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May 2017 Archives

What steps should you take in the dissolution of a business?

New Jersey residents start businesses to make a profit. However, not all businesses stay open for decades at a time. Sometimes, it becomes necessary to close a business down, also known as "dissolving" or "winding up" the business. This isn't always a bad thing, as in some cases it means that the inventory of the business has been sold and the business owner is all set to retire. Or, maybe it is because the assets and employees of the company will merge with another company in a business purchase.

Lawsuit in New Jersey involving prescription drug company settles

Businesses in New Jersey are bound to run into legal problems eventually. For some, the only option is to fight the case all the way to a jury trial. But, for others, it can be more economical to settle out of court. For one company with pending business litigation in U.S. District Court in New Jersey, the latter was the option that was chosen.

Leaving your business in good hands

As a New Jersey small business owner, you know how difficult it can be to keep everything afloat. From daily expenses to future planning, there are many things for you to manage, control and carry out. It is normal to become wrapped up in the present, but it is also crucial for the longevity of your business to plan for the future as well. 

The different power of attorney documents

When considering the options in an estate plan, such as different types of trusts, a will and other options to pass on assets, some New Jersey residents may not be focused on a particular document that could help them now: a power of attorney document. But, there are different types of power of attorney documents to consider.

Make the right choice when it comes to trust planning

Why do New Jersey residents make the choice to include a trust in their estate plan? Well, for starters, as previous posts here have mentioned, a trust can be a great way to make sure that your assets are passed on in the most efficient way. For some, the main goal is to avoid probate court. For others, it is to minimize tax exposure. Whatever the reason, in many cases trusts can be a great tool to include in an estate plan.

Why worry about "due diligence" in business purchases?

Having the opportunity to explore the possibility of buying a business can be exciting for companies in New Jersey. When the conditions are right, businesses that are ready to expand might explore this possibility. However, when it comes to business purchases, there are certain steps that can be important, like going through the "due diligence" process.

"Payable on death" beneficiaries in estate planning

As our readers know from previous posts here, there are many different options to consider when it comes to estate planning. Different people enter the process with different goals, which means that different estate planning documents could be ideal for each individual's circumstances. For some people, avoiding the probate process is the highest priority. For these people, it might be smart to consider "payable on death" options in an estate plan.

An overview of the "cy-pres doctrine" and charitable trusts

Many people in New Jersey are finding out that it can be very beneficial to establish a charitable trust as part of an estate plan. These types of trusts allow a person or family to make sure that a significant part of their assets are designated to help a cause in which they believe deeply. However, as with many things in life, sometimes the purpose of these trusts can be frustrated in some way. In estate planning law, issues with charitable trusts can sometimes invoke what is known as the "cy-pres doctrine."

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