Until now, there has been no way to accomplish this. The New Jersey Standby Guardianship Act, enacted earlier this year, fills this void. If the parent later becomes unable to care for the child or children, the standby guardian shares parental authority with the parent. This process permits the parent to plan for a smooth transition in this extremely important area. The determination of whether a worker is classified as an independent contractor or an employee of a business is often difficult.
Current law requires the analysis of a multiplicity of factors.
The Independent Contractor Tax Simplification Act, pending in the House, would streamline the rules. Milton and David Mitzner co-owned a retail lighting business. The brothers had a falling out that resulted in a family lawsuit. The settlement agreement made no mention of the life insurance policies. After the sale was completed David, who had become seriously ill, sought ownership of the policy on his life.