Over the past decade or so, many states have been eliminating their inheritance tax. In fact, only five states still have an inheritance tax, including New Jersey, Kentucky, Maryland, Nebraska and Pennsylvania. Though, at least our state, unlike Maryland, does not...
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Haddonfield Estate Planning And Small Business Law Blog
What is substituted judgment in a guardianship?
When thinking about estate planning in New Jersey, most people will focus on wills and trusts. However, there are other aspects to having a comprehensive estate plan that suits an individual’s needs. If, for example, a person is concerned about the possibility of...
What is an operating agreement and what does it do?
When setting up a business, it is important to be familiar with the legal tools to help the business owner do that. An operating agreement is one of those legal tools that can help protect the business owner and their business which is why it is valuable to be...
Know the basics on non-compete agreements
You may have a successful career in a large company in the big city, but as time goes on you want to leave your current employment to work for a smaller company such as one in the Haddonfield area. When this happens your new employer may want you to sign a non-compete...
How to select the right agent for incapacity
Incapacity planning is an important overall part of the estate planning process. It ensures the estate planner will be taken care of according to their wishes if they become incapacitated and are unable to handle their own financial affairs or direct their own medical...
When should people update their estate plan?
Planning for one’s future in New Jersey is important. It is important to plan for events that may occur and to ensure that they will be protected if unexpected events occur. It is also important that people plan for one’s death. This is typically done through estate...
There are common legal issues small businesses face
Organizing a business and legally starting it is just one of many steps a small enterprise in New Jersey must take in order to get the operation up and running at a profit. Along the way, businesses will no doubt face other legal issues. These common legal issues can...
The mechanics of a special needs trust in New Jersey
New Jersey families with a member who is disabled and cannot work face a troubling conundrum: many government programs, such as Medicaid and Supplemental Security Income, pay significant monetary benefits to disabled persons, but eligibility for these benefits depends...
What options are available when business owners divorce?
Married couples in New Jersey may own a successful and profitable business together. However, their marriage may not have been as successful as their business, and they may make the decision to divorce. When this happens, they have several options for handling the...
The roles and responsibilities of an executor
When creating an estate plan, individuals in New Jersey and elsewhere need to make some difficult decisions. While this often means considering what will happen with one’s property and assets after his or her death, it also requires one to name an individual to manage...