In our last Legal Update issue, we advised that on December 15, 2010, the House and the Senate agreed to a compromise on the estate and gift tax until the end of 2012. We are now moving into 2012, it is an election year and the temporary compromise we have enjoyed over the past few […]
A Health Care Directive, also referred to as a Living Will, is a very important document that every individual should have in place, regardless of such individual’s age or health. It is equally as important as a Last Will and Testament, and in certain circumstances, may prove to be a more important document. Few could […]
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 […]
Your business is your life’s work. Who will run it when you retire or if you die unexpectedly? Many family businesses don’t survive the transition from founder to second generation, primarily because of family discord and tax issues. A good business succession plan ensures a smooth continuation of the business after your departure, and maximizes […]
New Jersey Property owners, who have income producing properties such as commercial establishments, may desire to file a municipal tax appeal in these difficult economic times. A taxpayer, however, prior to doing so, must examine its records and be sure to respond to any and all mailings received from the municipal tax assessor’s office. Failure […]
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 […]
Health Care Reform is here. The law enacted last year is comprised of two acts, The Patient Protection and Affordable Care Act, which was signed into law on March 23, 2010 and the Health Care and Education Reconciliation Act, which was enacted on March 30, 2010. Both acts are commonly referred together as “Health Care […]
If you were to make a pie chart of your fixed expenses, municipal real estate taxes would more than likely encompass a sizable portion of that pie. However, with State and Federal governmental grants to the municipality on the decline, local government has no choice but to turn to its municipal property tax assessment to […]
Question: What do “business lawyers” do? Answer: Here’s the right question: What do good business lawyers do? And before we answer that: What is a small business? Small business is a relative term. A small business is the coffee shop around the corner, and it’s also a company with fifty million dollars or more in […]
During my short term at Wells, Jaworski & Liebman, LLP, I have learned that a good lawyer needs to be keenly attuned to our client’s needs. We often spend hours with clients to determine their various goals and discuss the development of their cases. With respect to litigation, during the course of the development of […]