It is tempting. The possibility of leaving your mark for generations to come has a certain appeal. Estate planning strategies like dynasty trusts can let you do just that. However, do you need a dynas...
Tax Credits and the Family Farm
It’s no secret that farming is a difficult profession. Farms operate at the mercy of the markets and Mother Nature. Getting a little relief from taxes can go a long way for farmers who find it diffi...
7 Reasons to Create Your Estate Plan
Norman thought estate planning was unnecessary. After all, his family and friends knew what he wanted. He trusted them to carry out his wishes after he was gone. Norman did not realize how his failure...
Filing Your Company’s Minnesota Annual Renewal
The Minnesota Widget Company was ready to close its 2017 books early. Too early. They had forgotten to file their Minnesota annual renewal form. Fortunately, they found instructions and forms online. ...
Digital Estate Planning: What Your Executor Needs to Know
Sometimes there’s more to a person than meets the eye. This seems especially true during our increasingly digital age. For example, a man named Adam S. passed away unexpectedly. He left behind a wif...
What Does a Trust Administrator Do?
Trusts are not empty vessels. They contain trust assets and those assets won’t manage themselves. A trust administrator may be needed to keep a trust humming along. As you explore the possibility of...
What Does a Trust Protector Do?
A trust protector is an independent person or institution with authority over certain aspects of a trust. The main role is making sure the wishes of the person who established the trust (the settlor o...
Asset Protection Strategies
You’ve worked hard for your assets. Why not try to protect them? Some people may need to use asset protection strategies because they work in a high-risk profession. Others may want to protect asset...
Should I Form an S Corporation or a C Corporation?
It all starts with an idea. The idea grows into a plan, then a business. Somewhere along the way, the budding business owner picks a business entity. It may all come down to whether he or she should f...
Should You Sell Your Family Business?
Smith & Sons, Inc., had been in business for several generations. The current CEO, Henry S., had concerns about the company’s viability. Henry weighed his options carefully. One possible solutio...