Elliot Gorman
BIPS – Business Insurance Planning Services, Inc.
150 River Road, Unit A-A2
Montville, NJ 07045

(973) 335-3816
Elliot@businessinsuranceplanning.com

Elliot owns his own firm and is a second-generation insurance agent.  Insurance is in his blood.  Elliot sells all forms of insurance.  He proactively works with his clients to obtain the insurance that they need.

Call Elliot to have all of your questions about insurance answered.  Today, during our LeTip meeting, Elliot spoke about these common insurance issues..

• The ramifications of purchasing only the State minimum liability limits on a personal auto policy.
• Purchasing an Umbrella policy and whether or not it makes you a target for lawyers.
• Is it smart to shop for a new quote mid-term?
• Price factors – credit score, trampolines, dogs
• The benefit of combining home and auto policies with the same carrier.
• Covering homes with oil tanks.

Some of the insurance that Elliot handles includes

• Homeowner insurance
• Auto Insurance
• Liability insurance
• Workers compensation
• Property
• Earthquake insurance
• Personal umbrella policies that provide additional asset protection
• Employment Practices Liability Insurance

Remember purchasing insurance is in the top four most confusing categories that we purchase along with buying a computer, a vacation, or cough/cold medicine.

Call Elliot for all of your insurance needs.  Moreover, consider making an appointment to meet with Elliot to review the policies you have and make sure you are adequately covered to meet your own personal risk tolerance needs.

On a personal note, Elliot is my insurance agent.  He cares about the insurance I have and provides the personal attention to ensure I’m adequately covered.   Give him a call.

Dotty Butler
Assistant Vice President
Branch Manager
Investors Bank
Livingston Plaza Branch
493 S Livingston Ave
Livingston, NJ 07039

(973) 992-5550
dbutler@myinvestorsbank.com

Website: www.myinvestorsbank.com

During our meeting today, Dotty Butler of Investors Bank was our speaker.  Dotty shared with us the commitment that Investors Bank is making to the New Jersey community and how much she enjoys working for a company that truly cares about the community.

Some of the activities that Investors Bank is involved in include:

• Partners for Parks
• St John Pantry
• Arc of Essex County Home Assistance Program
• American Heart Association
• March of Dimes Walk
• Holiday Food and Toy Drives
• Financial Literacy program
• National Night Out
• Back to School Program w/NCJW
• NJ Food Bank
• Arts Council of the Morris Area

Dotty shared with us that Investors Bank’s -

Vision

To become the largest community bank headquartered in New Jersey by providing world class customer service and tailored financial solutions to meet the needs of our customers.

Mission

Investors Bank strives to provide high quality products and services in an honored and straight forward manner while operating responsibly and ethically so that our clients, employees, stockholders, and communities may prosper.

The foundation of Investors Bank’s mission is built on the following core values: Cooperation, Character, Community, & Commitment.

Dave Taormina
Home Mortgage Consultant
M6018-011
NMLSR ID: 215662

Wells Fargo Home Mortgage
87 Berdan Ave
Wayne, NJ  07470

Tel (973) 686-3209 | Cell (973) 632-0370 | Fax (866) 587-6981

David.Taormina@wellsfargo.com

www.wfhm.com/david-taormina

During the last couple of months, Dave shared with us some improvements he has observed in the northern New Jersey housing market.

He has noticed an increase in the number of mortgages that are being written.  Many of these mortgages are being written for close to their asking prices.  This is a good sign that,  “the housing market in northern New Jersey has bottomed out and is improving”.

Also, Dave shared with us some good news on home refinancing.   HARP 2.0 is making it much easier to refinance if you owe more than your home is worth.

Contact Dave if you need a mortgage or are interested in refinancing.

By the way, Dave attends everyone of his closing to ensure everything goes well for his clients.

