Minimizing the New Jersey Estate Tax

In states that implement an estate tax, individuals often are concerned with how they can minimize their tax consequences in order to preserve their legacy. For instance, the current New Jersey Estate Tax Exclusion is $675,000.  If an individual owns a home and other assets including retirement assets, including an IRA or 401k, valued above $675,000, then he or she is subject to this tax.  In order to minimize this tax, it is important to plan in advance in your estate planning documents.
​