Holiday parties that had fallen victim to the economic recession are now back at many offices across the country, and are a wonderful way to show your appreciation for your employees and their hard work during the year. However, business owners are also wary of hosting parties that could leave them with a legal hangover. […]

If you have a family business that you wish to leave to heirs after you retire or die, then it is imperative that you tackle the task of business succession planning — especially if you have a blended family or if there will be multiple generations involved. Some of the key planning issues you will […]

As a business owner, choosing the entity structure for your new venture is one of the most important decisions you will ever make. There are both tax and legal consequences to each different entity type, and examining the pros and cons of each before making a final decision is a smart move. If you are […]

Unfortunately, New Jersey homeowners already in danger of losing their primary residence to foreclosure face another potential financial hardship known as a post-foreclosure deficiency judgment. When a home is sold in a foreclosure sale for an amount that is less than what the homeowner still owes on the mortgage loan, this causes a deficiency. For […]

In New Jersey, lenders must file a lawsuit in order to foreclose on a home. After the housing market crisis several years ago where thousands of homeowners were forced from their homes, many lenders were required by new laws protecting consumers to offer alternatives ways to deal with underwater mortgages in order to prevent foreclosure. […]

New Jersey is a judicial foreclosure state, which means that your foreclosure action must be brought before a court.  You may be able to put the foreclosure action on hold pending court review if you can successfully challenge it with one or more of the following defenses: Mortgage ownership – The foreclosing party must be […]

To reorganize under Chapter 11 bankruptcy, big corporations and small businesses generally have to follow the same rules. However, special provisions exist for small business debtors that can speed along the Chapter 11 process To qualify as a small business debtor under the Bankruptcy Code, a person or company must: Be engaged in commercial or […]

Corporation owners are required to maintain corporate records, including documenting major corporate decisions, as well as hold meetings of shareholders and Board of Directors. If these formalities are neglected and the company has legal problems, shareholders could be held personally liable for corporate liabilities if a court finds the proper formalities were not followed and […]

If you are in the process of starting a new business, deciding on whether or not to incorporate that business can have long-term consequences when it comes to taxation and personal liability protection. This is why it is important to separate myth from fact about business incorporation; here are five common misconceptions: Incorporation allows businesses […]

The decision on how to incorporate a new business is one of the most crucial any business owner will ever make. To make the right choice, a business owner needs to consider his or her goals — business, personal, and financial — as well as future interests. Generally, business owners who choose an LLC structure […]