Essex County Business, Banking, Estate, Trust, and Tax Lawyers
The Lum Firm is located in Essex County, New Jersey and assists business clients throughout New Jersey and New York. Our commercial business law group specializes in Banking, Tax Law, and Estate and Trust Development.
Our commercial business group has demonstrated expertise in the areas of finance, taxation, mergers and acquisitions, banking, administration, real property, zoning, international transactions, loan workouts, creditor's rights, charter schools, and estate planning and trust related to business succession. Our commercial business group has recently handled cases for the FDIC. Additionally, we have worked in a variety of cases that relied upon our multi-discipline expertise including:
- Acting as counsel to a sponsoring trade organization.
- Workout activities involving loan and business restructurings.
- Lease, purchase, and sale of business and major industrial properties.
- Advising and implementing corporate divisions in both amicable and contested "commercial divorces."
- Assisting New Jersey based corporations in international transactions.
- Effectuating an amendment to the statutes of New Jersey resulting in excluding independent certified shorthand reporters as employees for purposes of the New Jersey unemployment tax.
- Devising hybrid consignment procedures to protect clients in certain circumstances against the prior lien holders of their customers.
The Lum Firm's commercial business group has years of experience in providing a broad range of services to New Jersey financial institutions, including:
- Structuring and closing large commercial loans, both real and non-real estate based.
- Litigation to collect all types of loans.
- Residential and commercial mortgage foreclosures.
- Defense of direct actions and counterclaims against financial institutions.
- General advice on both state and federal statutes and regulations.
Attorneys in The Lum Firm have appeared before the Internal Revenue Service, County Boards of Taxation, the New Jersey Tax Court, and the various federal courts involved in the determination of tax liability.
The Lum Firm's commercial business group has broad knowledge in tax law that is a great benefit to businesses seeking experienced representation on tax related issues. Our firm focuses on tax issues related to:
- Tax and business planning.
- Negotiating and structuring of the purchase and sale of ongoing enterprises.
- Formation of general and limited partnerships.
- Negotiating and drafting stockholder agreements, as well as redemption and cross-purchase agreements.
- Implementation of transactions for individuals, corporations, and pass through entities such as, "S" Corporations, partnerships, LLCS, LLPS, and grantor trusts.
Our commercial business group has recently handled many tax related cases including successfully negotiating with the New Jersey Division of Taxation regarding major applications of the state's Sales and Use Tax Law. These negotiations directly related to manufacturing, recycling, and maritime exemption. Additionally, we recently challenged the Internal Revenue Service's characterization of distributions as stock redemptions and voluntary, deductible medical payments as opposed to constructive dividends.
Estates and Trusts
Our firm has focused capabilities in trusts and estates, providing clients with a broad spectrum of services in the areas of income and gift tax minimization strategies, generation-skipping transfers, and estate tax planning and administration.
Our estate planning services include designing, drafting, and implementing sophisticated estate plans that require complex wills, living wills, durable powers of attorney, private annuity arrangements, private foundation documents, and various inter vivo trust agreements. Our estate planning attorneys have the experience to handle any estate planning need, including providing for the orderly transfer and reorganization of closely held business interests. Our expertise also includes income and estate planning for special family situations involving infants, disabled individuals, and the elderly.
If you are a business owner or an individual and need the assistance of a New Jersey with a broad range of business knowledge, contact the attorneys at The Lum Firm. Our attorneys offer clients inclusive business, banking, tax, and estate and trust services. Put our 135 years of experience to work for you.