Blog

When starting up a business there are different options to consider, including if the entrepreneur wants to start a business from scratch or consider a franchising opportunity. For that reason, entrepreneurs should be familiar with the potential benefits of being a franchisee. Rewarding: Flexible schedule: Minimize risk: Benefit from ongoing support and training programs: Access to a new business market and economies of scale and benefit from known brand name: Marketing materials and marketing support:...

It is difficult to think about the future when the present is so unexpected. Nonetheless, individuals in New Jersey and elsewhere should take the time to consider what they want for their future and what can be done now to protect it, especially when it comes to their loved ones and their inheritances. No matter a person’s age, if they are single or married, have children or not or in school or in a career,...

If you are a small business owner in New Jersey, such as the sole owner of a small manufacturing company, you may want to make sure your employees understand their rights and duties. One way to accomplish this is by executing a comprehensive employee handbook. Doing so can help prevent legal claims, such as a sexual harassment suit, before they arise. The following is an overview of some important clauses that you may want to...

No matter the size, scope or age of an organization, it is wise for business owners to have a solid succession plan in place. While some natural succession might occur – assistant managers becoming managers, for example – it is important that business owners take a careful look at staff and the future needs of the company. There are certain mistakes that managers make, however, that can completely derail a well-developed succession plan, including: Don’t...

There are few guarantees in life for people in New Jersey, however, one of them is that people will continue to grow older and eventually they will pass away. It is not something people like to think about all the time, but it is going to happen and it is important that people plan for it. People cannot bring their belongings with them when they pass and they generally want their property to end up...

During our current economic climate, estate planning has become a hot topic. Indeed, last week, we analyzed several factors that may mean that one needs to craft an estate plan. And, this week, we will go over additional considerations. Estate size The most talked about reason for an estate plan is one’s estate size. For single and young people, their estate size is such that they can likely just put a payable on death designation...

Many Haddonfield area residents don’t think about estate planning until they’ve reached the age of retirement. This can be a mistake, though, as nearly everyone should have some sort of estate plan in place. What are the life stages where a person should consider an estate plan? First baby and subsequent children When a couple has their first child it can be a good time to create an estate plan. The estate plan should include...

Being selected as an estate executor may be an honor. Before accepting this position, however, you should understand the important probate and estate administration duties that executors must perform. The estate Executors act on behalf of the testator who signed the will and handle all the testator’s financial and other final arrangements. New Jersey law also governs these duties. Regardless of the estate’s size, you must determine whether you have the time and knowledge to...

Business owners often work day and night to ensure the growth and success of their organizations. However, when it is time to design an exit strategy, many professionals hesitate to develop a comprehensive succession plan. Often, this crucial step is avoided based on commonly held beliefs that have no foundation in data. Here are five common myths that can influence a business owner’s decision to create a succession plan: Succession planning is focused squarely on...

When preparing an estate plan, the estate planner should think thoughtfully and carefully about what they would like their estate plan to achieve and do for them and their loved ones. They should also be familiar with how an estate plan can help them accomplish their goals for their estate plan, plan for their future and care for their family. Considerations to take into account when estate planning The estate planning process is different for...