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Sometimes will are contested. An individual may believe that the will of the deceased does not accurately reflect their true wishes, due to the undue influence of another or they lacked the capacity to properly express their true wishes. Often, this takes the form of a beneficiary bringing the challenge, in an attempt to alter the will’s terms. But there is another avenue that does not involve the confrontation of a formal challenge. A meeting...

Estate planners may have questions about what they should include in their estate plan and what they should include in their will. It is helpful for estate planners to have answers to these questions, know what to include in their will and if spouses should have separate wills. Separate wills for spouses It is a good idea for spouses to have separate wills and in some states joint wills between spouses are not recognized. Though...

The economic turmoil of the past 18 months has been hard on New Jersey’s small businesses. With things now starting to return to something closer to normal, many of these businesses have struggled to return to the level of service their customers expect. One reason for this has been a labor shortage. The causes of this shortage are complicated and somewhat controversial, but several new initiatives by state and local government take aim at the...

Small businesses and aspiring entrepreneurs in New Jersey will quickly realize that one of the biggest challenges is finding the necessary capital to start a new enterprise or keep one running. While some may be able to attract investors who are willing to be repaid in future profits, most businesses will also have to get a conventional loan for at least some of their expenses. Getting a loan will mean going through underwriting, offering some...

A lot of people wait until the last minute to create or modify an estate plan. While there’s nothing inherently wrong with doing so, it does leave the door open to some legal issues that can linger for a significant period of time to come. In these circumstances, your estate or the estate of a loved one could end up facing validity challenges which, depending on how they turn out, can completely reshape asset distribution...

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 have both an estate and inheritance tax. Though, understanding the inheritance tax when doing an estate plan is extremely important. New Jersey inheritance tax The inheritance tax applies to those assets (gifts) transferred to...

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 being incapacitated and wants to ensure their affairs are handled in a way they deem appropriate, they will have a guardianship. The guardian will know the protected person’s desires and adhere to...

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 familiar with what they do and what should be included in one. What to include in an operating agreement An operating agreement can outline how the...

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 agreement. Before signing it is important that you understand how a non-compete affects your rights as an employee. The following is a basic...

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 affairs. For that reason, estate planners should know what factors to consider when selecting an agent. How to select an agent for incapacity Incapacity planning can be achieved through powers of...