What You Need to Know When Buying Life Insurance

The Simple Dollar / September 15, 2016
avatar

There are two basic types of life insurance: term and permanent. The fundamental difference is right there in the name: Term life insurance is only in force during a set period or “term,” while permanent life insurance is yours for your entire life. So why doesn’t everyone just get permanent? Because it’s much more expensive […]

Eight Tips To Keep Your Small Business Safe From Fraud

Jessica Kane / September 7, 2016
avatar

According to a report by the Association of Certified Fraud Examiners, which is the largest global anti-fraud agency, small businesses constitute 31.8 percent of all fraud-related cases reported per year. This is a significantly higher percentage than for larger businesses. The losses for a small business are also amplified due to their relative size and […]

Estate Planning: Planning for the Physical Care of Children in Minnesota

Michael Divine / August 16, 2016
avatar

This article discusses some of the legal documents that can assist in planning for the physical care of a minor child in the event of a parent’s death or incapacity. Minnesota law provides that a parent may appoint a guardian over a minor child by will, designation of standby guardian, or certain other signed writings […]

The New Department of Labor Fiduciary Rule: What you should know

Phillip Christenson / August 11, 2016
avatar

Are you a Fiduciary? This is the one question you should be asking whoever is offering you financial advice on any sort of investment product. So, what exactly is a Fiduciary and why is it so important? It’s simple, a Fiduciary is legally obligated to serve their client’s best interest. Most people are shocked to […]

Millennials vs. Baby-Boomers: Selling an Outdated House in Today’s Real Estate Market

Eric Hopf / August 4, 2016
avatar

The Problem There is a great divide in the current real estate market caused by the large percentage of homes being sold by baby-boomers and older generations or their heirs. Many of these homes are outdated and unappealing to Millennials and Gen Xers, who comprise 61% of all buyers and more than 80% of first-time […]

SECTION 179 – WHAT IS IT AND WHAT IS NEW FOR 2016

Erik Doerr / July 18, 2016
avatar

Recently we have been meeting with many of our clients to discuss operational results for the first half of the year. Generally speaking, business is up from last year for my clients. As a result, people are starting to think about the higher tax bill they are likely to encounter. With higher tax bills looming […]

Please: get the correct acknowledgement if you want to deduct that property contribution

Robert Lynn / June 30, 2016
avatar

“Close” counts with horseshoes and hand grenades. Unfortunately, it doesn’t count for entitlement to deduct a charitable contribution, once the amount claimed exceeds a trigger point. When that happens, the taxpayer’s own records – no matter how convincing – won’t suffice. There has to be an acknowledgement from the charity itself that follows the law […]

PROBATE CODE UPDATES

Emma Maddy / June 20, 2016
avatar

Starting August 1, 2016, the amounts available under the Minnesota Probate Code (Minn. Stat. Ch. 524) for a number of issues will be adjusted for the first time in more than 25 years. These issues include the family allowance, collection of personal property by affidavit, and spousal intestate share with children from a previous relationship. […]

MN Animal Lovers – Rejoice!

Jennifer Santini / June 3, 2016
avatar

Until recently, Minnesota was one of the few remaining states that did not allow for a trust to be created for the benefit of animal. However, this past legislative session H.F. No. 1372 was signed into law by Governor Dayton, which includes the statute to allow for the creation of a “pet trust.” Under Minn. […]

Prince Leaves a Complex, Unplanned Estate

Manish Bhatia / May 4, 2016
avatar

Unfortunately, too many recent newsletters have focused on the death of musical legends. This month left us with another untimely death. Prince, whose legal name was Prince Rogers Nelson, died on April 21st at his Paisley Park recording studio and home in Chanhassen, Minnesota. As unbelievable as it may seem, according to his sister, Tyka […]

Life Insurance for Family Business Owners

Bob Cohen / April 5, 2016
avatar

Owners of family businesses often find themselves in a dilemma over how to treat their adult children fairly when one or more is interested and capable of taking over the business and the other adult children are not.  Certainly, the owners are not about to turn over their life’s work to anyone (their closest kin […]

Page 3 of 4912345...102030...Last »