In Memoriam
We are heartbroken to announce the unexpected passing of our dear friend and partner, Charles Detrizio. A colleague to many at the firm for nearly two decades, Chuck played an instrumental role in the formation, growth and direction of Sherman Wells. Sherman Wells took great pride in Chuck, not simply because of his intelligence and superior work ethic, but also because of his kindness and passion, which has helped shape the culture that Sherman Wells so deeply values. Read More
We are heartbroken to announce the unexpected passing of our dear friend and partner, Charles Detrizio. A colleague to many at the firm for nearly two decades, Chuck played an instrumental role in the formation, growth and direction of Sherman Wells. Sherman Wells took great pride in Chuck, not simply because of his intelligence and superior work ethic, but also because of his kindness and passion, which has helped shape the culture that Sherman Wells so deeply values. Read More-
Corporate Alert March 202003/2020
In This Issue:
- Cash Flow Assistance for Small Businesses: Potentially Forgivable Paycheck Protection Loans
- Tax Credits for Employers Who Provide Coronavirus-Related Leave
- Force Majeure Clauses and COVID-19
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2020 Estate Planning Essentials Guide - NJ Edition02/2020
A broad overview of wills, trusts, estate and gift taxes, and important planning techniques and documents.
If you have questions, please contact any of the attorneys in our Tax and Trusts & Estates Practice Group. Nothing in this booklet should be relied upon as legal advice in any particular matter. -
Tax and Trust & Estates Update February 202002/2020
In This Issue:
- The New SECURE Act’s Effect on Estate Planning for Retirement Plans
- Relief from Federal Limitation on Deduction for State and Local Income Taxes for Some New Jersey Business Owners
- Private Foundation Excise Tax Rate Simplification – Law Change Effective 2020
- Misleading Notices from Third Parties of Annual Report Delinquencies for New Jersey Entities
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Banking Alert January 202001/2020
In This Issue:
- New Jersey Appellate Division Affirms Summary Judgment Order Dismissing Dishonored Check Action and Order Awarding Attorneys’ Fees
- District Court Dismisses Claims Relating to Alleged Fraud in Wells Fargo Foreclosure Methods
- New Jersey Appellate Division Affirms Decision Vacating Final Judgment in Tax Foreclosure Action Against Mortgagee Based on Notice of Lis Pendens
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Banking Alert December 201912/2019
In This Issue:
- New Jersey Appellate Division Affirms Denial of Motion Seeking to Vacate Final Judgment of Foreclosure
- New Jersey Appellate Division Rejects Borrower’s Attempt to Avoid Foreclosure Based on Bankruptcy Order of Discharge
- New Jersey Appellate Division Affirms Foreclosure Judgment Entered Seven Years After Rejecting Borrower’s Loan Modification Argument
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Banking Alert November 201911/2019
In This Issue:
- New Jersey Appellate Division Reverses Dismissal of Complaint Seeking Repayment of Loans as Time-Barred
- Federal Court Dismisses Borrower’s Complaint and Sanctions Borrower’s Counsel
- Appellate Division Rejects Upholds Denial of Motion to Vacate Final Judgment of Foreclosure After Sheriff’s Sale
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Tax and Trust & Estates Update November 201911/2019
In This Issue:
- 2020 Inflation Adjustments for Tax Items
- If You Want to Make Gifts to Charities or Others in 2019, Be Sure Those Gifts Are “Completed” this Year for Tax Purposes
- Thinking of Converting your S Corporation to a C Corporation? Avoid this Trap for the Unwary.
- The Nonprofit Forum - Is it Time to Convert Your Private Foundation to a Donor-Advised Fund?
