Estate and Family Business Litigation

Law Made Easy Press
www.shenkmaneducation.com

Business Video – Radio Show
Estate and Family Business Litigation

Martin M. Shenkman, P.C.
Law Offices of Martin M. Shenkman, P.C.
4 Forest Avenue
Paramus, New Jersey 07652

Glen Kazlow
Cole and Schotz, P.A.
Court Plaza North
25 Main Street
Hackensack, N.J. 07601

Estate and Family Business Litigation

Many people have family businesses. Because they are family business there
are tremendous problems that could erupt because of changing family relations.
This in turn could create a tremendous amount of litigation. Here are some tips
on how to deal with certain issues in estate and family business
litigation:

• Know what you are signing and agreeing to in family business
  documents.
  -You may be signing something that gives others permission to do something
  drastic.
• Do not play favorites with children in family businesses.
  -It creates great resent in the business workplace and in the family.
  -If you do decide to do this, stipulate this in the will very clearly.
• Make sure you have long term goals in mind.
• Make sure you have clauses for certain special children.
• Use a Terrorium clause.
  -Challenging the clause nullifies anything you might receive.
• Make sure you are leaving your estate to the appropriate people.
  -This can be ensured by reviewing wills yearly to make sure it is
  current.
• Keep all key business figures knowledge about future business
  plans.
  -This includes who will have control over the company in the future or in
  the event of your demise.

The above is a summary of a radio show episode on WVNJ Radio, with host
Martin M. Shenkman, of the Law Offices of Martin M. Shenkman, P.C., an estate
planner in Paramus, New Jersey with guest Glen Kazlow of Cole and Schotz, P.A. Listen to the video clip of this segment
on www.shenkmaneducation.com.

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