One item that many employers have begun to use extensively with employees is a non-compete agreement. The main goal of a non-compete agreement (“non-compete”) is for an employer to protect its goodwill, trade secrets and confidential information upon an employee leaving that employer and, presumably, working for a competitor of the employer. A non-compete could […]
More and more business owners are incorporating a charitable intent or purpose into their companies. However, many still wish to remain a for-profit business and therefore do not apply for non-profit or tax-exempt status. Recently, the Minnesota legislature and Governor Dayton passed into law the Minnesota Public Benefit Corporation Act, which allows a business to […]
On June 12, 2014, the U.S. Supreme Court ruled on a divisive bankruptcy and estate planning case. At issue was whether an individual retirement account (“IRA”) that a debtor inherited was exempt from the debtor’s bankruptcy estate under the Bankruptcy Code. The Bankruptcy Code permits a debtor to protect assets that are in a “retirement […]
Some of the small business clients I work with often want to hire an independent contractor versus bringing on a permanent employee. The use of independent contractors is very attractive to businesses because it can reduce the business’s exposure to employment-related lawsuits and reduce the business’s tax burden (i.e., no income tax withholding, Social Security […]
When we assist clients with drafting their estate plans, we try to draft a plan that will grow and evolve with them overtime. However, this does not mean that clients should stick their plans into a drawer and forget about them – never to review the plan again before they pass away. Instead, clients should […]
Earlier this year, the law making body in Belgium passed a law removing the age restriction on the country’s euthanasia law. Belgium has allowed euthanasia since 2002.
When drafting real estate deeds (even though the Minnesota Uniform Conveyancing Blanks forms look relatively simple) there are several statutory-specific rules that inevitably lead to the return of your deed with a “rejection letter” from the county recorder. Here are some of the common mistakes made when drafting real estate deeds: Marital Status Omitted You […]
If you are like me, you recently received a second tax refund from the State of Minnesota. Right before that, you also received a letter explaining that you were about to receive the refund and what it was for. If you are not up to speed with the latest Minnesota tax law, you may not […]
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 […]
During the four years or so that Epilawg has been in existence, there have been countless posts about the guiding principle behind the purpose of this blog: figuring out how to best write your own epilogue; planning the resolution to your own story. Over the years, various angles on Epilawg’s main topics have been presented; […]
I spent the Memorial Day weekend out of town for a wedding and was joking with some of the other guests that the bride (who is my stepsister) will most likely hire someone to assist her in changing her name upon her return from her honeymoon. I am one who opted to not change my […]