2014 update Wills and Estate Planning Seminar

see http://www.njlaws.com/probateupdate.htm
.  Federal Estate Tax exemption is now permanently increased so no tax for Estates under $5,340,000, and will be adjusted annually for inflation. However, New Jersey taxes estates over $675,000.
Federal Exemption Amount for Non-Citizen Spouses is $145K up from $143K.
  New Jersey has an Estate Tax on amounts over $675,000.  So, even if no Federal Estate Tax due, the estate must still file a Federal Estate Tax Return, plus NJ Estate Tax Return.
So, for an unmarried or widowed person with assets of $1,000,000, there is No Federal Estate Taxes, but
the Estimated State Estate Tax:  $33,200.00