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Banking Alert October 201910/2019
In This Issue:
- New Jersey Appellate Division Affirms Priority of Bank’s Mortgage Lien Over Marital Possessory Interest
- New Jersey Appellate Division Rejects Challenge to Foreclosure Action Based on Unclean Hands Doctrine
- New Jersey Appellate Division Reverses Grant of Summary Judgment and Final Judgment of Foreclosure Due to Competing Notes Submitted to Court
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Banking Alert September 201909/2019
In This Issue:
- New Jersey Federal Court Dismisses FDCPA and CFA claims Under Rooker-Feldman Doctrine
- New Jersey Appellate Division Affirms Dismissal of Claim for Failure to Pay on a Dishonored Check
- New Jersey Appellate Division Refuses to Vacate Final Judgment of Foreclosure Despite Mistakenly Filed Satisfaction of Mortgage
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Banking Alert August 201908/2019
In This Issue:
- New Jersey Appellate Division Finds Service of NOI Deficient in Foreclosure Action
- New Jersey Appellate Division Affirms Final Judgment of Foreclosure
- New Jersey Appellate Division Finds that Borrower Lacks Standing to Challenge Transfer of Mortgage in Foreclosure Action
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Banking Alert July 201907/2019
In This Issue:
- New Jersey Appellate Division Rejects Homeowner’s Arguments That Assignee Did Not Have Standing to Foreclose
- New Jersey Appellate Division Finds Subsequent Mortgagee That Recorded First is Not Entitled to Priority in Foreclose Action
- New Jersey Appellate Division Affirms Summary Judgment in Favor of Bank in Residential Foreclosure Action
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Banking Alert June 201906/2019
In This Issue:
- New Jersey Federal Court Dismisses UCC and Common Law Claims Against Depository Bank
- New Jersey Appellate Division Refuses to Dismiss Foreclosure Complaint That Did Not Contain Allegations Concerning Assignments of Mortgage
- New Jersey Appellate Division Declines to Set Aside Sheriff’s Sale and Permit Redemption of Foreclosed Property
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Banking Alert May 201905/2019
In This Issue:
- New Jersey Appellate Division Affirms Dismissal of Guarantors' Counterclaims Asserted After the Parties Settled the Matter
- Plaintiff-Borrower Survives Motion to Dismiss FDCPA Claims Against Law Firm That Filed Underlying Foreclosure Action
- New Jersey Passes Into Law a Series of Reforms Directed at Foreclosure Process
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Tax and Trust & Estates Update May 201905/2019
In This Issue:
- The Perils of "Transfer on Death" (TOD) and "Payable on Death" (POD) Accounts
- Information That Can Help Your Family at the End of Your Life
- Sherman Wells Welcomes New Associate to the Tax and Trusts & Estates Group
- New Jersey Trustee Uniform Trust Code Disclosure Requirements – A Reminder
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Banking Alert April 201904/2019
In This Issue:
- New Jersey Appellate Division Affirms Denial of Motion to Set Aside Sheriff's Sale Based on Alleged Agreement to Reinstate Mortgage
- New Jersey Appellate Division Reverses Summary Judgment in Favor of Issuer of Allegedly Dishonored Check
- New Jersey Appellate Division Finds Bank Not Required to Disgorge Payments Received From Borrower in Excess of Foreclosure Judgment
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Banking Alert March 201903/2019
In This Issue:
- United States Supreme Court Rules Law Firm Filing Nonjudicial Foreclosure Action Not Subject to FDCPA
- New Jersey Appellate Division Rejects Borrower's Challenge to Mortgage Assignment Agreement in Defense of Foreclosure Action
- New Jersey Appellate Division Finds Bank Has Standing to Foreclose
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2019 Estate Planning Essentials Guide - NJ Edition02/2019
A broad overview of wills, trusts, estate and gift taxes, and important planning techniques and documents.
