As predicted last week, U.S. women’s apparel chain The Limited filed for Chapter 11 bankruptcy protection today in the United States Bankruptcy Court for Delaware on Tuesday, after closing all 250 stores, under case number 17-10124. See 10 Retailers to Watch for Possible Bankruptcy Filings in 2017.
This filing continues the trend in the competitive retail apparel industry with shrinking margins, high debt loads, and changing shopping habits of Baby-Boomers and Millennials.
Although The Limited’s stores are closing, the name may continue Continue Reading
One of the potential causes of action pursuant to which a party may seek to invalidate a Will is based upon an allegation that undue influence was exerted against the Decedent by a beneficiary to the disputed Will. Continue Reading
In a case of first impression entitled D.W. v. M.W., the Hon. Lawrence Jones, J.S.C. (Ocean County), has warned parents that their right to attend their child’s Little League games was in potential jeopardy due to “inappropriate public criticism and disparagement of coach decisions.”
The case, which has not concluded with a formal legal opinion, brings to attention a pattern of conduct referred to by Judge Jones as Little League Parent Syndrome. The “syndrome” goes beyond Little League and has in fact reared its head in a variety of children’s sporting events—sometimes with devastating results.
Trenton’s revaluation has been a long time coming. Originally slated for 2016, it’s official for 2017. Property owners are now receiving notices of the new assessments proposed by the revaluation company hired by Trenton and the Trenton’s assessor. If the new assessment is not scrutinized, the Taxpayer, whether the property owner or triple net tenant, will be stuck with the new assessment.
Trenton is a City in transition. Properties range from abandoned buildings and vacant lots to thriving offices, residential, retail, industrial, and other uses. Because of the vast range in the condition of properties in Trenton and their utility, sales and other data establish values that range all over the place. Simply put, the real estate market has not established a well-defined and clear guide to a property’s market value so the potential exists for a wide range of opinions as to the value of a particular property.
Once a party has decided to contest a Will, the question then becomes what is the next step in this process. The first pleadings that Plaintiff’s counsel prepare for the Court are a Verified Complaint, as well as an Order to Show Cause.
2016 ended on a high note with higher than expected holiday sales and overall a better real estate market. However, there were a number of retailers that sought bankruptcy protection. Some of the retailers, like Fairway and EMS, emerged as new entities in Chapter 11 bankruptcy proceedings while their operations continued. Yet others, like Sports Authority and PacSun, closed their doors, leaving open spaces for landlords.
As some readers may know, our Social Security system permits a divorced person (once eligible for benefits in the normal course of events) to receive the greater of (a) the amount he/she would be entitled to in their own name or (b) 50% of their ex-spouse’ benefit provided that the parties had been married for at least ten years and the person has not remarried.
Although New Jersey law generally holds that the marital partnership terminates upon a filing for divorce, the parties remain legally married until the subsequent entry of a Judgment of Divorce.
In ruling upon the validity of a contested Last Will and Testament, there are numerous witnesses whom a Court may hear testimony from in deciding whether to invalidate the will. As is the case in any litigation, fact witnesses who possess relevant knowledge with regard to the facts and allegations set forth in the Complaint are essential witnesses. These witnesses may possess knowledge with regard to the mental status of the Decedent at the time the disputed Will was executed, the relationship that the Decedent shared with his family members, and other issues concerning the Decedent’s physical health and general appearance at the time the contested Will was executed.
In addition to fact witnesses Continue Reading
On December 13, 2016, President Obama signed into law the Special Needs Trust Fairness Act as part of the 21st Century Cures Act. The new act allows first party special needs trusts to be established by mentally competent individuals with disabilities for their own benefit.
In the fall and early winter, as we approach the final days of the calendar year, the farthest thing from the mind of New Jersey taxpayers is their property tax bill. Months ago, the new tax bills were mailed and then filed away to be pulled out when quarterly payments are due. However, an astute taxpayer should make a note on the calendar for the last quarter of the year to look at the total assessment that appears on the tax bill and consider whether it reflects a fair or true value for the property. Acting proactively at this time of year can potentially shave significant dollars from a property owner’s tax bill, depending on the size of the assessment and the tax burden imposed by the municipality. Here’s why.