Now is an opportune time for individuals to take advantage of low interest rates when reviewing their estate plans. One option that is available now, but may become limited by legislation pending in Congress, is known as a “Grantor Retained Annuity Trust” or a “GRAT”. A GRAT is a trust into which a client/grantor transfers […]
Who said that there is nothing certain in life other than death and taxes? I do not know who originated this statement, but it continues to ring true. We went through almost twelve months of the repeal of the Federal estate tax and, at the last minute (December 15, 2010), the House and the Senate […]
AFFORDABLE HOUSING IN NEW JERSEY We are waiting for the New Jersey Assembly to act on the Senate Bill which will abolish the New Jersey Council on Affordable Housing (COAH). Perhaps one of the only silver linings that comes out of this recession and the slow down of residential development, is the fact that hardly […]
As attorneys who represent both individual and corporate clients, we view New Jersey’s Consumer Fraud Act as a double-edged sword. If you are an individual consumer, New Jersey’s Consumer Fraud Act has bestowed upon you an avenue to seek damages (triple damages) if you have been the victim of “any unconscionable commercial practice, deception, […]
On May 7, 2009 the New Jersey Legislature signed the Site Remediation Reform Act (SRRA) which serves to dramatically change the manner in which parties remediate environmentally contaminated sites throughout the state. The legislation now places the responsibility of remediation squarely on private environmental consultants known as Licensed Site Remediation Professionals (LSRP). The intent […]
While Awaiting Congressional Reauthorization, Property Owners Located In Flood Prone Areas May Be Left Unprotected As Hurricane Season Approaches Insurance companies issue flood policies as part of the National Flood Insurance Program (NFIP) run by the Federal Emergency Management Agency (FEMA). The NFIP operates under authority from Congress that has to be renewed periodically. While […]
A Landlord’s Lament: Lead Paint In January of 2008, the New Jersey Legislature passed a law, which has been codified as N.J.S.A. 46:8-28.5, requiring lead paint inspection to tenant-occupied single or two family residential properties, including two-family properties in which one unit is owner-occupied. This requires landlords of these units to register with the […]
JUDICIAL INDEPENDENCE By: Darrell Felsenstein, Esq. Much has been written lately about judicial independence, following Governor Christie’s decision not to grant tenure to New Jersey Supreme Court Justice John E. Wallace. By all accounts, Justice Wallace’s time on the Court has been nothing short of exemplary. The New Jersey Constitution permits a Governor, after […]
Non–Profit Tax Exempts Must File! Under the Pension Protection Act of 2006, beginning in 2007 all non-profits qualified under Federal Law 501(c)(3), must file some type of 990 Return annually. Formerly, non-profit tax exempts with annual receipts of less than $25,000 did not need to file. This reminder is important now, because three (3) years […]
Time of Decision Or Not Time Of Decision? That Is The Question By: Stuart D. Liebman Members of the land use and development community here in New Jersey are waiting anxiously to see whether or not our new Governor, Chris Christie, signs the Bill that was recently sent to the Governor’s desk after being […]