Campanile Law, LLC.

06/04/2025

As we approach summer 2025, it's a great time to review your estate plans. Here are some helpful tips to keep in mind:

Dos:
- Review Your Will: Ensure it reflects your current wishes.
- Update Beneficiaries: Check retirement accounts and insurance policies.
- Consider Tax Implications: Plan for any tax changes.

Don'ts:
- Delay Updates: Life changes should prompt quick revisions.
- Overlook Health Directives: Ensure medical preferences are documented.
- Ignore Digital Assets: Make provisions for online accounts.

Feel free to reach out if you have any questions or need assistance with your estate planning needs. You can schedule your free consultation at www.campanilelaw.com.

02/18/2025

What is a Life Estate and its Purpose?

12/23/2024

The Office will be closed from December 23, 2024 through January 3, 2025. We will reopen on Monday, January 6, 2025.

If you would like to schedule a consult, please go to www.campanilelaw.com to schedule a day and time that works best you.

Happy Holidays!

NJ Estate Planning & Probate Serving all of New Jersey How May We Help You? I Need Probate Help I Need Estate Planning Help Estate Planning Probate Estate planning isn’t just about protecting your assets. It’s about protecting you while you’re alive and need help, it’s about protecting your ...

12/05/2024

We want to give everyone as much advanced notice as possible, the Office will be closed from December 23, 2024 through January 3, 2025. We will reopen to Monday, January 6, 2025.

09/04/2024

Estate Planning Wednesday’s Word of the Day

Ascertainable standard – A standard, usually relating to an individual’s health, education, support, or maintenance, that defines the permissible reasons for making a distribution from a trust. Use of an ascertainable standard prevents distributions from being included in a trustee/beneficiary’s gross estate for federal estate tax purposes. Depending on state law, the use of an ascertainable standard may provide less protection for a beneficiary from creditors. If the risk of a lawsuit or divorce concerns you, you should discuss distribution standards with your attorney.

09/03/2024

Estate Planning Tip of the Day:

If you have named direct beneficiaries on any life insurance policies, IRAs, 401Ks, mutual funds, investment accounts, bank accounts, or any other accounts, you should review the beneficiaries to ensure the following:

1) you still want that individual to receive your money; and
2) ensure proper contact information so your financial advisor can easily contact the individual at your time of passing.

08/22/2024

Estate Planning Tip of the Day

New Jersey does NOT have an Estate Tax. In addition, New Jersey does not have an inheritance tax on the following individuals:

Parents, grandparents, spouse, child of decedent, grandchild, great-grandchild of decedent, stepchild of decedent, mutually acknowledged child, civil union partner, domestic partner.

For all other beneficiaries, the Estate of the decedent must pay an inheritance tax up to 16% on a sliding upward scale.

08/21/2024

Estate Planning Wednesday Word of the Day

Codicil

A codicil is simply an amendment, addition or change to part or all of a will. It will either explain, modify or revoke aspects of an established document.

Importance to estate planning: Codicils are necessary if you ever have major life events — like a birth, death, marriage, divorce or out-of-state move — or any other reason to change part or all of your will.

08/20/2024

Estate Planning Tip of the Day:

Prioritize assembling an experienced team to help you create your estate plan. Some of the professionals you may want to include on this team are a financial advisor, a tax professional, and an estate planning attorney to map out a complete, customized estate plan.

Each person on the team plays a critical role in the process and can provide invaluable legal and financial advice. Most importantly, you and your team will create a plan that helps ensure your assets are distributed to the people and organizations you choose with as little confusion as possible.

08/14/2024

Estate Planning Wednesday Word of the Day:

Probate: The legal process through which a deceased person’s will is validated, and their estate is administered. This process includes paying off debts and distributing the remaining assets to beneficiaries.

08/13/2024

Estate Planning Tip of the Day:

The federal estate tax, often referred to as the “death tax,” is a tax on the transfer of property upon someone’s death. For 2024, the estate tax applies to estates valued over $13.61 million for individuals and $27.22 million for married couples. The tax rates range from 18% to 40%, depending on the value of the estate above the exemption limit.

08/12/2024

Estate Planning Tip of the Day:

Estate planning also involves tax planning to minimize the impact of estate taxes, gift taxes, and other tax liabilities. This can include strategies like gifting assets during your lifetime, setting up trusts, and taking advantage of tax exemptions.