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A common question estate planning attorneys get is, “What happens if I die without an estate plan?” In a sense, everyone has a default estate plan through their state’s laws of intestacy. The laws of intestacy of the state where the deceased is domiciled are the state laws that control. What are laws of intestacy? The term, “laws of intestacy” refers to the state laws that govern who receives what is left in a deceased...

You have worked hard and you have done well. Your life includes a satisfying career and a family. You have been fortunate enough to accumulate some significant, valuable assets that you intend to give to your spouse and others of your choosing eventually. Before others inherit your assets, you may wish to pass those assets to your spouse. If that is the case, you might consider a joint will with your spouse . So, what...

When people are discussing estate planning, they tend to automatically think about a will. While this is undoubtedly a key document, there are others that can be essential to serve one’s goals. Depending on the circumstances, a trust might be a necessity. One type of trust that should be understood is a special needs trust. This will be useful for those who have a loved one who is getting payments from the government through a...

A will is an important legal document and no one should rush into making one. It is important to follow all the steps of properly executing a will. Failing to do so opens up the door to will contests, which can be costly and time-consuming, and can tear families apart. Self-proved wills Under New Jersey law, a will must be “self-proved” if it was executed after 1978. A self-proved will can be probated with no...

As a small business owner in New Jersey, you know the importance of paying your business income taxes on time. However, running a business is unpredictable and various things can happen that make you unable to pay your taxes. What happens if you don’t pay your business income taxes depends on your specific situation. You will be assessed penalties and interest if you do not make any payment by your due date. Pay whatever you...

According to a recent Caring.com survey, over 60% of us do not have an estate plan. Part of the reason for this is because estate planning is not necessarily the easiest thing to do, and it is a scary, depressing conversation. After all, it is all about what happens after we die, right? Not necessarily. An often-overlooked part of an estate plan is incapacity planning, i.e., planning for if you become incapacitated. Incapacitated? Incapacitated refers...

When you are creating your estate plan, one of the first steps you must take is choosing an executor or estate administrator to manage your affairs. While managing an estate may seem straightforward, it can often require a great deal of time and effort. Making sure to choose someone able and willing to handle this responsibility on your behalf is critical to successfully managing your affairs once you have passed away. The consequences of not...

When business owners start out their small business, there are a lot of concerns. At the beginning, they likely focus on choosing the right formation documents to create the best entity for their business. They want to maximize liability protection, minimize taxes and maximize their tax write-offs. What they may not be thinking about at the beginning though, is human resources practice to minimize potential discrimination lawsuits. Should I think about HR policies now? If...

Businesses should take steps to prevent and address misconduct and violations of laws and regulations. They can also face penalties if there is retaliation against whistleblowers. CEPA New Jersey employment law provides whistleblower protection under the Conscientious Employee Protection Act. CEPA protects workers’ jobs when they object to or report conduct that they reasonably believe violates a law or regulation, or is dangerous to the public health, safety and welfare. In the healthcare field, CEPA...

For many New Jersey residents, creating an estate plan does not mean that it is finished and will never be changed. This is especially true with a will. People who are proactive and vigilant with being prepared for the future can draft a will to ensure their property goes where they want it to go and other areas of their life are addressed. Still, as time passes, things change. Perhaps there was a divorce and...