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Forbes recently published an article discussing the four most common myths about estate planning. One of those myths is that it is not necessary to revise an estate plan after establishing it. This myth was listed at number four, but it should have been at the top of the list. It is not only one of the most common myths, but also one of the most dangerous. In our busy lives, it is already a...

Business owners that have several contractors under their employment should have a good understanding of what mediation is. This negotiation process is used often by companies for employment legal problems that could cost additional money and time for both clients in litigation. However, if the case turns out to have more complications, then mediation may also end up as a waste of time before heading to court. Even though mediation has become an increasingly popular...

Starting a business is rarely easy. Maybe someone has a great idea, but it takes a unique entrepreneurial spirit to get things off the ground. And one of the essential steps in that process is choosing the right legal structure for the company. Some methods of organization offer more flexibility, but less optimal tax treatment. Others protect owners from liability but require a more formal structure. According to the U.S. Small Business Administration, the most...

The objective a thoughtful estate plan is to address the unique and sometimes pressing needs of a client and their family. Some plans are straightforward because there is only a single child or spouse, but the high rate of divorce means that many drafting a will, trust or estate plan often will include second (or third) wives, biological children and step-children. It can get even more tangled if there are grandchildren or even great-grandchildren involved...

While the emotional effects of losing a loved one can linger for a long time, there are some important realities those close to the deceased will have to deal with in the short term. One of those important items will be the disposition of that person’s property, known as the process of estate administration. When a person passes away, that person’s estate enters probate, which is directed by the courts. The court will oversee this...

If you are someone who has been diligent in managing and saving your money so that when you pass you can provide a significant amount of assets to your heirs, you may be frustrated with a process called probate. Based on the size of your estate, when going through probate your beneficiaries may not be receiving as much of your inheritance as you may have wished. At the time of your death, the legal process...

Life can change in the blink of an eye. As such, it is pretty safe to assume that things can change a great deal over the course of several years, including a person’s financial situation. This can lead to an heir receiving a much smaller inheritance or even no inheritance upon the death of a loved one. In many cases, beneficiaries of a deceased party are completely unaware of a decedent’s financial affairs. While the...

Many people in New Jersey have an opinion on what end-of-life medical care they would like to receive when the time comes. There are a variety of legal documents that a person can execute through estate planning, to ensure these wishes are met. Two of these documents are a power of attorney and a living will. A health care power of attorney is a document in which a person designates someone to make health...

Small business owners in New Jersey may be eager to see their fledgling enterprise grow into a profitable business. After all, they may have put much thought and care into the creation and running of their business. However, that doesn’t mean there won’t be some stumbling blocks along the path to success. There are a variety of small business law conflicts that could arise within the course of doing business. For example, breach of...

The consumer-driven model of health care has been commonplace in the United States since the early 2000s. Rapidly picking up steam in the medical insurance marketplace since 2005, high-deductible policies, paired with a Health Savings Account (HAS) have become the norm. As a result of this, more Americans are paying the entire bill for much of their health care, that is, unless they meet their four-figure deductible. While lowering health care premiums for some,...