ITEMS NEEDED AT LOAN APPLICATION

1. 30 Days full paycheck stubs (YTD)
2. Last 2 years W-2′s
3. Last 2 months bank statements on all accounts, all pages
4. Copy of all Bankruptcy Discharge papers and list of creditors (if applicable)
5. Copy of Settlement Statement for sale of home (if applicable)
6. Copy of signed Real Estate Contract (if purchase transaction)
7. If self-employed, need 2 years of personal and business returns

ITEMS NEEDED AT REFINANCE

1. Copy of Title work
2. Copy of old Survey
3. Copy of Mortgage/Deed for Trust
4. Copy of Statement from purchase
5. Insurance company name, phone number and policy#

Adrienne L. Davis, Esq.
Attorney at Law
155 Prospect Avenue
West Orange, NJ  07052

Office: (973) 243-7966
Cell: (862) 252-4285
E-mail: Adrienne@aldlegal.com

LinkedIn

Real Estate Attorney

Adrienne focuses on residential real estate closings, including purchases, sales and refinances in Northern New Jersey.

When you work with Adrienne you receive her personal undivided attention.   She is known for her flexibility and creativity.

Adrienne received her law degree from George Washington University Law School.  Moreover, she has been admitted to both the New York and New Jersey Bar Associations.

Richard S. Beam CPA, P.C.
Accounting & Financial Services
15 Bloomfield Ave
Verona, New Jersey 07044

(973) 239 5140
rbeam@beamcpa.com

Think of Rick Beam CPA as your accountant, or better yet, as your very own CFO – Chief Financial Officer.  When Rick Beam CPA is your accountant, he is your trusted business advisor. Remember, Rick is always just a phone call away.

His firm is a full service CPA firm.  He ensures that you and your company stay in compliance with all State and Federal regulations (e.g. sales taxes).  Rick’s firm core competence is working with the small business community helping owners navigate the complex world of financial reporting and tax compliance.

Rick shared with us that the number one rule in his office is, “We are here to help people.”

Rick helps business owners make sound business decisions.  His advice is built upon complete and accurate books.  These are the foundation for financial planning and tax planning to achieve financial independence.  “Our goal is for our clients to flourish and prosper.”

A good tip for Rick are small companies, start ups, and not-for-profits who want to improve their accounting support.

[On a personal note, Rick Beam is my accountant and he is a trusted business adviser.  I wholeheartedly recommend his accounting firm]

Elliot Gorman
BIPS – Business Insurance Planning Services, Inc.
150 River Road, Unit A-A2
Montville, NJ 07045

(973) 335-3816
Elliot@businessinsuranceplanning.com

Elliot owns his own firm and is a second-generation insurance agent.  Insurance is in his blood.  Elliot sells all forms of insurance.  He proactively works with his clients to obtain the insurance that they need.

He will be your agent and help you navigate the confusing world of Home, Auto, and Business Insurance.

Some of the insurance that Elliot handles includes

• Homeowner insurance
• Auto Insurance
• Liability insurance
• Workers compensation
• Property
• Earthquake insurance
• Personal umbrella policies that provide additional asset protection
• Employment Practices Liability Insurance

Remember purchasing insurance is in the top four most confusing categories that we purchase along with buying a computer, a vacation, or cough/cold medicine.

Call Elliot for all of your insurance needs.  Moreover, consider making an appointment to meet with Elliot to review the policies you have and make sure you are adequately covered to meet your own personal risk tolerance needs.

On a personal note, Elliot is my insurance agent.  He cares about the insurance I have and provides the personal attention to ensure I’m adequately covered.   Give him a call.

Susan (Sue) McSwain
Sales Representative
Weichert Realtors
1625 Route 10 East
Morris Plains, NJ 07950

Office 973 984 1400
Cell 908 400 1440

smcswain@weichert.com

www.suemcswain.com

To be a great realtor you need three characteristics

• Perseverance
• No fear of rejection
• About to banter and bond with people

Sue has these characteristics in Spades!  If you want to buy or sell a home in the Morris County area, you should call Sue McSwain.  She’s the best!

