Divorce attorneys are often asked the following question: “I am thinking about getting divorced. I own part of a family business. What should I be doing?” There are two questions to ask before answering. Do you have a buy-sell agreement? Talk of a buy-sell agreement among partners (and between family…
On Feb. 22, 2021 Gov. Phil Murphy signed into law the Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act, which established the framework for a legal, adult-use cannabis industry in New Jersey. By some estimates, recreational cannabis may grow to be a billion-dollar industry in the state over the next…
After much anticipation, New Jersey’s Governor Murphy signed the “New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act” into law on February 22, 2021. While this law made adult use recreational cannabis legal, the extensive law, together with a few “clean up bills,” did a whole lot more than…
To the owners of family businesses, estate planning can sometimes be an after-thought. Owners are often so involved in building their business and managing its daily operations that they do not have time to devote to the planning that will become important when the owner is ready to hand over…
Every state has an unclaimed property program holding forgotten property belonging to its residents such as uncashed checks, security deposits, abandoned accounts, and more. “Unclaimed property” generally refers to tangible (items in safe deposit boxes) and intangible (bank accounts, stocks, and checks) personal property. Eventually, the state takes over the…
The federal estate and gift tax exemption (known as the “basic exclusion amount”) has increased to $11.7 million per taxpayer in 2021. The exemption in 2020 had been $11.58 million. The increase means that in 2021, an individual can make gifts during life or at death totaling $11.7 million without…
On December 17, 2020, the New Jersey legislature passed the Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act (the “Act”), providing the framework for legal adult recreational cannabis use in New Jersey. The Act lays out the ground rules for licensing arrangements for the cultivation, packaging, distribution, advertising, and retail…
On the heels of President Biden’s Executive Order on Protecting Worker Health and Safety directing the Department of Labor and the Occupational Safety and Health Administration (“OSHA”) to issue “science-based guidance” to protect workers from COVID-19 exposure, the agency announced its updated guidance entitled Protecting Workers: Guidance on Mitigating and…
Now that COVID-19 vaccines are being administered to the general population, the Centers for Disease Control (the “CDC”) has issued new quarantine recommendations for individuals who have received the vaccination. Quarantine not necessary for vaccinated individuals outside a healthcare setting who meet certain criteria. Under the new CDC recommendations, individuals…
A recent decision from the New Jersey Appellate Division serves as a warning to employers requiring employees to sign a bevy of employment-related documents during an orientation period. The case, Imperato v. Medwell, LLC, concerned the enforceability of Mutual Agreement to Arbitrate all employment related disputes. The employee acknowledged that…