Disclaimer

Do you still need a Trust in New Jersey?

In 2016, the Christie administration announced that there would be a tax trade-off: New Jersey would repeal the estate tax, increase the gross income tax exclusion on retirees, reduce the state sales tax from 7% to 6.875, and then to 6.625%, and oh yeah… Increase the gasoline tax by 23 cents per gallon. So, with the repeal of the New Jersey estate tax, do New Jerseyans need to continue using trusts to avoid paying an estate tax?