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James J. Costello Jr.

Bridgewater, New Jersey
Founding Member

Phone: (908) 304-0499
Fax: (908) 304-0477
Email: Contact Me

Mr. Costello is admitted to the Connecticut, District of Columbia and New Jersey Bars. He is admitted to practice before the United States Tax Court, the United States District Court, District of Connecticut, and the United States District Court, District of New Jersey. He received his Master of Laws in Taxation from Georgetown University Law Center, his Juris Doctor from Western New England College School of Law, cum laude, where he was the recipient of American Jurisprudence Awards in Estate Planning and Business Organizations; and his undergraduate degree in Accounting, cum laude, from the University of Bridgeport.

He is the author of the following articles:

"Dealing with the Marital Residence in Divorce: Tax Issues,"
Connecticut Lawyer, October 1993

"IRS Concession on Minority Interest Discounts Offers Planning Opportunities,"
Connecticut Bar Association Estates & Probate Newsletter, June 1994

"Dealing With Ethical Concerns in Estate Planning Matters,"
New Jersey Bar Association Real Property, Probate, and Trust Law Section Newsletter, June 1997

"Disclaimer Trusts - the Next Best Thing to a Simple Will,"
New Jersey Law Journal, December 1998

"A Guide to Disclaimers,"
New Jersey Law Journal Estate Planning Supplement, May 1999
 
He is Co-Author of the following article:

"Creating Dynasty Trusts in New Jersey,"
New Jersey Law Journal Estate Planning Supplement, May 2000

Mr. Costello was also a contributing author to New Jersey Practice Series, Volume 16B, Legal Forms, Third Edition, Chapter 58, "Will Forms" and Chapter 59, "Wills & Trusts - Tax Considerations".

"Family Limited Partnerships,"
Estate Planning Strategist, New Jersey Institute for Continuing Legal Education, September 1995

"Charitable Remainder Trusts," 
Estate Planning Strategist, New Jersey Institute for Continuing Legal Education, April 1996

He is a member of the District of Columbia Bar Association; the Connecticut Bar Association (Sections on Taxation and Estates and Probate; former member of the Executive Committee of the Estates and probate Section); New Jersey Bar Association (Sections on Real Property, probate and Trust; Taxation); and American Bar Association (Sections on Taxation, Committee on Small Firm Tax Lawyers; Real Property, Probate and Trust Law).

Mr. Costello began his career as a Senior Tax Consultant in the Personal Financial Planning Group of Ernst & Young's Washington, D.C. office where he was a contributing author to the "Ernst & Young Personal Financial Planning Reporter". Most recently, he was the Partner in charge of Tax and Trust & Estate Law at the law firm of Peterpaul, Clark, Corcoran & Costello, P.C. in Springfield, New Jersey, a firm which he continues to serve as "of Counsel" to, prior to which he was an associate at the law firm of Deener, Feingold & Stern, P.C. in Hackensack, New Jersey.

Mr. Costello lectures extensively to civic and professional groups about a variety of estate planning and tax law topics.  He is a member of the National Academy of Elder Law Attorneys and is also an advisory member of the Board of Directors of the Greater New JerseyChapter of the Alzheimer's Association.

Areas of Practice

  • Estate Planning - Wills, Trusts & Family Partnerships
  • Probate & Estate Administration
  • Taxation Law
  • Federal & State Tax Audits
  • Elder Law
  • Business Formation, Dissolution & Purchase and Sale Transactions
  • Commercial & Residential Real Estate Transactions
  • Will Contests
  • Powers of Attorney & Living Wills
  • Probate Mediation

Bar Admissions

  • Connecticut, 1988
  • New Jersey, 1995
  • U.S. District Court District of Connecticut, 1989
  • U.S. District Court District of New Jersey, 1995
  • U.S. Tax Court, 1991
  • District of Columbia, 1989

Education

  • Georgetown University Law Center, Washington, District of Columbia, 1991
    M.L.T., Master of Laws in Taxation

  • Western New England College School of Law, Springfield, Massachusetts, 1988
    Juris Doctor
    Honors: Cum Laude
    Honors: American Jurisprudence Awards in Estate Planning & Business Organizations

  • University of Bridgeport, CT, 1985
    B.S.
    Honors: Cum Laude
    Major: Accounting

Published Works

  • "Dealing with the Marital Residence in Divorce: Tax Issues", Connecticut Lawyer, October, 1993
  • "IRS Concession on Minority Interest Discounts Offers Planning Opportunities", Connecticut Bar Association Estates & Probate Newsletter, June, 1994
  • "Dealing With Ethical Concerns in Estate Planning Matters", New Jersey Bar Association Real Property, Probate, and Trust Law Section Newsletter, June, 1997
  • "Disclaimer Trusts - the Next Best Thing to a Simple Will", New Jersey Law Journal, December, 1998
  • "A Guide to Disclaimers", New Jersey Law Journal Estate Planning Supplement, May 1999
  • "Creating Dynasty Trusts in New Jersey" (Co-Author), New Jersey Law Journal Estate Planning Supplement, May, 2000
  • "Family Limited Partnerships" (Contributing Author), Estate Planning Strategist, New Jersey Institute for Continuing Legal Education, September, 1995
  • "Charitable Remainder Trusts" (Contributing Author), Estate Planning Strategist, New Jersey Institute for Continuing Legal Education, April, 1996
  • New Jersey Practice Series (Contributing Author), Legal Forms,Third Edition, Chapter 58, "Wills Forms" and Chapter 59, Volume 16B

Professional Associations and Memberships

  • District of Columbia Bar Association
    Member

  • Connecticut Bar Association (Sections on Taxation and Estates and Probate)
    Member

  • Connecticut Bar Association (Estates and Probate Section)
    Former Member, Executive Committee

  • New Jersey Bar Association (Section on Real Property, Probate and Trust; Taxation)
    Member

  • American Bar Association (Sections on Taxation, Committee on Small Firm Tax Lawyers; Real Property, Probate and Trust Law)
    Member

  • Greater New Jersey Chapter of the Alzheimer's Association
    Board of Directors (Advisory Member)

Past Employment Positions

  • Personal Financial Planning Group of Ernst & Young; Washington, D.C., Senior Tax Consultant
  • Peterpaul, Clark, Corcoran & Costello, P.C.; Springfield, New Jersey, Partner (Tax and Trust & Estate Law)
  • Deener, Feingold & Stern, P.C.; Hackensack, New Jersey, Associate

Birth Information

  • 1963

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