– 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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Recently, I have fielded questions about association operations, including several about what members of a Board of Directors are entitled to—and what they are not entitled to. It became apparent that, on a broader scope, there may be some myths and misconceptions to dispel about voting and use of proxies,...
“Physician, heal thyself,” is a maxim as old as the bible. Although we are not doctors, self-healing is also expected in the legal profession. After all, we are typically fantastic when it comes to solving our client’s problems, as well as serving as a combination psychologist and trusted advisor. The...
In my previous career as a real estate broker, I used to advise clients there are three legs to a multifamily property valuation stool: Physical – the physical structure and mechanicals. Financial – the income and expenses. People – as financial assets or liabilities. This article addresses the third stool,...
Liability waivers are common in many contracts between businesses and the general public. Whether the contract covers in-home daycare or bungee jumping, it likely includes language intended to function as a release or a liability waiver that the business owners hope will act as a shield in the event of...
The Financial Conduct Authority (“FCA”) in the UK has announced that it will no longer require banks to submit London Interbank Offered Rate (“LIBOR”) quotes after 2021. This change requires careful review and action for lenders, borrowers and investors. LIBOR’s significance in the industry is demonstrated by its prevalence –...
People who make a disability claim in the U.S. will have stronger protections when a new rule goes into effect April 1, 2018. Late last year, the Department of Labor released a final rule to strengthen the claims and appeals requirements for plans that provide disability benefits. A big reason...
A Minnesota federal judge recently issued an order that has big potential implications for Minnesota homeowners who had part of their claim denied by a matching exclusion. Specifically, customers of American Family should be aware of this order, especially those covered by a Gold Star Policy. The Order was issued...
Super Bowl LII hosted in Minnesota will impact just about every area of our economy, including real estate. In a prior article, I discussed issues surrounding short-term rental of homes to accommodate the influx of members of the media, spectators, team members and staff to the Twin Cities. As kickoff...
While 2017 has brought great fortune and growth in the real estate market, the year has unfortunately also seen several management companies’ theft/embezzlement from their association clients. To be clear, these incidents were isolated. By far, most management companies take the manager’s fiduciary role very seriously, and have multiple checks...
If you are a landlord of residential rental property in the state of Minnesota, you may be subject to a rent escrow action to remedy alleged “violation(s)” at your property. What is a rent escrow action? A rent escrow action is a Minnesota statutory provision that permits a residential tenant...