– Legal Insights –
If you are expecting an inheritance, an estate planning tool known as a trust may prove useful, depending on your circumstances. Among the numerous types of trusts aimed at fulfilling different estate planning purposes, an inheritor’s trust is specially designed to help protect an inheritance. Purpose of an Inheritor’s Trust...
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Americans have enjoyed historically high estate tax exemption rates for most of the last twenty years. Such high exemption amounts have kept many of them from needing to seek out more advanced estate planning strategies to avoid estate taxes, which have been as high as 60 percent during those same...
How to do a trademark clearance search Suppose you are brainstorming company names or brands for your goods or services and have a list of potential candidates. One way to help narrow this list of proposed marks is to investigate whether the proposed marks are legally protectable through federal registration...
In what area of law do you practice and why did you choose this? Estate Planning, Probate & Trust Administration, Real Estate, Landlord/Tenant, and legal counsel for small businesses. I have found these areas are relevant to most people’s every day lives. What did you want to be when you...
In the world of estate planning, you may come across the acronym HEMS from time to time. HEMS stands for “health, education, maintenance, or support” and is frequently included in trust agreements to guide a trustee on the types of distributions they may make to a trust beneficiary. When a...
The limited liability company (LLC) is a popular business structure that offers liability protection and avoidance of double taxation. Trusts are popular asset transfer vehicles that allow you to avoid probate and keep assets out of the hands of creditors. By placing LLC membership interests in a trust, business owners...
As COVID continues and another flu season looms on the distant fall horizon, the City of Bloomington has passed the new Earned Sick and Safe Leave Ordinance. Bloomington joins Minneapolis, Saint Paul, and Duluth as the fourth city requiring Sick and Safe Leave for employees. The new ordinance will go...
A nonfungible token (NFT) is a unique digital code that represents a digital item such as art or music, as well as a growing number of physical items, that runs on the blockchain (a secure, decentralized, and cryptography-backed online ledger) and provides proof of ownership of virtual collectibles. That explanation...
Whatever kind of business you are in, chances are you have some interaction with a state agency. Whether it is the Department of Labor and Industry, the Department of Human Services, or the Department of Health, there is somebody whose job it is to decide whether your business is doing...
Every year on the Fourth of July, Americans across the country celebrate our nation’s declaration of independence from Great Britain. Yet only about one-third of Americans have an estate plan—meaning that most Americans have given up their independence when it comes to deciding what will happen to them should they...
Most homebuyers look for properties that only require minor touch ups, if anything. While move in ready properties are attractive to the masses, they are the exact opposite of a house flipper’s dream property. When the market is high, or cost prohibitive for a young first time homebuyer, flipping is...