Casey L. Carhart
Attorney at Law
Mandelbaum, Salsburg, Lazris & Discenza
155 Prospect Ave
West Orange, NJ  07052

Phone (973) 243-7942

Email:  ccarhart@msgld.com

Casey Carhart regaled us this morning with a game she created called Law Firm Bingo. The purpose of the game was not only to have a lot of fun, but also to help her fellow Parsippany LeTip members learn about all of the ways her law firm could help people.

Casey is a dynamic, competent, and well-respected lawyer who specializes in Corporate Law, Tax Law, and Estate Planning.

How to play

1. Use the Law Firm Bingo card (below)
2. When answering each of the 15 questions below,  “check-off” a square on your Bingo card.
3. The first person to to yell Bingo and have the correct 5 squares checked off is the winner!

[The answer key is at the bottom]

Here is a wonderful brochure, Working TOGETHER Going the Distance for You, that goes over all of the services that Casey’s law firm, Mandelbaum Salsburg, offers.

1. Tom and Angelo are looking to start a new business.  They have asked me to refer them to someone who will form a new LLC and prepare an operating agreement that will protect their interests? ANSWER____________________

2. They have decided that the name of their business will be Networking Runners, LLC; however, they are concerned that the name may already be in use and if its not they would like to prevent anyone else from using the name. ANSWER____________________

3. Sue recently decided to quit selling real estate and start developing real estate around some of the world’s most beautiful golf courses.  She is looking for advice on what steps she needs to take in order to legally acquire the land and the required permits.  ANSWER____________________

4. After speaking to her attorney and successfully building hundreds of condos, Sue realizes that she will need to organize a homeowners’ association prior to listing the properties.  Sue is looking for some help and has no idea where to begin.  ANSWER____________________

5. Anh recently took Michael out to lunch to thank him again for building such a beautiful kitchen.  During lunch, Michael told Anh about one of his clients who is refusing to pay his bill despite the fact that she signed his contract.  Without hesitation Anh recommends that he speak to which department? ANSWER____________________

6. After lunch, Anh called Elliot to break the news that she would soon be relocating the Georgia. Elliot quickly cautioned Anh to update her estate planning documents because Georgia law is quite different than NJ law.  ANSWER____________________

7. Last month Luis went to his semi-annual check up with Dr. Derek. Dr. D couldn’t wait to tell Luis all about the new partner he had brought into the practice.  Luis, being ever the good tipper, made sure to remind Dr. D to give Casey a call to make sure that the practice was properly protected and in compliance with all state dentistry laws.  ANSWER____________________

8. PJ’s co-worker at Volvo recently confided in him that she had secretly been dating the CEO of Volvo, Stefan Jacoby, and they were now engaged.  PJ’s co-worker was very distraught over the fact that Mr. Jacoby asked her to sign a pre-nuptial agreement and she didn’t know what to do.  Fortunately, PJ knew exactly what to do.  ANSWER____________________

9. Not too long ago Dave and his wife, Mariella, decided to move out of their Lincoln Park home and move all the way to, Lincoln Park.  While they were thrilled about the house, they were not thrilled about the property taxes and felt that they were unnecessarily high.  Dave called Rick to ask him about this tax problem.  Rick, of course, said Casey can help you with that and went back to preparing a stack of 2011 income tax returns.  ANSWER____________________

10. A few minutes later Rick’s 12:30 client walked through the door.  Right away Rick knew something was wrong and noticed that his client’s eye was black and blue.  It didn’t take long for Rick to figure out that she was a victim of abuse.  The client explained that she was in the process of a divorce, but her husband had recently shown up at her home in a fit of rage.  In a comforting manner, Rick explained that she should get some help and called me.  A few minutes later I showed up at Rick’s office with a member of this department.  ANSWER____________________

11. Back in Boonton, Tom was preparing for his monthly dinner party and was eagerly anticipating Vincent’s arrival.  Unfortunately, Vinny got there a little late b/c he was stopped by a state trooper and issued a speeding ticket.  Vinny, who has a perfect driving record, was 100% certain that the ticket was issued in error and explained his frustrations to Tom over a wonderful dinner.  Tom advised Vinny that bringing an attorney with him to traffic court might be just the ticket to getting out of the unfair ticket. ANSWER____________________

