NEWS & INSIGHTS
Does Your Business Qualify as Small? The Answer Just Got More Complicated
LexBlog recently published the article (below) "Does Your Business Qualify as Small? The Answer Just Got More Complicated" as a result of the Small Business Runway Extension Act, federal legislation that was signed into law at the end of 2018. Click on the following...
Planning for Your Pet After You’re Gone
Do You Treat Your Pet Like Family? While you may treat your pet like family, the law doesn’t. Many people don’t realize that if not specifically accounted for in an estate plan, a pet will be treated as any other personal property. The repercussions can range from...
2019 Tax Reference Guide
Duties of the Health Care Agent
In general, the duties of a health care agent under a Health Care Directive made pursuant to Minnesota Statutes Chapter 145C are to make health care decisions for the principal when the principal, in the determination of the attending physician, lacks decision-making...
Duties of An Attorney-In-Fact
DUTIES OF AN ATTORNEY-IN-FACT (the person to whom a power of attorney is granted) In general, when someone (the principal) executes a power of attorney they grant the attorney-in-fact (the person to whom the power of attorney is granted) potentially broad powers to...
Duties and Powers of the Trustee
In general, a trustee’s duties are to administer the trust; specifically to hold, administer and distribute the assets of the trust estate in accordance with the trust agreement and applicable law. Various statutory provisions, portions of which are set forth below,...
Duties of the Personal Representative of The Estate
In general, a personal representative’s duties are to probate the decedent’s will; specifically to inventory and determine the value of the assets of the decedent’s estate, take possession of those assets, determine the liabilities of the estate and make arrangements...
The Death of a Company: Dissolution or Administrative Termination?
A company’s existence begins when its Articles of Organization or Incorporation are filed with the Secretary of State. Intentionally or not, the life span of that company will vary. Companies cease business operations for a variety of reasons. Maybe there was a sale...
Cabin Pressure
If you have a cabin, it is likely that you’ve planned family weekends throughout this summer and are about now closing the cabin for the season. But have you put thought into how your cabin fits into your estate plan? If you have any thoughts about passing the cabin...
Preparing Your Business for Sale: The Importance of Being Ready with High Quality Financial Statements
A recession is coming. Not to be an alarmist, but history has proved that there is always a recession on the horizon. And considering that we’ve been riding a wave of prosperity for longer than the historical norm, a recession is likely to be coming sooner than later....