Hanlon Niemann Blog | A Freehold, New Jersey Law Firm

By Fredrick P. Niemann, Esq., a New Jersey LLC Attorney

LLCs often involve a small number of shareholders who comprise ownership of the business. Business direction and decisions are typically dictated by those who are majority members, those owning more than 50% of the certificates (commonly misidentified as “share”), since they own the biggest piece of the company. This leaves those owning less than 50% of the certificates, known as minority members, as part-owners of businesses which they sometimes have little to contribute. This can present an unfortunate situation for those minority members, an LLC who are unhappy with company decisions being made, but who are unable to sell their interests in the company. Luckily, New Jersey law offers protection to minority members of an LLC, mainly the right against “oppression”.

Oppression is defined as an act directed at a minority member that personally frustrates their reasonable expectations of the role they play in the management, operation, and other general affairs of the company. Simply put, an oppressed minority member is one who does not get along with majority members, but is stuck owning shares in the company based on the majority’s refusal to buy them out. New Jersey statutes prohibit this type of behavior by the majority members. The law states that company’s and majority members may not act in a way that is detrimental to the interests of minority members.

Proving you are an oppressed minority member and entitled to relief from New Jersey Courts involves a two-step process. First, you must show misconduct committed by the company or majority members that is considered oppression. Courts will evaluate the misconduct in each case on an individual basis. Second, you must show that as a minority member, your interests or reasonable expectations in the company were harmed by the misconduct. Without proving a connection between the oppressive acts and the harm you suffered, you will unable to win an oppression case against your company and/or its majority members. It is also important to keep in mind that the harm you suffer can be a monetary interest, but does not have to be. Non-monetary interests such as being consistently silenced in all business decisions can be considered harm in certain situations. Remember, every situation is unique and the New Jersey Courts will consider each on a case-by-case basis.

If you are a minority member in a New Jersey LLC and believe your interests are being oppressed, call Fredrick P. Niemann, Esq., an experienced NJ LLC Attorney today. He welcomes the opportunity to speak with you about your situation and answer any questions you may have. Mr. Niemann can be reached toll-free at 855-376-5291 or by email at fniemann@hnlawfirm.com. He hopes to hear from you shortly.

By Fredrick P. Niemann, Esq., a NJ Passing on Your Business Attorney

Business owners work hard to create a successful business. They often look forward to retiring and passing along their business to their children. This is a proud time, where a parent gets to sit back, relax, and let their child flourish. Unfortunately, more and more businesses today are making the mistake of not planning for this business transfer. The results have been harsh, with many parents being unable to pass their businesses on to their children due to unforeseen taxation issues that arise upon this transfer. Planning for this business transfer can significantly increase the odds of successfully passing your business along.

Most individuals misunderstand the complicated logistics in passing a business to a successor. Business owners often have the impression that since they have a child willing to take over the company, they can simply take a back seat one day and give the child the business. Unfortunately, finding a successor for the business often turns out to be the least of a business owner’s worries.

Taxation can present one of the most significant obstacles to family business owners wishing to pass their business along. Depending on how you plan on passing your business to your child, whether it be through gifting it at some point during your life, passing it through your estate upon your death, or placing the assets of the business in a trust and passing the business along via the trust, different tax implications will ultimately arise. One must consider these tax implications when determining how and when the appropriate time is to pass their business along. Businesses often collapse because their owners are not prepared for the significant taxes that they are forced to pay when transferring the business. A knowledgeable Business Succession Planning Attorney can guide you as to the best method of transfer and most appropriate time period to transfer. 

Business owners may also face other obstacles when attempting to transfer their business, making consultation with a Business Succession Planning Attorney even more important. Some of these challenges include lack of teamwork among children whom the business is being passed to, second-thoughts about letting go by the business owners themselves, and lack of planning as to the direction of the business. Business Succession Planning attorneys are aware of the significant challenges presented to business owners. They can guide you as to what you can expect when the time comes for you to finally pass your business along. Please call Fredrick P. Niemann, Esq., a NJ Business Succession Planning Attorney today. He can be reached toll-free at 855-376-5291 or by email at fniemann@hnlawfirm.com. He looks forward to discussing this important subject with you.

