Skip Navigation
Menu
Home Preparing for Later Life Farming Workshop

New Jersey Addendum to Planning the Future of Your Farm

Please note that there are numerous references to Pennsylvania laws in the Planning the Future of Your Farm workbook. Please consult an attorney who is knowledgeable on New Jersey laws for your estate and transfer plans.

  1. Page 51- Column 1- Paragraph 3 - link for more New Jersey-specific information
  2. Page 51- Column 2- Paragraph 1- The New Jersey law that governs intestacy distributions and add link for more New Jersey-specific information
  3. Page 52- Column 1- Paragraph 3 - The probate process is administered in the state of New Jersey by county-based court officers called Surrogates. For contact information for Surrogates, google "surrogate" and your county name.
  4. Page 53- Column 1- Paragraph 1 - Like Pennsylvania, New Jersey has an inheritance tax. Visit this site for more information.
  5. Page 53- Column 1- Paragraph 1 - The estate tax exemption for 2015 is $5,430,000. See the IRS website (PDF)for additional information about this and other 2015 tax law inflation adjustments.
  6. Page 54- Column 1- Paragraph 3 - In 2015, the annual gift tax exclusion remains at $14,000 ($28,000 for gifts coming from a couple); the estate tax exemption for 2015 is $5,430,000.
  7. Page 55- Numerous places - The estate tax exemption for 2015 is $5,430,000 versus $5,340,000 in 2014 and $5,250,000 in 2013; the generation-skipping tax (GST) exemption is also $5,430,000 in 2015.
  8. Pages 74-79 (About Conservation Easements) - for Qualified Conservation Contributions, which appears to be correct as per IRS publication 526.
  9. Pages 74-79 - Below are two helpful New Jersey specific references about farmland preservation:
    1. SADC, 2011. Farmland preservation: Frequently asked questions. State Agricultural Development Committee, New Jersey Department of Agriculture
    2. SADC. 2011. N.J. farmland preservation program overview. State Agricultural Development Committee, New Jersey Department of Agriculture
  10. Page 96 - In 2015, the annual gift tax exclusion is $14,000 ($28,000 for gifts coming from a couple)
  11. Appendix (Pages 105-109) - A list of contact information for New Jersey County Agriculture Development Boards (CADBs)