Resources

A judgment may only be worth the piece of paper it is written on. The challenge is collecting on a judgment. There are many ways to evaluate the assets of a judgment debtor (or person who you won against in court) and many more ways to attempt to collect on a judgment. Remember, you cannot get blood from a stone.

It is always recommended that you have employees execute reasonable restrictive covenants (or non-compete agreements) and confidentiality agreements when you, as the employer, provide employees with confidential and proprietary business information and clients. However, just because your former employee does not have a restrictive covenant/non-compete agreement, does not mean that the employee can steal your clients and confidential information.

A current or prospective resident does not have any liquid assets but owns a home. What can I do to make sure we get paid?

This is one of the most common questions that I get from my clients who own Assisted Living Facilities.

Once upon a time, in a real estate market long, long ago, individuals would list his or her home and upon the sale, move into an assisted living facility, meeting all of the often stringent requirements. Now, with the escalating costs of senior care, prospective residents and their families wait until the last moment before deciding whether and where to move mom and dad. Frequently, this decision coincides with the decision to list the home and the fact that they cannot wait for the proceeds from the real estate closing to move into an assisted living facility.

Unfortunately, this is a topic that has impacted many New Jersey residents over the past several years. Economists may argue about whether the recession is over, but unemployment in New Jersey remains stagnant at 9.1%, slightly above the national average of 9.1%.