Wednesday, January 9, 2019

Wills and Estate Planning Seminar Edison


Wednesday, January 9 at 12:15-1:00 PM and again 5:00pm-5:45pm
Law Office of Kenneth Vercammen,
2053 Woodbridge Ave, Edison, NJ 08817
 program is limited to 15 people. Please bring a canned food donation   
      COST: Free if you pre-register by email. Complimentary materials provided at 12:00 sharp. Please bring a canned food donation, which will be given to the St. Matthews’s St. Vincent DePaul Food Bank. Free sandwich for past and current clients from Craig’s Deli.

                                    Main Topics:
                                     1. Elimination of NJ Estate Tax
2. The New Probate Law and preparation of Wills     
3. 2019 changes in Federal Estate and Gift Tax exemption
4. The need for current Power of Attorney              
5.  Living Will  & Advance Directive       
6.  Administering the Estate & Probate

   We previously held this seminar for the Edison, Metuchen and Piscataway Libraries.
Please email us if you plan on attending or if you would like us to email the materials.
   SPEAKER: Kenneth Vercammen, Esq.                 
(Author- ABA Wills and Estate Administration)
      COMPLIMENTARY MATERIAL: Brochures on Wills, Probate and Administration of an Estate, Power of Attorney, Living Wills, Real Estate Sales for Seniors, and Trusts.   

Co-Sponsor: Middlesex County Estate Planning Council
To attend email VercammenLaw@Njlaws.com
other Information call 732-572-0500
Can’t attend?  We can email you materials
Send email to VercammenLaw@Njlaws.com

Tuesday, January 8, 2019

The NJ Estate Tax was eliminated in 2018

The NJ Estate Tax was eliminated in 2018 although there is still an Inheritance Tax for money that is not going to spouse, children, grandchildren, etc
Federal Estate Tax for rich people
Generally, a decedent dying between Jan. 1 and Dec. 31, 2019, may be subject to an estate tax, with an applicable exclusion amount of $11,400,000 (increased from $11,180,000 in 2018)

 In 2019, the annual Federal gift tax exclusion is $15,000. 
As of January 1, 2019, the federal estate tax exemption amount will increased to $11.4 million, up from $11.18 million in 2018, and up from $5.49 million in 2017.

Monday, December 3, 2018

What are Release and Refunding Bonds



What are Release and Refunding Bonds 
        Under New Jersey law it is the duty of the fiduciary [Executor or Administrator] to make arrangements to pay bills and other estate expenses and carry out instructions under the Will. NJSA 3B: 23-24 provides the fiduciary shall take a Release and Refunding Bond from each beneficiary.

 Please read the enclosed draft Release and Refunding Bonds. When the estate is finished and ready to disburse money, you will fill the amount each will receive. You should type up an informal accounting to show assets of the estate, the expenses and amounts each beneficiary will receive. To make things easy, you can attach a copy of your checkbook register. 

     Every beneficiary will need to sign his or her Release and Refunding Bond in front of an attorney or notary. If any beneficiary does not sign their release and refunding bond, then the estate funds cannot be distributed to anyone until approved by the Superior Court. An Accounting and Court approval under Rule 4:87-1 would take many months. We are requesting all beneficiaries to immediately make arrangements to sign the Release and Refunding Bond and return it to my office. Please also note under New Jersey law each beneficiary must certify they do not owe child support. Each beneficiary must fill out the child support section by hand.   

 The signed Release & Refunding Bonds must be filed with the County Surrogate and small fee paid. If the Surrogate required a bond, a copy of each filed Release & Refunding Bond must be provided to the bonding company.
     In the State of New Jersey, it is essential that Executors and Administrators obtain and file with the Surrogate’s Court, either an executed Release or combined Release & Refunding Bond from each beneficiary of the testator’s estate. Once debts and taxes of the state are paid, AND the Executor or Administrator is ready to make final distribution, the Executor or Administrator must have each beneficiary sign a “Release & Refunding Bond.” 
By executing a Refunding Bond, the beneficiary is agreeing that, in the event the assets distributed to him or her are needed at a later time to pay any debt of the estate, the beneficiary will then return part or all of the assets needed to pay estate debts. This provides the Executor or Administrator with security in the unlikely event claims are subsequently made against the estate. The release is proof that the Executor or Administrator has made distribution and that the beneficiary has received his or her bequest or distributive share. 
Source
http://www.bergencountysurrogate.com/refundingbond&releaseforms.pdf
REFUNDING BOND AND RELEASE 
     By statute (N.J.S.A. 3B: 23-24) an Executor or Administrator is required on paying a beneficiary his/her share of the estate, to take a Refunding Bond and Release from the beneficiary and to file the bond in the Surrogate’s Court. The statute requires that the Refunding Bond and Release be in the amount or value of the beneficiary’s share of the estate. The Refunding Bond and Release must be signed by the beneficiary before a Notary Public or attorney. If the beneficiary is a minor or incapacitated person, the Refunding Bond and Release must be signed by the guardian of the property.  
The Refunding Bond and Release has a dual purpose: 
Refunding – To refund to the Executor or Administrator out of his/her share of the estate his ratable part of any unpaid debts, owed by the testator or intestate, if there are no other assets to pay them. Source http://www.mercercounty.org/government/county-surrogate/refunding-bond-and-release
Release - To discharge the Executor or Administrator of an estate of his/her duties upon distribution to the beneficiary of his/her share of the estate. 
In an Administration that required a Surety Bond, the Administrator must request a Certificate of Release from the Surrogate at the time he/she files the Refunding Bond and Release. A Surety Bond will not be cancelled by the insurance agent unless the Certificate of Release is presented to the agent. 
It is necessary to file the completed Refunding Bond and Release from each beneficiary of the estate with the Surrogate’s Court. The statutory fee for filing is $ 10.00 per bond and $ 5.00 for the Certificate of Release. 

