A high school athlete does not automatically need an LLC simply because they earn NIL income. An LLC may become more useful when NIL activity starts functioning like an actual business, with recurring sponsorships, meaningful income, expenses, contracts, merchandise, appearances, or other ongoing activity. There is another layer for high school athletes: many are minors. […]
A will can be contested in New Jersey when an interested person has a valid legal reason to challenge its validity. Simply being unhappy with an inheritance, receiving less than a sibling, or being left out of a will is generally not enough by itself. A successful challenge usually requires evidence of a recognized legal […]
A gray divorce generally refers to a divorce involving spouses age 50 or older. New Jersey does not use a separate set of divorce laws for older couples, but divorce later in life often involves different priorities because retirement, pensions, healthcare, Social Security, accumulated assets, and long-term financial security are much closer at hand. People […]
A business started before marriage may begin as separate property in New Jersey, but that does not always mean the entire business stays outside equitable distribution. The main questions are usually: What was the business worth when the marriage began? Did it increase in value during the marriage? What caused that increase? Were marital funds […]
A privately held business is usually valued by examining its financial performance, assets, liabilities, income, ownership structure, and future earning potential. Unlike a publicly traded company, there is no daily market price that tells the court exactly what the business is worth. In a high-asset divorce, that often means bringing in a business valuation professional, […]
Yes, a parenting plan can be changed after divorce in New Jersey, but a parent generally cannot just decide to stop following the existing arrangement. A modification usually requires either an agreement between the parents that is properly formalized or a court-approved change. Courts recognize that family circumstances do not stay the same forever. Work […]
Retirement accounts can be divided in a New Jersey divorce when some or all of the retirement benefit was earned during the marriage. This can include 401(k)s, pensions, IRAs, deferred compensation plans, and other retirement benefits. That does not mean the entire account is automatically marital property, and it does not mean every retirement account […]
When someone dies, assets owned solely in their name without a beneficiary designation or survivorship arrangement may need to go through probate. Assets with a surviving joint owner, a valid beneficiary designation, or proper trust ownership may transfer outside probate. Whether an asset goes through probate usually depends on how it is owned, how it […]
Missing a municipal court date in New Jersey can happen for many reasons. You may have forgotten the date, been unable to miss work, experienced an illness, or misunderstood whether you were required to appear in person. Even when the missed appearance was accidental, failing to appear can create additional legal problems. It may delay […]
Bankruptcy can eliminate many common debts, but it does not erase every financial obligation. Some debts are usually dischargeable, some generally survive bankruptcy, and others depend on the facts of the case. Whether a debt can be discharged may depend on: The type of debt Whether the filer uses Chapter 7 or Chapter 13 […]
