f i t

Monthly Tips

APRIL 2018


TIP 1  Tax Fraud Alert


With many last minute tax filings, the IRS is on the mind of many, including con artists. There is often a surge this time of year of calls and emails from scammers impersonating the IRS, and demanding immediate fictitious tax payments.


The IRS will not call and demand immediate payment, or request payment via a credit or debit card, or threaten to bring in police or other agencies to arrest you for not paying. If you don’t owe taxes, or have any reason to believe you do, do not give out any information when called and contact TIGTA to report the call. Use their “IRS Impersonation Scam Reporting” webpage. You can also call 800-366-4484 to report it.



TIP 2  Spring Cleaning


Spring has arrived, and with it for some an urge to clean and make their homes fresh and new. One spring-cleaning tradition even involves moving everything out of the house, doing a total clean, and moving everything back in!


In so doing, there is an assessment of what should be kept and still has value (sentimental, pragmatic, or otherwise). At Garden State Trust Company, part of what we do is to help people with inter-generational wealth transfer. This includes an assessment of a client’s tangible assets, which could include helping them designate the transfer of items with sentimental value to prevent arguments later on.



TIP 3  Being an Executor is Hard


There have been books written on being an executor of an estate. Long, tedious books, that most people don’t want to read. You need to know the answers to a great number of questions such as: When is the federal estate tax due? What if there’s a bequest of property listed in the will that is not present in the estate? Are there any restrictions to the marital deduction?


At Garden State Trust Company, we’re here to help. We can be the executor. Or, we’re happy to play a smaller role as the agent for the executor.  Put our expertise to work for you. Contact us for a consultation today.




1390 Route 22 West, Suite 101 • Lebanon, NJ 08833


1886 Hinds Road, Suite 2 • Toms River, NJ 08753


1236 Brace Road • Cherry Hill, NJ 08034


2021 New Road • Suite 9 • Linwood, NJ 08221