Insights Archives — Page 17 of 49 — Lindabury, McCormick, Estabrook & Cooper, P.C. Firm News & Events

3 Simple Steps Addressing Cybersecurity for Commercial Real Estate

Published on: November 3, 2020 | by Eric B. Levine

As technology associated with commercial real estate has evolved, landlords are confronted with conundrum: How to use new technologies to modernize buildings and increase profitability by attracting high quality tenants through maximizing tenant experience, while addressing the cybersecurity threats that accompany these new technologies?

The exact problem will differ based on the type of commercial property being offered by a landlord, but the overriding concern remains the same, namely, how to secure the property from cyber-security breaches. For instance, whether a landlord owns: (i) a climate controlled industrial property used for housing cloud servers, storing food or pharmaceuticals, (ii) a multi-tenant retail property with an open WIFI network and cloud-based security system, or (iii) a mixed use development with state of the art building systems, should the integrated building systems of these properties be accessed and manipulated by a hacker, it could wreak havoc on the tenants, who will seek relief from the landlord. What can a commercial landlord do today to prevent this disaster from occurring and protect its assets and reputation?

Step 1: Technology Audit

New Jersey Mandates Workplace Health and Safety Standards During COVID-19 Pandemic

Published on: October 30, 2020 | by Lindabury, McCormick, Estabrook & Cooper, P.C.

On October 28, 2020, Governor Murphy signed Executive Order No. 192[1] providing mandatory health and safety protocols aimed at protecting New Jersey employees during the COVID-19 pandemic. The executive order, which takes effect immediately, mandates that as of 6:00 a.m. on Thursday, November 5, 2020, all employers shall be required to adhere to the protocols set forth below. Any employer found to have violated the order may be subject to closure.

Social Distancing

Employees must maintain at least six feet of distance from one another wherever possible, including but not limited to during worksite meetings, orientations and similar activities that would traditionally require individuals to be present in a single room and in close proximity, in common areas such as restrooms and breakrooms, and when individuals are entering and exiting the workplace. Where the nature of an employee’s work or the work area does not allow for six feet of distance to be maintained, employers must require their employees to wear a mask and install physical barriers between workstations wherever possible.

The Hiring Process: Best Practices and Common Pitfalls

Published on: October 29, 2020 | by Lisa Gingeleskie

Employee Recruitment

Title VII prohibits employment discrimination based on race, color, religion, sex and national origin. Employers must be mindful of recruiting and hiring with Equal Employment Opportunity principles in mind and must implement practices that ensure recruitment and hiring decisions are not based on an employee’s protected status. Applications should be screened consistently – the same standards should be applied to everyone applying for the same position. Employers should also be mindful of the possible need to accommodate applicants who need assistance because of their medical condition or religious beliefs. For example, you may need to help a person with carpal tunnel syndrome fill out an application, or you may need to reschedule an interview originally scheduled for a religious holiday if the applicant’s religious beliefs prevent her from working on that day.

The Fair Credit Reporting Act and Background Checks

Attorney Stephen A. Timoni Offers Tips and Best Practices for Telehealth

Published on: October 21, 2020 | by Lindabury, McCormick, Estabrook & Cooper, P.C.

Lindabury attorney Stephen A. Timoni of the firm’s Health Care industry team was recently interviewed by Relias Media and offered tips and best practices for providers offering telehealth services.

Some of the topics covered in the article include:

privacy concerns due to the nontraditional electronic transmission of sensitive information among providers and patients

How Mediation Can Resolve Common Disputes That Arise During Will Probate

Published on: October 15, 2020 | by Honorable Katherine Dupuis, (Ret.)

Probate disputes often reflect the worst aspects of family law coupled with issues of undue influence.

At the time of a will probate dispute the court system is seeing the litigants at a trying period in their lives. They have lost a loved one and tensions are running high as to the actual intent of the deceased person. While the parties may be furious with one another, there is always the hope that some degree of familial ties can be preserved. Mediation is uniquely suited to resolve these tensions. The litigants can tell their sides of the story to the mediator, who has the time to listen. In my experience, it is very important for all litigants to feel as if their side of the dispute has been properly told. It is after this emotionally draining experience that they are ready to find common ground and solutions to the problems presented.

Challenges frequently arise when all heirs are not treated equally. One child may feel they had the burden of caring for the aging parent and should be compensated. A variation of this story arises when the elderly parent has given a power of attorney to only one family member. After death disputes arise as to assets that may have been spent by the child with the power of attorney. Rarely have receipts been saved, and frequently large amounts of cash have been paid to home health aide. Expensive litigation and a trial will only serve to reduce the assets. A mediator can help the parties narrow their actual disputes and discuss the cost of proving the righteousness of a position. The insight of a neutral third party is invaluable.