12. On his drive home Vinny was sure to follow all of the traffic rules to a T.  When Andrew called him, Vinny was certain to use his hands free set.  Andrew explained to Vinny that he was leaving Paymedia and had a new job offer with Liberty Payroll Solutions. Vinny wished Andrew the best of luck and cautioned that he should probably have an attorney look over the new employment contract before he agreed to anything.  ANSWER____________________

13. Dotty recently had a visit from one of her oldest customers, a Holocaust survivor, who was looking to open a bank account for her new foundation.  After a little probing Dotty realized that the foundation was not actually formed yet and informed the customer that she would need to speak with an attorney to properly secure the foundation’s tax-exempt status. ANSWER____________________

14.  Tomorrow Dianne will be meeting with a new client to discuss a potential reverse mortgage for her parents.  The new client warned Dianne that her mother suffered from early stages of dementia and she did not have a power of attorney in place.  Dianne called me immediately to discuss the steps for obtaining a guardianship over an incapacitated adult.  ANSWER____________________

15.  Elliot’s favorite client, Baker Bob, called him this morning with some unfortunate news.  One of his employees filed a suit against Baker Bob for allegedly getting burned while taking a tray of Valentine’s Day cookies out of the oven.  Thanks to Elliot, Baker Bob had the proper workers’ compensation insurance in place.  However, Bob knew that the employee was lying and really got burned at home when he burned his Valentine’s Day dinner.  Elliot knew just who to call.  ANSWER____________________

Today’s Winners

Answer Key

Dave Taormina

Home Mortgage Consultant
NMLSR ID 215662

Wells Fargo Home Mortgage
87 Berdan Ave
Wayne, NJ  07470

MAC M6018-011

Tel (973) 686-3209
Cell (973) 632-0370
Fax (866) 587-6981

David.Taormina@wellsfargo.com

www.wfhm.com/david-taormina

Dave is a new employee of Wells Forgo and he shared with us some of the things he has learned about his new company.

• Wells Fargo was founded in 1852 and was responsible for starting the Pony Express.  From the Gold Rush to the early 20^th Century, Wells Fargo earned a reputation of trust by dealing rapidly and responsibly with people’s money and goods, offering both banking and express delivery.
• Through today, in prosperity, depression and war, even greater post-war prosperity, social changes, and ever faster communications technologies, Wells Fargo’s attention to customers’ business has seen it through and brought success.
• Biggest mortgage company in the USA,
• Wells Fargo has 25% of all home loans
• Each year they do some type of financial business with 1 out of 2 people in the USA
• Only 5% exposure to Europe

Wells Forgo is committed to the mortgage business.  One way that they exhibit this is by sponsoring home ownership working community to community

Wells Fargo is the cover story on a recent Fortune magazine saying Wells is the current mortgage company who has continually done the right thing  always focusing on the customer

Q&A

Question: Why Refinance?

Answer:  The first and most important reason to refinance your home mortgage is to save money.   Another reason is to put a process in place to pay off your mortgage quicker.

Other reasons to refinance include funds to help:

• Starting a business
• Paying for college
• Helping pay for parental care

By the way, Dave attends everyone of his closing to ensure everything goes well for his clients.

ITEMS NEEDED AT LOAN APPLICATION

1. 30 Days full paycheck stubs (YTD)
2. Last 2 years W-2′s
3. Last 2 months bank statements on all accounts, all pages
4. Copy of all Bankruptcy Discharge papers and list of creditors (if applicable)
5. Copy of Settlement Statement for sale of home (if applicable)
6. Copy of signed Real Estate Contract (if purchase transaction)
7. If self-employed, need 2 years of personal and business returns

REFINANCE

1. Copy of Title work
2. Copy of old Survey
3. Copy of Mortgage/Deed for Trust
4. Copy of Statement from purchase
5. Insurance company name, phone number and policy#