Source http://www.mercercounty.org/government/county-surrogate/refunding-bond-and-release

Kenneth Vercammen Esq. 732-572-0500 
2053 Woodbridge Ave. Edison, NJ 08817https://www.njlaws.com/probate_release_refund_bond.html?id=744&a=

Sunday, October 28, 2018

Ethics in Your Practice- NJ Bar Assoc Rome Italy

Ethics in Your Practice- NJ Bar Assoc Rome Italy [ &  Learn how to make more money by ethically marketing your practice... and staying ethically compliant!]

Tuesday, November 6th- -The Westin Excelsior Rome

8:30-9:45
MY18_0009
Boncompagni room

Moderator/Speaker:
Kenneth A. Vercammen, Esq., Past Municipal Court Attorney of the Year
Kenneth Vercammen & Associates, PC, Edison

Speakers:
Steven L. Menaker, Esq.
Chasan Lamparello Mallon & Cappuzzo, PC, Secaucus
Thomas H. Prol, Esq, Past NJSBA President
Laddey Clark & Ryan, LLP, Sparta
Daniel Rosner, Esq. Past NIAJ President
Rosner Law Offices, PC, Vineland

    This is an Ethics program for Ethics credit.
The Westin Excelsior Rome
Like a great opera, avoiding ethics and malpractice issues your practice requires talent and finesse. This program will help you stay in tune so that you don’t become la Traviata – the fallen one.  

Ethics in Your Practice: How to Avoid Being La Traviata

  Proven techniques for promoting your practice while staying within the ethics rules, even if you handle cases other than Municipal Court.

       Learn everything you need to know to ethically promote your practice, including: 

• An overview of the ethics of marketing - a discussion of information that is and is not permitted to be communicated to potential clients. An overview of relevant RPC’s , ethics opinions and cases that refer to ethical communication with potential clients, including Opinion 39, 42 and 43 and RPC 7.1.

• Ethical websites - do’s and dont’s as to how your website can attract the most clients while staying within the ethics rules. Topics will include imagery, testimonials and design.

• The Ethical Considerations of Social Networking- a focus on how to ethically grow your practice through on-line networking.


https://www.facebook.com/pg/Kenneth-Vercammen-Associates-PC-Law-Office-Edison-NJ-08817-149816077985/events/?ref=page_internal

Thursday, October 25, 2018

Sayreville Wills & Power of Attorney Seminar

Press release
Wills & Power of Attorney Seminar 
Sayreville Public Library
November 13, 2018 at 6:30pm

Open to the public. You do not need to be a resident.

SPEAKER: Kenneth Vercammen, Esq. Edison, (Author- ABA’s “Wills and Estate Administration book”)

Main Topics:
 1. NJ Estate Tax eliminated on Estates under $5,400,000 as of January 1, 2018 & Veterans Tax credit
2. 2018 changes in Federal Estate and Gift Tax  
   3. The new Digital Fiduciary Act & New law permits Executor to resign if all parties consent
4. Power of Attorneys       
5.  Living Will           
6.  Administering the Estate/ Probate/Surrogate
      
        COMPLIMENTARY MATERIAL: Brochures on Wills, "Answers to Questions about Probate" and Administration of an Estate, Power of Attorney, Living Wills, Real Estate Sales for Seniors, and Trusts.
        Sayreville Public Library 732-727-0212 ex. 25
Open to the public. You don’t have to be a Sayreville resident to attend.
Sayreville Public Library 1050 Washington Road Parlin NJ 08859
732.727.0212 ext.25

Can’t attend? We can email you materials Send email to VercammenLaw@Njlaws.com

Free Will Seminars and Speakers Bureau for Groups 
        To schedule a free Legal Seminars, contact our Coordinator, Kenneth Vercammen's law office at (732) 572-0500, email VercammenLaw@njlaws.com  


Monday, August 20, 2018

Spotswood, NJ 08884 Wills, Estate Planning & Probate Seminar


Spotswood Library
548 Main Street
Spotswood, NJ 08884
Wills, Estate Planning & Probate Seminar
October 18, 2018 at 2pm 
       WILLS & ESTATE ADMINISTRATION-PROTECT YOUR FAMILY AND MAKE PLANNING EASY Free program open to the public, you do not need to be a Township resident to attend
     SPEAKER: Kenneth Vercammen, Esq. Edison, NJ (Author- Wills and Estate Administration by the ABA)
          Main Topics:
 1. NJ Estate Tax eliminated for 2018 & NJ Veterans Tax exemption of up to $3,000
2. The 2018 changes in Federal Estate and Gift Tax 
3. The new Digital Fiduciary Act & New law permits Executor to resign if all parties consent
4. Power of Attorneys    
5.  Living Will         
6.  Administering the Estate/ Probate/Surrogate
7. Avoiding unnecessary expenses
COMPLIMENTARY MATERIAL: Brochures on Wills, "Answers to Questions about Probate" and Administration of an Estate, Power of Attorney, Living Wills, Real Estate Sales for Seniors, and Trusts.
Spotswood Library
548 Main Street
Spotswood, NJ 08884
 (732) 251-1515
 clquillen@spotslibrary.org