If you apply the || and && forms, preferably than the | and & forms of these operators, Java will not worry to evaluate the right-hand operand alone.
It's a subject of if you want to short-circuit the evaluation or not -- most of the time you require to.
A good way to explain the benefits of short-circuiting would be to consider the subsequent example.
Boolean b = true;
if(b || foo.timeConsumingCall())
//we entered without calling timeConsumingCall()
Another benefit, for short-circuiting is the null reference try:
if(string != null && string.isEmpty())
//we check for string being null before calling isEmpty()