In a recent unpublished opinion, the New Jersey Appellate Division summarized the factors a trial court must consider when awarding attorneys’ fees in Will contests. In Matter of the Estate of Fornaro, 2019 WL 2172791, the decedent executed a Will in 2011 leaving the bulk of his estate to his son. In an earlier
Christopher P. Massaro
Home Transferred to Trust with Retained Interest Subject to NJ Inheritance Tax
By Christopher P. Massaro, Steven M. Saraisky & Sarah G. Townsend on
The New Jersey Appellate Division recently issued its opinion in Estate of Van Riper v. Dir., Div. of Taxation, No. A-3024-16T4 (N.J. Super. Ct. App. Div. Oct. 3, 2018), upholding the Tax Court’s finding that the full fair market value of a marital home transferred to a trust was subject to New Jersey Inheritance…
New Jersey Enacts Uniform Fiduciary Access to Digital Assets Act
Posted in Estate Administration, Estate Planning
New Jersey recently enacted the Uniform Fiduciary Access to Digital Assets Act (the “Act”). See the Act here. In general, the Act provides executors, trustees, guardians, and power of attorney holders (“fiduciaries”) with the ability to access and control “digital assets” belonging to decedents, beneficiaries and wards. The term “Digital Asset” is broadly defined…
New Jersey Court Holds Financial Institutions are Not Required to Report Suspected Elder Fraud
By Christopher P. Massaro & Jenny Flom on
Posted in Estate Planning
In a case of first impression, the Superior Court of New Jersey held that financial institutions do not have an affirmative duty to report suspected fraud upon senior citizens or vulnerable individuals. See Lucca v. Wells Fargo Bank, N.A., 441 N.J. Super. 301, 315 (Law Div. 2015). In Lucca, an 82-year old woman…
Court Warns That Marriage Does Not Render A Spouse Automatically Entitled To Preexisting Life Insurance Policies
Posted in Estate Planning
In a recent unpublished decision, the New Jersey Appellate Division has again stressed the importance of complying with the beneficiary designation requirements contained in life insurance policies. See Fox v. Lincoln Financial Group, et al., A-3189-13T4 (2015).
In Fox, the decedent purchased a life insurance policy in 1992, at which time he designated his first…