The New Jersey Supreme Court affirmed the trial court and Appellate Division’s interpretation of New Jersey’s transfer inheritance tax statute that taxed the full value of a property transferred into an irrevocable trust upon the death of the second spouse. In Estate of Mary Van Riper v. NJ Division of Taxation, Docket A-51-18, Justice Lee A. Solomon, who wrote the unanimous decision, highlighted the advancement of “the vital policy goals of clarity, simplicity, and ease of implementation” of the transfer inheritance tax law.
The New Jersey State Bar Association (NJSBA), in its amicus curiae brief, argued that only half of the estate should have been taxed at the time of the second spouse’s death. The brief was written by Andrew J. DeMaio, Glenn A. Henkel, Jill Liebowitz and Heather G. Suarez, members of the NJSBA’s Real Property, Trust and Estate Law Section. DeMaio argued the matter on behalf of the NJSBA.
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