MN Revised Uniform Limited Liability Company Act


July 30, 2015
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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 […]

Cabin LLCs: The Basics


September 25, 2014
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For many, cabins provide an opportunity to get away from it all, to spend time with family and friends (maybe beside a body of water) and decompress from daily life. Unfortunately, cabins can also cause frustration and confusion as to how families (immediate and extended) will share it and how the cabin can be passed […]

Basics of Business Formation


June 11, 2014
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Many Minnesota entrepreneurs are well aware that they need to take steps to limit their potential for liability but are unclear about which type of entity is right for them. This post will outline some of the advantages and disadvantages of entity types and some initial first steps in setting one up. This is intended […]

An Overview of Asset Protection


July 15, 2011
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People often associate estate planning only with directing the distribution of a decedent’s assets; however, estate planning is much broader and it can provide substantial utility to a person while he/she is still alive through a field of practice called asset protection. Asset protection is the process of structuring the ownership of assets to minimize […]

Limited Liability Company In Estate Planning


April 30, 2011
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A limited liability company can be used as an effective wealth management tool for certain estates. A limited liability company (“LLC”) is a corporate entity and under Minnesota law, it can be formed for “any lawful purpose or purposes…”[1] An LLC can be useful to reduce an estate’s exposure to taxes at death, help ensure […]

Deeds & Probate


April 19, 2011
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In past articles we have covered the pros and cons of avoiding probate.  As a brief refresher, probate is not always a terrible process but in some cases, it can be long, complicated, and expensive. If you want to avoid probate, you need to title your property in a way that it will be transferred […]