By: Fredrick P. Niemann, a NJ Accredited Veterans Benefits Attorney

You may be eligible for a monthly check from the VA in many cases of between $985.00 and $1959.00 per month (or more) for military services you (or your spouse) performed for our country many years (even decades) ago.

If you want the bottom line and you want  to find out if its likely you’re eligible for a monthly check from the VA (I say likely eligible because of course the VA makes that decision), then the quickest way to find out is to call my office at (732)863-9900.

Then, after scheduling a brief in person meeting or phone conversation with me, I’ll be able to give you an understanding of what benefits may, or may not, be available through the VA.

If there are things we can do to help you get qualified, we’ll let you know.  And if there is nothing to do or no steps to take we’ll let you know that too.

Wouldn’t it be nice to have a trusted guide, someone who has been on this path many times before, shine a light and show you where to go and what pitfalls to avoid? That’s what I do for my clients as I take them towards VA benefit eligibility.

If you would like to discover if you are eligible for a VA benefit, call me at (888)800-7442.  Or, if you would prefer, email me at fniemann@hnlawfirm.com and ask me to follow up with you.  That way, if you need answers you have got a place to turn to.  And I am happy to help you right away if you would like.

In the meantime, here is the information I promised you:

So if you want to know about the veteran’s pension benefits maze?  I know if looks daunting!  This is exactly why at our firm we call it a “maze”.  Take a quick look now, but don’t worry-we are going to walk you through all of this in plain old English during our consultation… and there may well be a very big payoff for you and your loved ones by the time we finish going through the VA maze.

Benefits Chart 2011 Figures

Service Pension Rates (The veteran is alive):

Service Pension
Maximum Annual Pension Rate - $985.00
Monthly MAPR - $11,830.00
With one dependent:
Maximum Annual Pension Rate - $1,291.00
Monthly MAPR - $15,493.00

Housebound
Maximum Annual Pension Rate - $1,205.00
Monthly MAPR - $14,457.00
With one dependent:
Maximum Annual Pension Rate - $1,510.00
Monthly MAPR - $18,120.00

Aid and Attendance
Maximum Annual Pension Rate - $1,645.00
Monthly MAPR - $19,736.00
With one dependent:
Maximum Annual Pension Rate - $1,959.00
Monthly MAPR - $23,396.00

For each additional dependent child:
Maximum Annual Pension Rate - $168.00
Monthly MAPR - $2,020.00

Death Pension Rate: (The Veteran is not alive):

Death Pension
Maximum Annual Pension Rate - $661.00
Monthly MAPR - $7,933.00
With one dependent child:
Maximum Annual Pension Rate - $865.00
Monthly MAPR - $10,385.00

Housebound
Maximum Annual Pension Rate - $808.00
Monthly MAPR - $9,696.00
With one dependent child:
Maximum Annual Pension Rate - $1,012.00
Monthly MAPR - $12,144.00

Aid & Attendance
Maximum Annual Pension Rate - $1,100.00
Monthly MAPR- $13,195.00
With one dependent child:
Maximum Annual Pension Rate - $1,261.00
Monthly MAPR - $15,128.00

For each additional dependent child:
Maximum Annual Pension Rate - $168.00
Monthly MAPR - $2,020.00
Well that’s a lot to absorb.  But here’s the point, if you qualify you can receive between $600 and almost $2,000 per month in what is known as an Aid and Attendance Pension Benefit.

 
If you have any questions with regard to Veterans Pension Benefits, contact Fredrick P. Niemann, Esq; an experienced Veterans Benefits attorney toll-free at 888 800-7442 or e-mail him at fniemann@hnlawfirm.com today.