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Law firm opens Sparta office

Law firm opens Sparta office
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Einhorn Barbarito elevates one to counsel

Adam Sandler was elevated to counsel at Einhorn Barbarito, Frost & Botwinick PC in the wills, trusts and estates and taxation groups. ....

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What tax is owed on the sale proceeds of an inherited home?

What tax is owed on the sale proceeds of an inherited home?
Updated Mar 10, 2021;
Q. My father’s home in Florida was sold under an irrevocable trust, of which I am one of four beneficiaries. What federal and New Jersey taxes will apply? I have received a federal 1099 for the amount of $38,700.
Beneficiary
A. This is a tough question to answer because we haven’t seen the terms of the trust.
But here are some general thoughts to take into consideration.
Typically, an irrevocable trust is established as part of a sophisticated estate plan, said Gary Botwinick, an estate planning attorney and chair of the wills, trusts and estates group at Einhorn, Barbarito, Frost & Botwinick in Denville. ....

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