Steven Holt, partner and chair of the Tax Law, Trusts, and Estates Practices at Mandelbaum Barrett PC, recently answered a question for NJ Money Help regarding whether a trust is necessary for estate planning in New Jersey.
Holt explained that since New Jersey has no estate tax and the federal exemption is $13.99 million for individuals in 2025, a trust is often unnecessary for tax-saving purposes. He also noted that probate in New Jersey is relatively simple, making trusts less critical for probate avoidance. However, trusts may still be useful in specific situations, such as providing financial management for a disabled beneficiary.
Read the full article here.