Legal Insights for Individuals & Families
The Internal Revenue Service recently published Rev. Proc. 2023-24, setting forth inflation adjusted items for 2024. For decedents dying in 2024, the basic exclusion amount for federal estate tax purposes has been increased to $13,610,000. While many individuals may feel comfortable that their estate will not be affected by a federal estate tax, the false sense of security could be short lived.
The 2017 Tax Cuts and Jobs Act (TCJA) authorized the current exclusion amounts, but they are subject to automatic termination at the end of 2025. Thus, the end of higher exemptions amounts draws ever closer. Absent further legislation, these exemptions will sunset as of December 31, 2025 and are scheduled to be reduced by one-half, adjusted for inflation.
Obviously, we all hope to live into 2026 and beyond, and it is important that your estate plan be able to adapt to these changes. Failure to do so could be costly for your estate and your heirs. If you would like a consultation concerning this, and other issues affecting your estate plan, please contact our estates department at (609)896-9060.
Stark & Stark Attorneys Recognized as New Jersey “Super Lawyers” and “Rising Stars” in 2026
Stark & Stark is pleased to announce that 15 of its attorneys have been selected for inclusion in the list of 2026 New Jersey Super Lawyers,...Bruce Stern, Esq. Secures $1,000,000 Settlement in Motor Vehicle Collision Case
Bruce Stern, Esq. recently secured a $1,000,000 settlement in a motor vehicle collision case.* “This case highlights how quickly things can go...Deborah Dunn, Esq. Elected to Board of Directors for Angel Flight East
Stark & Stark is pleased to announce that Deborah Dunn, Esq., Shareholder and Civil Trial Attorney, has been elected to the Board of Directors...Michael Jordan, Esq. Joins the Board of the Lawrence Township Community Foundation
It is our pleasure to announce that Michael Jordan, Esq. has joined the board of the Lawrence Township Community Foundation, an organization...Joseph Lemkin, Esq. Named to ROI-NJ Influencers: Power List 2026 – Law
Stark & Stark is proud to share that Joseph Lemkin, Esq., Shareholder, has been named to the 2026 Influencers: Power List in the Law category...Joseph Cullen, Esq. and Nicole Durso, Esq. Secure $2,000,000 Settlement in Personal Injury Matter
Joseph Cullen, Esq. and Nicole Durso, Esq. recently secured a $2,000,000 settlement in a personal injury matter involving a pedestrian who was struck...James Creegan, Esq. Appointed to Board of The 200 Club of Mercer County
It is our pleasure to announce that James Creegan, Esq. has been appointed to the Board of Directors of The 200 Club of Mercer County, an...