IRS Requires Estates of Small Business Owners to Post Bond(s) for Payment of Estate Tax Under Sec. 6166

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Estates holding a closely held business interest valued at greater than 35 percent of the adjusted gross estate can elect to pay estate taxes in installments. The rules also permit the IRS to require the estate to post a surety bond to secure the government’s interest in the deferred tax. The IRS has imposed a policy to make the bond mandatory and the issue was litigated in Tax Court. The Tax Court held that the IRS should apply the bond requirement on a discretionary case-by-case basis. In response, the IRS announced a revision of its policy (IRS Notice 2007-90, 2007-46 IRS 1003) and will apply various factors to determine the need to require a bond. Among the factors to be …

CMA Offers Guidance on Obtaining Medicare Coverage for Non-Routine Dental Services

HNW Additional Practice Areas

The Center for Medicare Advocacy has just issued a report discussing the circumstances in which Medicare may be liable for dental services. The report concludes: “The likelihood of obtaining Medicare coverage for non-routine dental care can be increased by taking certain steps. First, a treatment plan established at the outset by the primary physician providing covered medical services should include provision for ancillary dental care. As dental services are needed, the physician should record the fact that they are incident to and necessary for the patient’s primary treatment, and prescribe the specific dental services. This will take such dental services out of the exclusion for routine care, and show that they are “incident to and an integral part of” a …

Major Monmouth County Newspaper Features Elder Law Attorney, Fredrick P. Niemann of Hanlon Niemann, Freehold, NJ in a Recent Article on Wills

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Monmouth County’s largest newspaper, the Asbury Park Press, recently wrote a featured article entitled “How To Prepare Your Will” with New Jersey based Fredrick P. Niemann of Hanlon Niemann, a commentator on the importance of a properly written Will, Health Care Directive and Power of Attorney. Mr. Niemann was extensively quoted, along with a client of the firm, on the reasons that cause people to prepare wills, trusts and estate planning documents. Mr. Niemann, a 30 year practicing attorney with extensive experience in elder law, asset protection, estate tax reduction and counseling of individuals and family businesses, was recommended to the Asbury Park Press as an attorney with significant experience in preparing estate plans, trusts and life care planning documents, …

New Jersey Court Decides Important Case Involving Second Marriages, Premarital Agreements and Estate Death Issues

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APPELLATE DIVISION RULES ON SPOUSAL ELECTIVE SHARE RIGHTS UNDER A PREMARITAL CONTRACT The New Jersey Appellate Division on June 20, 2007, decided that a widow’s premarital waiver of an elective share to the Estate of her late husband was void when the underlying premarital contract was found unenforceable. In a case between a step-parent and the children of the decedent, the issued involved the enforceability of the steps-parents’ rights to inherit a portion of her late husband’s estate, even though she had waived her rights to the estate before her marriage. The Court found that because of the requirements of N.J.S.A. 3B:8-10 and N.J.S.A. 37:2-30, the premarital agreement could not be enforced and, therefore, plaintiff’s waiver was unenforceable. Fredrick P. …