– 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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I have lost track of how many times I have been told by the president of an association, “We haven’t had to raise dues in five years.” It’s usually said with great pride. And then I burst her bubble. Managing expenses is of course a primary objective for association boards,...
I recently had a conversation with an insurance agent who acknowledged he “didn’t deal much with homeowners associations.” His client lived in an association, and had suffered damage within his townhome that the agent thought should be covered under the association’s master insurance policy. He believed that, if a declaration...
If the nights are getting chillier, the leaves are beginning to change color, and kids have gone back to school, what season is it? Fall? Nope. It’s budget season! Since most associations’ fiscal year coincides with the calendar year, many associations are in the throes of planning and budgeting for...
A Transfer on Death Deed (TODD) is a Minnesota real estate document that transfers property upon death. Similar to a named beneficiary on a life insurance policy, upon the death of an individual, a TODD will automatically transfer real estate to a beneficiary without having to go through probate. Sounds...
Trademarks are one of the most overlooked assets of any organization. A trademark is the way that customers remember and find your business, yet many owners do not take an easy step available to protect that important resource. Under US law, a company or individual has the right to a...
It’s that time of year — cabin fever! Everyone loves to escape to the lake on the weekends. What’s not to love? Family, friends, and good memories being made. However, what happens when the owner passes? The fun and memories do not need to end. Make your family cabin a...
Every so often, I have a conversation with a homeowner that starts out something like this: Owner: I got this letter that says I’ve been fined. Attorney: That’s correct. You violated the leasing restrictions in the Declaration. Owner: Oh yeah? Well, I never signed up to be in this association....
Writing Community Association rules and regulations can seem like a daunting task. Here is a list of 10 Do’s and Don’ts to help you when drafting your community association rules: Make the rules logical and reasonable. Make the rules illogical and unreasonable. Make the rules sensible, just and fair. Make...
As we reflect on the successes of 2018 and anticipate those of 2019, it’s worthwhile to consider how successful businesses are built and how they thrive. Successful businesses and successful business professionals highlight the importance of leadership, entrepreneurial vision, and creativity. “Success”— however defined—is the goal of every professional and...
On This Episode: Trump Report Card for 4th Quarter 2018 Moore About the World: Wherever geopolitics and business strategy crash into history, most of this has happened before. Adding his unique brand of wit and wisdom to his problem-fixing experience as a veteran lawyer, Terry Moore mines the past...