Kridel Blog

The Bank Secrecy Act of 1970 (BSA) was enacted to prevent white collar crimes such as money laundering, tax evasion, or other financial crimes. The BSA requires financial institutions, such as banks, credit unions, and other depository institutions, to assist government agencies and report any suspicious practice that might indicate criminal activity. One of the most notable requirements of the BSA is to report…

The most common bankruptcy filed is that of a Chapter 7, a liquidation for individuals or businesses which is designed to eliminate all debts. In exchange, your assets are liquidated, subject to certain exemptions, which allow you to retain certain assets. Secured debt is treated differently, as bankruptcy discharges debt, not liens, except in certain circumstances. A Chapter 13 is…

In New Jersey, if your loved one passes without a Will, there will be no legal remedy for which to honor his or her wishes regarding their estate. However, this does not necessarily mean you are out of luck. There is a certain procedure as to how a fiduciary appointed by the Court will distribute the estate of someone who passes without…

When filing for bankruptcy, one of the questions often asked is whether or not tax debt is dischargeable. The long and short of it is yes and no. Yes, some tax debt is dischargeable, as long as certain requirements are met. And no, most tax debt cannot be discharged. WHAT TYPE OF TAX DEBT IS DISCHARGEABLE? The tax debt must be income tax. If…

WHAT IS A TRUST? Very simply put, a trust is a device that allows your contemplated beneficiaries to skip the Court process of probate, as to the assets that you wish to have them receive directly. This saves time and money with respect to Court and attorney fees, and likely additional grief after your loved one passes. Assets that you…

“The only difference between death and taxes is that death doesn’t get worse every time Congress meets.” -Will Rogers Taxes have been the talk and fascination of many politicians, comedians, actors, business people, and other individuals of every economic class and working background. For some, filing taxes reaps benefits in the form of tax refunds, while others may only feel…

If you have obtained a judgment against another party which is refusing to pay the monies you are owed, you have a few options. Your experienced New Jersey civil litigation attorney can advise as to which method of collecting the judgment might be most appropriate under your specific circumstances. METHODS OF JUDGMENT COLLECTION IN NEW JERSEY There are five main tools you…

In New Jersey, as in all other states, tax litigation appeals are heard at both the state and federal level, depending on the type and circumstances of the particular case. Our experienced tax attorneys in New Jersey handle both state and federal tax appeals. NEW JERSEY STATE ADMINISTRATIVE APPEALS IN TAX COURT If you are dealing with tax litigation at the state…

If you are considering bankruptcy and are worried about liens on your property, one of our experienced bankruptcy attorneys in New Jersey can explain the different bankruptcy chapters and how Chapter 13 bankruptcy specifically can aid homeowners facing either imminent or existing property liens. WHAT IS A PROPERTY LIEN UNDER NEW JERSEY LAW? A property lien is a judicial tool with which…

Businesses can have a variety of valuable assets, including securities, real estate, costly equipment, and expensive office space. However, some of a company’s most valuable equity is in intangible assets, such as customer goodwill, client lists, and name recognition. Although these assets are often intangible, they can and should be appraised and valued during bankruptcy proceedings. INTANGIBLE ASSETS The concept of goodwill is…