Yes! If you own a vacation home, timeshare, investment property, or any other asset outside of the state where you are domiciled you must make sure it’s included in your estate plan. If you fail to include these in your estate plan, or fail to have an estate plan at all, your heirs will encounter issues, and usually the expense …
Ask Cari: What license is needed to sell wine in New Jersey?
To sell wine in New Jersey, one must hold a retail license. In New Jersey, retail licenses are “Class C” licenses. See N.J.S.A. 33:1-12. The types of Retail licenses are as follows: Plenary Retail Consumption license (this fee is set by the municipality and is between $250 – $2,500 per year), Plenary Retail Consumption license with “Board Package Privilege”, Seasonal …
Ask Cari: I Have a Problem with Employees Missing Shifts. Should I address this in my Employment Handbook?
I always tell my business clients that having an employee handbook is imperative. It is, essentially, the laws of the employment relationship. It can be as detailed as the employer would like and can cover anything that might arise affecting the employer/employee relationship. While many state and federal laws govern certain aspects of the employer/employee relationship, a lot is left …
Factors in Illinois to Determine Child Custody and Visitation (i.e., the “Allocation of Parental Responsibilities”)
I get a lot of questions during consultation on the factors to determine the allocation of parental responsibilities in Illinois. Although trial court judges are given a lot of deference to take into consideration the totality of the circumstances, the statute sets forth 14 concrete factors (and one catch-all factor) for the court to consider. They are: the wishes of …
What Happens to Your Student Loan Debt When You Die?
There are two issues many people prefer to avoid thinking about: death and debt. Unfortunately, both of these seems to be inevitable. Student loan debt is a part of life nowadays, particular for students obtaining advanced or professional degrees. As of 2017, the total national student debt is now over $1.4 trillion with college students graduating with an average of …
Illinois Family and Animal Law: “Custody” of Pets
As of 2018, matrimonial judges can consider the “well-being” of a pet in deciding whether there will be sole or joint ownership. The new law expands the Illinois Marriage and Dissolution of Marriage Act (“IMDMA”). Now, 750 ILCS 5/503(n) states that: “If the court finds that a companion animal of the parties is a marital asset, it shall allocate the …
4 Social Media Mistakes that May Put Your Company’s IP at Risk
Being active on social media is hardly a choice anymore for small to medium sized businesses—it’s a given. After all, your customers are there. Connecting with your target audience in the social web can boost your brand and level the playing field between you and big competitors with larger advertising budgets. But before you rush out to tweet a deal …
New York Matrimonial Law: Durational Spousal Maintenance Calculations
In New York State, the income cap for maintenance payor’s income in calculating temporary maintenance and post-divorce maintenance has increased to $184,000.00. Here is how maintenance would be calculated in an example where the incomes are as follows: Payor spouse’s Income: $200,000.00 per year. Payee spouse’s Income: $80,000.00 per year. Based on these figures, the adjusted gross income of the …
Pet Trusts: Some Considerations for Pet Parents
Estate planning is about protecting what’s important to you. Although much of the traditional estate planning conversation focus on surviving spouses, children, grandchildren, many pet parents wonder about what could happen to their “furry children” after their death or if they become incapacitated and unable to care for the pets. Read on if you’ve ever thought, “What will happen to …
Ask Cari: What License is Needed to Sell Wine in New York?
To sell wine in New York State, one would need a “Retail” license. The license options are: (a) Grocery or Drug Store Beer and Wine license, (b) Restaurant Wine license, (c) On Premises Liquor license, (d) Cabaret Liquor license, (e) Wholesaler or Manufacturer license-if you want to sell to other retailers, and (f) Liquor Store license. Cari and her team …
5 Steps to Take When Winding Down Your Business
There are many reasons business owners close up shop, including retirement, starting a new venture or, hopefully, because they’ve won the lottery. No matter what the reason, it’s important to diligently wind down a business before moving on. Here are five steps to take: Reach consensus. If you’re a sole proprietor, then the only consensus you need is your own. …