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I am 56 and my fiance is 42. We bought and paid for our ...
Sent to Tax Experts February 21 06:38 PM

I am 56 and my fiance is 42. We bought and paid for our townhouse worth $750,000. Our concern is that if one of us died the other would have to pay 16% New Jersey inheritance tax on the decedent's share ($375,000) before it could be transferred to the other.

If we were married there would NOT be any state inheritance tax. Can you confirm whether this is in fact true and whether there is anything we could do to circumvent the tax?

Anthony
973-202-2778

Customer (name blocked for privacy)
Status:  Closed   Value: $10
Answer
February 21 7:17 PM (39 minutes and 45 seconds later)
         
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Christopher Phelps -- Certified Public Accountant (CPA) -- 100% Positive Feedback on 2667 Tax Accepts
CPA, CFP, PFS, Tax Practitioner 21 Years, Member AICPA/CSCPA Tax/Financial Planning Committee Member
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February 22 12:11 AM (4 hours and 53 minutes and 12 seconds later)
         
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Christopher Phelps -- Certified Public Accountant (CPA) -- 100% Positive Feedback on 2667 Tax Accepts
CPA, CFP, PFS, Tax Practitioner 21 Years, Member AICPA/CSCPA Tax/Financial Planning Committee Member
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