Disputes Between Business Partners Can Be Resolved Without Going To Court

Published on: October 13, 2020 | by Honorable Katherine Dupuis, (Ret.)

ALTERNATE Dispute Resolution of Business Claims

Business conflicts arise in a myriad of different situations, such as: minority shareholder claims, dissolution, allegations of self dealing, breach of fiduciary duty, and violations of restrictive covenants. Additionally, minority partners may allege they have been shutout of the business, or a stockholder may seek greater access to internal investigations. Individuals may also seek to have their interests bought out. Even where there is a governing document dealing with dissolution, there is frequently a dispute as to how it applies in a given situation. Any of these claims expose the business entity to damages and the high cost of litigation. Beyond that, there is the concern that corporate secrets or methods of doing business will be exposed to competitors. There may be concern that questionable tax practices may come to the attention of the court. Even if there is a confidentially order in effect, it is likely that the competitor will learn of the dispute and take advantage of the turmoil within the company. Similarly, an individual suing a business entity risks being labeled a trouble maker and having their business reputation compromised.

Mediation presents a more efficient, less expensive, and confidential method to resolve these disputes. The parties can agree on the ground rules for the mediation. Mediation can be undertaken immediately with the mediator permitting some discovery, or it can be started after the parties have already commenced litigation. The mediator can work with accountants, as necessary. Mediation is a viable solution when dealing with a problem of a small business and also when dealing with more complex issue such as interlocking corporations and closely held family businesses.

Reopening the Workplace Under COVID-19

Published on: October 1, 2020 | by Lisa Gingeleskie

As businesses reopen under COVID-19, it is imperative employers develop a plan that takes into account physical and behavioral modifications to the workplace, employee health screening protocols, workers’ compensation claims, employee accommodations and other considerations. There is no “one-size-fits-all” approach and employers must tailor their plans to evolving federal, state and local requirements as well as the nature of their specific business.

Physical and Behavioral Modifications

The Occupational Safety and Health Administration (“OSHA”) mandates employers to provide workplaces “free from recognized hazards that are causing or likely to cause death or serious harm,” including occupational exposure to COVID-19. Therefore, when reopening employers must implement changes to the physical layout and behavioral/hygiene protocols aimed at preventing the spread of the virus.

Uses of Disclaimers in Post-Mortem Planning

Published on: September 29, 2020 | by Lauren M. Mulcahy

The idea of giving up an inheritance might sound foolish, but in certain circumstances it can be a beneficial estate planning tool. While we as estate planning attorneys try to prepare for every possible outcome at the time of a death, there is no way to predict the timing of a death, the laws at that time, nor the assets a decedent will actually hold at death. Especially in today’s environment where COVID-19 has shocked our economy, the tax laws could change at any time.

A disclaimer or a renunciation is a refusal to accept an interest in property. No one can be forced to receive a gift or bequest; everyone has the right to either accept or refuse what is given. In certain situations, disclaiming may be more beneficial than actually receiving the gift. If the beneficiary of a decedent’s estate disclaims an asset passing to the beneficiary (the “disclaimant”) as a result of decedent’s death, the asset passes to the next-in-line beneficiary as if the disclaimant had predeceased the decedent.

Under federal law, a “qualified disclaimer” is an irrevocable and unqualified refusal by a person to accept an interest in property so long as the following requirements are met:

The SECURE Act Eliminated Stretch IRAs – Now What?

Published on: September 28, 2020 | by Elizabeth Candido Petite

The SECURE Act (“Setting Every Community Up for Retirement Enhancement” Act), which was enacted in December 2019, eliminated the “stretch IRA” – a feature of an inherited IRA account[1] that allowed the beneficiary to stretch out required minimum distributions (RMDs) over his or her lifetime, thereby deferring a significant amount of income taxes on the RMDs. Now, beneficiaries must withdraw the entire account over the 10-year period following the owner’s death. Doing so will significantly accelerate the income tax due with respect to the account.

Perhaps you are thinking: this is a piece of legislation coming from Washington – there’s got to be a loophole, right? The answer is: maybe. Here are a few planning ideas to consider in light of the SECURE Act:

Increase the number of designated beneficiaries.

The CARES Act Changes Retirement Account Rules – Again

Published on: September 28, 2020 | by Elizabeth Candido Petite

The CARES Act (Coronavirus Aid, Relief, and Economic Security), which became law on March 27, 2020, made some important modifications to retirement accounts for 2020. For example:

Required minimum distributions (RMDs) are waived, for both account owners and beneficiaries who have inherited an account.
The 10% early withdrawal penalty is waived for distributions up to $100,000, if any of the account owner, spouse or a dependent has been diagnosed with coronavirus; or if the owner has experienced adverse financial circumstances as a result of coronavirus.