Single Dad's Estate Tax Liability reduced

Steven M Zelinger

Case Conclusion Date:October 4, 2012

Practice Area:Estate Planning

Outcome:NJ Estate tax exposure reduced by 10s of thousands of dollars

Description:A single father who's wife died in childbirth approached me for estate planning needs. He and his daughter received substantial awards for wrongful death and he also had purchased significant amounts of life insurance. The client therefore has a large potential NJ estate tax due to his assets and as he is not married has limited options to reduce estate tax. We created a revocable living trust and irrevocable life insurance trust for him to significantly reduce his estate tax exposure.

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