If you have questions, please contact any of the attorneys in our Tax and Trusts & Estates Practice Group. Nothing in this booklet should be relied upon as legal advice in any particular matter. -
Banking Alert February 201902/2019
In This Issue:
- New Jersey Appellate Division Upholds Final Judgment of Foreclosure and Request to Affix Amount Due
- New Jersey Appellate Division Reinstates Borrower's Counterclaims Based on Withdrawn Modification Agreement
- New Jersey Appellate Division Holds Recorded Assignment Sufficient to Establish Standing to Foreclose
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Banking Alert January 201901/2019
In This Issue:
- New Jersey Appellate Division Upholds Striking of Answer in Foreclosure Action
- New York Appellate Division Reinstates Aiding and Abetting Fraud Claim Against Bank Based on Issuance of Written Credit Reference
- New Jersey Trial Court Does Not Award 18% Default Interest to Lender as Damages
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Banking Alert December 201812/2018
In This Issue:
- New Jersey Appellate Division Upholds Dismissal of Borrower's Trespass Counterclaim Against Lender
- New Jersey Appellate Division Reverses Writ of Replevin to Title Owner of Vehicle
- Federal Court Holds That Rooker-Feldman Doctrine Bars Claims Related to Foreclosure Action
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Tax and Trusts & Estates Update December 201812/2018
In This Issue:
- Charitable Giving in 2018 under the Tax Cuts and Jobs Act of 2017
- If You Want to Make Gifts to Charities or Others in 2018, Be Sure Those Gifts are "Completed" this Year for Tax Purposes
- 2019 Inflation Adjustments for Tax Items
- The New Qualified Business Income Deduction – Still Lots of Uncertainty
- Breaking New Jersey News – New Jersey Offers Tax Amnesty until January 15, 2019
- More Tax Accounting Options for Small Businesses in 2018
- Another Reminder About IRS Revised Partnership Audit Procedures
- A Note about the Registration of New Jersey Private Foundations
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Banking Alert November 201811/2018
In This Issue:
- U.S. District Court Applies Rooker-Feldman Doctrine to Plaintiff's Complaint Attacking Foreclosure Judgment
- New Jersey Appellate Division Affirms Bank's Standing to Foreclose
- New Jersey Appellate Division Upholds Modification of Loan Agreement Made in a Series of Emails
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Banking Alert October 201810/2018
In This Issue:
- New Jersey Appellate Division Affirms Trial Court's Decision to Reform Mortgage to Include Different Property Than Identified In Mortgage
- New Jersey Appellate Division Affirms Trial Court's Determination That Bank Had First Priority Purchase Money Mortgage in Priority Dispute
- New Jersey Appellate Division Holds That Alleged Lack of Standing is Insufficient to Vacate Final Judgment of Foreclosure
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Banking Alert September 201809/2018
In This Issue:
- Third Circuit Affirms Denial of Bank's Motion for Mutual Judgment Satisfaction Under Federal Rule of Civil Procedure 69
- District Court Grants Loan Servicer's Motion to Dismiss Claims
- New Jersey Appellate Division Affirms Denial of Motion to Stay Sheriff Sale
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Tax and Trusts & Estates Update September 201809/2018
In This Issue:
- Trustees Beware: Trust-Owned Life Insurance Needs a Regular Review to Avoid Trustee Liability
- Tax Alert: No Estate Tax in New Jersey Doesn't Mean No Estate Administration
- Sherman Wells Proudly Announces Three New Members of the Tax and Trusts & Estates Group
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Banking Alert August 201808/2018
In This Issue:
- New Jersey Trial Court Applies Doctrine of Equitable Subrogation to Mortgage Priority Dispute
- New Jersey Supreme Court Adopts Daubert Factors
- New Jersey Appellate Division Affirms Entry of Summary Judgment and Final Judgment of Foreclosure
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Banking Alert July 201807/2018
In This Issue:
- New Jersey Appellate Division Finds Predatory Lending Allegations Sufficient to Sustain Consumer Fraud Act Counterclaim
- New Jersey Appellate Division Affirms Reinstatement of Foreclosure Action Based on no Lack of Prejudice to Borrower
