This question comes from a fellow financial advisor:
“I have a client that lives and has a business in Pennsylvania. 20 years ago, he bought a property in New Jersey with his wife. It was previously a gas station and required a fair amount of clean up. They invested in these necessary projects but claim that New Jersey never gave them a clean bill of health. The state continues to charge him annual penalties and fees for not doing environmental clean-up even though he has. He is disputing the claim.
How can he protect his personal property, business and assets in PA so the same thing doesn’t happen again? Can NJ “come after him” in PA? His lawyers say there’s nothing they can do to help. What is your advice?”
Gene answers your neighbors financial questions on More than Money. Send in your concerns: Gene@AskMtM.com