All too often, small businesses imagine compliance with federal and state rules and regulations are the concerns of the big fish in the pond, that their noncompliance will go unseen, that sound compliance procedures and policies are not an essential part of the...
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Haddonfield Estate Planning And Small Business Law Blog
How does the probate process start?
People in New Jersey may have wills or they may not when they pass away. Whether they have a will or not though does not change the fact that most of the time administration of their estate needs to go through probate. This is the legal process that allows people to...
How do I pass down my New Jersey business to family?
If you own a business in the Garden State and you want to pass it on to your family members as part of your estate plan, you need to consider some key steps and concepts. New Jersey business succession planning is the process of preparing for the transfer of ownership...
When should you make changes to your estate plan?
Although you’ve put in a lot of thought and work to create your initial estate plan, it’s important to realize that these documents should change as major life events occur. Otherwise, your estate assets might end up passing down to someone you never intended to...
What items are included in an estate inventory?
Being appointed an executor for an estate in New Jersey comes with many responsibilities. As part of your executor duties, you must identify and locate all estate assets, value them and distribute them to the intended heirs and/or use them to pay off the estate debts....
Revocable and irrevocable trusts
Planning your estate can involve much more than writing your will. Depending on your goals, you may consider creating a trust. Trusts can be tailored for many purposes, but they are especially useful for protecting assets. Like your will, a trust can provide for your...
What is an LLC operating agreement?
The initial and most important decision for prospective business owners concerns business structure. For numerous reasons, the most popular type, the limited liability corporation (LLC), melds the advantages of a partnership with those of a corporation. Despite that,...
Estate planning for special needs children
When they are planning their estates, many New Jersey residents have their adult children and grandchildren as their top priorities. They hope to leave a legacy that will make life easier for their loved ones into future generations. One way to do this is by creating...
Executors and other fiduciaries have important legal duties
Like other states, New Jersey’s probate process relies on an estate administrator to gather a deceased person’s property, pay off all valid claims and distribute the balance to the person’s heirs. The property they have authority over is not their own. It belongs to a...
What will happen to your business in your divorce?
Many married couples in New Jersey find that starting a business together is the best way to support their families and work toward their goals. However, if the couple eventually decides to get divorced, both parties may be concerned about what will happen to the...