Life Insurance Trusts to Avoid Taxes

As, you probably know, life insurance proceeds are not taxable for income tax purposes. However, these proceeds are taxable for Federal Estate Tax Purposes. Unfortunately, this causes many families to suffer unexpected financial burdens after the death of a loved one because Federal Estate Taxes are approximately 50% on all assets over $600,000.00. For example, […]

Continue Reading 0

Insurance— “Agent” or “Broker”

So you think you know who you are dealing with when you make your auto and home insurance purchases? Think again! There are significant differences between “agents” and “brokers” which should not overlooked.Frequently, the purchase of insurance is something that needs to be accomplished quickly. For example, a new house purchase requires coverage be bound […]

Continue Reading 0

Tax Assessor’s Request for Information

In January of 1996, the Appellate Division of the New Jersey Superior Court handed down a decision which every owner of Real Estate in New Jersey should be aware of. In the case of Tower Center Associates v. Township of East Brunswick, the Appellate Court upheld the decision of the Tax Court which prohibited a […]

Continue Reading 0

Blowing the Whistle in the Workplace

In recent years, “whistleblower” statutes have grown in national prominence. New Jersey’s whistleblower statute, called the Conscientious Employee Protection Act (CEPA), N.J.S.A. 34:19-1 et seq., is a comprehensive statutory enactment. It applies to both private and public employment situations. The statute makes it unlawful for employers to take adverse employment action, including termination, against employees […]

Continue Reading 0

Agreements Not to Compete: Look Before You Leap

Many employers are requiring their employees to sign Agreements Not to Compete, or “Restrictive Covenants.” In the past, an employer had little recourse when a high-level, trusted employee “jumped ship” to a competitor, taking with him or her valuable information and/or customers. At one time, restrictive covenants were flatly outlawed. Today, restrictive covenants are a […]

Continue Reading 0

Website Design | Hamshaw Design