Peter E. Iorio

Peter E. Iorio


Estate Planning & Administration of Estates & Trusts • Taxation • Estate and Trust Litigation

Peter E. Iorio
Jul. 7, 2023

Do I Need a Trust?

If an Attorney, Financial Planner or other advisor confidently says you need a Trust before understanding your personal, family, and financial circumstances, ask the important question of “Why?” If they cannot provide an answer with credibility, consider finding different individuals to advise you. Establishing a Trust can be an important part of one’s estate plan, […]

Peter E. Iorio
Apr. 25, 2023

How to Ensure Your Power of Attorney Isn’t Powerless

A traditional estate plan typically includes a Durable Power of Attorney, often called a POA. Based on one’s unique needs, a POA can come in several forms and give an assigned person (the Agent) the ability to make financial or property decisions for you (the Principal) if necessary. Until the time, if ever, comes for […]

Peter E. Iorio
Jan. 18, 2023

Breaking Down Estate Planning Misconceptions

While most people hope never to need an attorney in their lifetime, one area of law all adults should take interest in is estate planning. As death and taxes are inevitable, it’s important to plan for and protect who and what matters in your life for when you’re no longer walking this earth. So, why […]

Peter E. Iorio
Apr. 26, 2022

Why Do-It-Yourself Estate Planning Tools Should Be Used At Your Own Risk

If you’re looking to create an estate plan, you may have considered going to an online service and doing it yourself. Speaking with an attorney may seem like overkill, especially if you feel your situation is simple. In many cases, an individual’s first encounter with an attorney is to discuss their estate plan, which can […]

Peter E. Iorio
Mar. 18, 2021

Limitations on Enforcing Due on Sale Clauses

“Due on Sale” clauses found in many mortgages generally allow a lender to demand payment in full of a loan, upon the transfer of an interest in the mortgaged property. The Garn St. Germain Act (12 U.S.C. Section 1701j-3) provides that regardless of the agreement between a borrower and lender, a lender may not enforce […]

Peter E. Iorio
Mar. 6, 2019

Has Your Estate Gone to The Dogs? The Pros and Cons of Pet Trusts

Should Fido be left an inheritance after you pass away? Creative designer Karl Lagerfeld died this year after amassing a fortune of approximately $300 million. Prior to his death, Lagerfeld quipped that one of his heirs, his cat Choupette, would have “her own little fortune.” Reportedly, $200 million of assets was earmarked for Choupette’s care. […]

Peter E. Iorio
Aug. 22, 2018

Aretha Franklin’s Death Highlights Importance of Having a Will

Aretha Franklin, the “Queen of Soul,” died this month, at the age of 76.  According to news reports, she was worth $80 million and died without establishing a Will or trusts for the beneficiaries of her estate.  Her death highlights the importance of establishing an estate plan–even a simple one–to avoid unintended consequences. At the […]

Peter E. Iorio
Jun. 7, 2018

Got Bitcoin? Make Sure You Understand Its Tax Implications

If you are a trader of Bitcoin or use “virtual currencies” as payment, the Internal Revenue Service wants you to know that you are not immune to the bite of the income tax.  The IRS has published a Notice providing guidance to owners of virtual currencies about their potential tax liabilities. For federal tax purposes, […]

Peter E. Iorio
Aug. 14, 2017

Being Skeptical of Online Will Websites

As you begin preparation for your estate or will, you may ask yourself why you need a lawyer, when there are so many “self-help” legal websites offering cheap rates. The axiom, “you get what you pay for,” is the answer. While using a website to generate a templated estate plan may be less expensive than […]

Peter E. Iorio
Oct. 18, 2016

The New Jersey Estate Tax is Going Away – Is Your Estate Plan Up to Date?

Given the recent amendments to the New Jersey Estate Tax, now is a good time to determine if your estate plan is up to date.