Joint ownership and Estate Taxes

[raylaw]

i am a new jersey resident and would like to know if there are any estate tax consequences to my spouse. if everythingI own or have is in joint ownership at my death?

 

[loku]

Joint property at death

One half of the value of all property you own in joint tenancy with your spouse would be included in your federal taxable estate at your death. If you own enough property to have to pay estate tax, you would do well to engage a lawyer to plan your estate. Doing it properly could save a lot of time and taxes.