It may seem oxymoronic – spending money to save money. However, when it comes to estate planning, you can’t be too careful. After all, your estate plans may affect the lives of your loved ones for...
Corporate Formalities: Boring but Necessary
In December of 2018, the Supreme Court of the State of Ohio decided an important case involving following corporate formalities. At the center of controversy in this case was the control of an O...
Transferring Business Interests to a Trust: Is it Always a Good Idea?
Trusts are common, powerful estate planning tools. People can transfer various kinds of assets to various types of trusts for a number of reasons. Business owners, however, may stop short when thinkin...
3 Facts Every Minnesota Business Owner Should Know
Most business owners go into business with their eyes wide open. They know at least some of the risks and benefits. You know you need a business structure and that, at some point, your business will o...
Real Estate: What Role Does It Play in Your Estate Plan?
For many people, real estate may be their largest asset. Real estate holdings, whether commercial or residential, tend to be high ticket items with lasting value. Doesn’t is make sense, then, that y...
Setting Up an Offshore Asset Protection Trust
Shannon L., a medical doctor practicing in Minnesota, has made some tough decisions in her life. Working in a high-risk profession, she is concerned about protecting her assets from civil judgments. S...
Do You Need a Dynasty Trust?
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. ...