- New Jersey Appellate Division Affirms Foreclosure Judgment and Rejects Defendant's HOSA Counterclaim
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Banking Alert June 201806/2018
In This Issue:
- New Jersey Federal Court Denies Motion for Appointment of Receiver
- New Jersey Appellate Division Upholds Final Judgment of Foreclosure Where Mortgage and Note Were Originally Held by Two Different Entities
- Update: CFPB Dismisses Case against PHH; U.S. District Court Holds CFPB Structure is Unconstitutional
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Banking Alert May 201805/2018
In This Issue:
- New Jersey Appellate Division Affirms Dismissal of Claim Against Bank for Honoring Prison's Endorsement of Plaintiff-Prisoner's Check
- New Jersey Appellate Division Upholds Final Judgment of Foreclosure Despite Challenges to Service of Process
- New Jersey Appellate Division Finds That Contesting Answer Was Properly Stricken And Foreclosure Action Was Timely Filed
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Banking Alert April 201804/2018
In This Issue:
- New Jersey Appellate Division Finds Bank Had Standing and Timely Filed Foreclosure Action
- New Jersey Appellate Division Reverses Trial Court's Decision That Notice of Intent to Foreclose Need Not be Served on Debtor's Estate in Case of Reverse Mortgage
- "Law of the Case" Doctrine Preserves Foreclosure Ruling in Favor of Bank
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Banking Alert March 201803/2018
In This Issue:
- New Jersey Appellate Division Upholds Priority of Mortgage and Loan Modifications Over Discharged Lis Pendens
- New Jersey Appellate Division Affirms Grant of Summary Judgment and Award of Fees on "Frivolous" Consumer Fraud Action Claim
- Federal District Court Dismisses Seeking to Prevent Sheriff's Sale
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Banking Alert February 201802/2018
In This Issue:
- D.C. Circuit Court of Appeals, En Banc, Holds That CFPB Structure is Constitutional
- New Jersey Appellate Division Finds Plaintiff is Not Holder in Due Course of Dishonored Check
- New Jersey Appellate Division Affirms Final Judgment of Foreclosure
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Banking Alert January 201801/2018
In This Issue:
- New Jersey Appellate Division Upholds Judgment Against Self-Represented Guarantor
- New Jersey Appellate Division Enforces Arbitration Clause Contained in Online Agreement
- New Jersey Appellate Division Reverses Trial Court’s Turnover of Funds in Joint Account
- Sherman Wells Announces New York Office Move
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Tax and Trusts & Estates Update January 201801/2018
In This Issue:
- Estate Planning Cautions and Opportunities in the Aftermath of the Tax Cuts and Jobs Act of 2017
- Existing Testamentary Plans of Individuals Residing in New Jersey
- Existing Testamentary Plans of Individuals Residing in New York
- Formula Bequests for Generation-Skipping and Charitable Gifts
- Planning Opportunities
- Sherman Wells Announces New York Office Move
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Tax and Trusts & Estates Update December 201712/2017
In This Issue:
- The Tax Cuts and Jobs Act – How It May Affect You
-
Banking Alert December 201712/2017
In This Issue:
- Federal Court Rejects Defendant’s Attempt to Avoid Class Action Under TCPA
- New Jersey Appellate Division Affirms Trial Court’s Finding That Bank Had Standing to Foreclose
- New Jersey Appellate Division Affirms Summary Judgment to Foreclosing Bank and Subrogates Mortgage of Other Lender
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Banking Alert November 201711/2017
In This Issue:
- New Jersey Appellate Division Determines Foreclosing Bank is not a “Mortgagee in Possession” of Condominium Unit
- New Jersey Appellate Division Remands Trial Court’s Denial of Motion to Intervene Filed by Alleged Assignee of Mortgage in Foreclosure Action
- New Jersey Appellate Division Holds That Bank Can Foreclose After Several Assignments of Mortgage Loan
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Tax and Trusts & Estates Update November 201711/2017
In This Issue:
- 2018 Inflation Adjustments for Tax Items
- Proposed U.S. Tax Legislation – Stay Tuned
- The Nonprofit Forum Does Your Charitable Donor-Advised Fund Name Successor “Recommenders”?
