Minnesota’s Revised Uniform Limited Liability Company Act (“new LLC Act”) act will take effect this Saturday, August 1, 2015. Any limited liability companies (LLCs) that are newly organized in Minnesota after that date will be subject to the new LLC Act under Chapter 322C of the Minnesota Statutes. Any LLCs that were formed prior to […]
We’ve all heard jokes about taking a loan from the Bank of Mom and Dad. What you might not know is that intra-family loans can be a great way to transfer significant wealth and avoid gift (or estate) tax liability. While an intra-family loan requires some upfront structuring and down-the-road diligence, the benefits are real. […]
In a previous post, I discussed the importance of having a life insurance policy analysis done on a regular basis. I was recently reminded of the importance of policy reviews when I received correspondence from a life insurance carrier whose policy expenses exceeded what was necessary to support the death benefit. Though the mistake was […]
Are improvements to healthcare directives necessary and possible? The answer is an emphatic YES! As a trusted advisor, you can blaze the trail for your clients. In the past three decades, a relatively low percent of adults have completed a healthcare directive. So what shortcomings are impeding the national acceptance of advance care planning? 10 […]