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Elga Amalia Goodman

Elga Goodman’s Legal Guides

22 total

  • Three Cornerstone Concepts of Estate Planning

    When preparing your estate plan it is important to understand the distinction between probate assets, non-probate assets, and gross estate. Whether assets are probate or non-probate depends on how th

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  • What’s The Difference Between the “New Jersey Estate Tax” and the “New Jersey Inheritance Tax”?

    New Jersey has both an estate tax and an inheritance tax. While many assume these terms are interchangeable, they are not. The NJ estate tax and the NJ inheritance tax are distinctly different. 1.

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  • Inheriting an IRA – Rules for Averting Huge Taxes!

    When his 75-year-old father died, forty-year-old John inherited his father’s $1 million traditional Individual Retirement Account (IRA). John wasn’t sure what to do with all that money. Requesting a

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  • A Team Approach to Financial Security

    A successful estate plan is built on the collaboration of several professions working together to ensure that your goals and wishes are properly implemented. Your team should include a CPA, a financial advisor, an insurance professional and an attorney specializing in estate plan...

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  • A Team Approach to Financial Security

    A successful estate plan is built on the collaboration of several professions working together to ensure that your goals and wishes are properly implemented. Your team should include a CPA, a financial advisor, an insurance professional and an attorney specializing in estate plan...

    Read more 

  • Organize Your Paperwork in January

    In order to create an accurate estate plan, people need to organize their documents and take a complete inventory of all their assets and liabilities. Creating an inventory not only helps in creating an estate plan, but it helps in getting a handle on eliminating debt and may hel...

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  • Do Good in 2012!

    Many of us make New Years resolutions to do something better this year that we havent done in the past. A great easy New Years resolution is to give more in 2012. You can give more of your time and volunteer for a worthy charity. Save Taxes and Help Those in Need You can also be ...

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  • The Hidden Danger in Joint Bank Accounts

    A woman in New Jersey had her bank account frozen because her daughter filed for bankruptcy. How can this happen? The woman had a joint account with her husband and when he died, she put her daughters name on the account to take over management of the account in case she became i...

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  • Is a New York Health Care Proxy the same as a Living Will?

    Health Care Proxy A health care proxy assigns the power of making health care decisions to someone else. A person must be careful to choose someone he trusts completely for his health care proxy because the person will be entrusted to make potentially life-saving decisions. The ...

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  • Children of Civil Union Couples in New Jersey

    Inheritance Tax in New Jersey Following the death of a New Jersey resident, an inheritance tax return must be filed. Taxes are established at graduated rates on property with a total value of $500 or more which passes from a decedent to a beneficiary. The exception to this tax i...

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