-
Banking Alert October 201710/2017
In This Issue:
- New Jersey Appellate Division Reverses Trial Court’s Dismissal of Bank’s Claim of Holder in Due Course Status
- New Jersey Appellate Division Clarifies Scope of Home Ownership Security Act
- U.S. District Court Dismisses Action Based on Alleged Violation of HAMP
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Banking Alert September 201709/2017
In This Issue:
- New Jersey Supreme Court Upholds Enforcement of Settlement Reached in Residential Mortgage Foreclosure Program
- Assignment by Nominee Upheld as Valid by Appellate Division in Foreclosure Action
- Trial Court Dismisses Complaint Arising From Lender’s Refusal to Modify Loan
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Banking Alert July 201707/2017
In This Issue:
- Chancery Division Denies Request for Custodial Receiver in Residential Foreclosure
- Third Circuit Finds Single Phone Call Sufficient to Trigger Claim Under Telephone Consumer Protection Act
- Mortgagee Who is Non-Signatory of a Note is not Required to Receive Notice of Intent to Foreclose
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Banking Alert June 201706/2017
In This Issue:
- New Jersey Appellate Division Splits Deposit From Sheriff’s Sale Between Parties After Buyer Alleges Bank Failed to Disclose Prior Mortgage
- New Jersey Trial Court Finds That Borrower Did Not Execute an Enforceable Loan Modification
- New Jersey Appellate Division Finds FDCPA’s Venue Provision Irrelevant in Personal Jurisdiction Dispute
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Tax and Trusts & Estates Update June 201706/2017
In This Issue:
- January 1, 2018, Proposed Effective Date for Implementation of New Partnership Audit Rules Is Fast Approaching
- Generation-Skipping Tax Basics You Should Know
- The Nonprofit Forum - CAUTION: The Dangers of Non-Board Members on Board Committees
- Sherman Wells Proudly Announces Two New Members of the Tax and Trusts & Estates Group
-
Banking Alert May 201705/2017
In This Issue:
- New Jersey Supreme Court Holds Notice of Rejection in Real Estate Contract Via Email and Fax is a Commonly-Used Form of Communication and Valid
- United States Supreme Court Permits Municipalities to File Suit Against Lender Under FHA
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Banking Alert April 201704/2017
In This Issue:
- Appellate Division Rejects Standing Argument in Foreclosure Action
- Appellate Division Upholds Settlement Agreement Arising from Dishonored Check
- Appeal on Denial of Rent Receiver Deemed Moot by Foreclosure Judgment
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Banking Alert March 201703/2017
In This Issue:
- Litigation Reform Legislation Advances in the House
- Appellate Division Finds That Witness Need Not Have Actual Personal Knowledge of Documents Presented in Mortgage Foreclosure Action
- Appellate Division Vacates Default Based on Defendants' Allegations of Violations of Consumer Fraud and Fair Foreclosure Acts
- Sherman Wells Partner Craig L. Steinfeld to Moderate and Speak at "Hot Topics in Banking Law" Seminar
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Banking Alert February 201702/2017
In This Issue:
- Appellate Division Affirms Denial of Contempt Motion
- Federal Court Dismisses Challenge To Foreclosure Judgment
- Appellate Division Upholds Sale Of Property By Receiver
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Banking Alert January 201701/2017
In This Issue:
- Third Circuit Upholds Dismissal of CFA and RICO Action Against Loan Servicer
- Appellate Division Rejects Challenge to Lender’s Standing in Foreclosure Action
- District Court Affirms Ruling That Statute of Limitations in Foreclosure Action Was Not Shortened by Acceleration Notice
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Tax and Trusts & Estates Update January 201701/2017
In This Issue:
- Gift Tax Reporting Reminder for Gifts Made in 2016
- Estates of New Jersey Residents Who Do Not Survive Until 2018 Could Confront Costly and Unnecessary New Jersey Estate Taxes
- …And New York Residents Should Similarly Review their Estate Planning Documents Given the Moving Target of the “Cliff” Past Which New York Estate Tax Will Apply
- The Nonprofit Forum - Warning: Even Donations to Your Private Foundation Need a Written Acknowledgment
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Tax and Trusts & Estates Update December 201612/2016
In This Issue:
- The Election and Your Tax Planning – Stay Tuned
- If You Want To Make Gifts to Charities or Others in 2016, Be Sure Those Gifts Are “Completed” This Year For Tax Purposes
- 2017 Inflation Adjustments for Tax Items
- The Nonprofit Forum