There are severe civil and administrative penalties for misclassification of workers who should actually be employees as independent contractors. If a worker is classified as an employee, the employer must pay approximately an additional 7.5 percent of her salary in payroll taxes, as well as workers compensation insurance, and the…
Under New Jersey estate planning law, a living will, which is legally called an advanced directive, allows a person to give instructions for what care she is to receive her health is extremis. A living will must be in writing, signed and dated before two adult witnesses who attest that…
Virtually all residential landlords in New Jersey are required by law to register their apartments with the town in which the property is located. The only exception is when the owner of the apartment building lives in the building and there are less than three rental units in the building.…
Attorneys often focus on the importance of an estate plan and having a will to minimize costs and conflicts when a person dies. But it is just as important to plan for problems that may occur during people’s lives if they are unable to manage their own affairs, particularly the…
New Jersey landlord-tenant law offers residential tenants a great deal of protection to ensure that people have a secure and safe place to live, provided that tenants comply with their duties and responsibilities. A landlord/tenant relationship typically begins with the signing of a lease. The lease is a contract –…
In the current real estate market, when obtaining a bank mortgage is difficult and sellers are desperate, buyers should consider negotiating a “seller concession” into their real estate contracts. In most real estate transactions in New Jersey, the buyer pays most closing costs, which may include title searches and insurance,…
A self-cancelling installment note (“SCIN”) can be used to sell a business interest, stocks, real estate or other types of assets, usually to a family member of the current owner. This is a variation of an installment sale where the remaining payments are cancelled upon the death of the note…
The irrevocable life insurance trust (“ILIT”) provides an accessible means of avoiding New Jersey and federal estate taxes on life insurance proceeds. The potential savings often outweigh the disadvantages of what you give up. The New Jersey and federal “estate taxes” are taxes on the transfer of property at your…
Many fitness centers have begun to open around New Jersey. Owners should be aware that New Jersey strictly regulates businesses that provide “physical fitness or physical well-being” services. For example, every health club facility must register with the New Jersey Division of Consumer Affairs and renew the registration every two…
Creditors in New Jersey should not be dissuaded from trying to collect what is owed to them because debtors transfer their assets. New Jersey law protects creditors’ rights by imposing penalties for debtors who transfer assets to prevent collection of a valid debt. The Fraudulent Conveyance Act of 1919 has…