A tax nexus sounds like something out of science fiction. However, if you are the administrator of the trust, you have to know what it is and whether the trust has one because it affects your responsibility to pay taxes on it. According to the New Jersey Department of...

Trusts & Trust Administration
What do you know about using trusts to protect your real estate?
As you assemble your estate plan, you know you want to leave your home to beneficiaries. How could a trust help you do so? SFGATE explains how you may ensure your heirs become legal owners of your main residence when you die. Learn how to use estate planning tools to...
Looking at grantor trusts
If you are in the process of setting up an estate plan, you have many different options to consider. You need to think about your individual circumstances as well as the unique needs your loved ones have. Some people create a will, while others come to the conclusion...
3 common questions about special needs trusts
People with disabilities qualify for Medicaid and other government benefits based on their finances. You may want to provide a gift or leave an inheritance to a disabled loved one, but doing so directly may affect his or her eligibility. A special needs trust is a...
Which type of trust is right for me?
Trusts are an integral part of a solid estate plan. While they are often thought of as a tool for the very rich, they can also be useful for average people, like yourself. The key is to choose the right type of trust for your estate planning needs. According to U.S....
What is a credit shelter trust?
New Jersey residents can potentially minimize future estate tax with a credit shelter trust. This trust allows your surviving spouse to inherit the trust and pass it along to your children when he or she dies without incurring tax. If you have estate planning on your...
What is a resident trust?
As you work on your estate plan, you will learn about a range of products you can use to leave your assets to heirs or organize the different aspects of your estate. One such term you may hear is a resident trust. According to the State of New Jersey website,...
Is there any good reason to have a revocable trust?
You have been working on estate planning over the last month or so, and you're getting ready to go to an attorney for the first time. You want to set up a trust, but you're not sure which one is right for you. Fortunately, there is a lot of information to be had on...
The benefits of a credit shelter trust
A credit shelter trust is a special type of living trust that may be established between two married people. It is set up during the partners' lifetimes and generally benefits their children when they are both gone. At its most basic level, a credit shelter trust...
Are irrevocable trusts permanently set in stone?
There are many types of trusts, but the main categories are testamentary trusts, which go into effect upon the grantor's death, and living trusts, which go into effect while the grantor is still alive. Among living trusts, there are another two main subcategories:...