– 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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Decanting Introduction. Decanting is a concept derived from its traditional meaning of pouring a liquid from one container to another. For trusts, the statute introduces a new concept that will allow trust assets to be transferred from one trust to another. Technically it is referred to as the exercise of...
Claims Process 101 Property owners that make their first insurance claim often feel overwhelmed by the process. This article is the first in a series which is intended to give an overview of the process. In my first installment, I will summarize important obligations property owners hold during the claims...
As of January 1, 2016 Minnesota’s version of the Uniform Trust Code becomes effective bringing with it significant changes to the drafting and administration of trusts in Minnesota. Before discussing these changes, we should discuss what constitutes a trust. A trust is an agreement between the maker of the trust,...
By Earl H. Cohen In planning our estates most of us have been focused on minimizing taxes, probate, and making certain that our assets pass to our intended beneficiaries. The assets we tend to be concerned about generally fall into the categories of real estate, cash and securities accounts, tangible...
The ADA prohibits an employer from requesting a medical examination simply because of a known disability. A medical examination is a procedure or test that seeks information about an individual’s physical or mental impairments or health. A fitness for duty evaluation generally will be considered a medical examination subject to...
The adoption of the Uniform Trust Code (UTC) in Minnesota results in broad changes and modernization to Minnesota law. The changes give practitioners more clear and concise guidance on Trust issues and management. However, not all aspects of the trust law have been changed. Where the new Code is silent,...
After 26 years, Minnesota’s Trust Law has been upgraded to recognize dramatic changes which have occurred in trust administration. Minnesota’s updates, initially drafted by the MSBA Probate and Trust Section and based on the Uniform Law published by the Uniform Law Commission, was signed by Governor Dayton in March 2015,...
An incredible number of businesses have been sued in Minnesota under the Americans with Disabilities Act (“ADA”). One individual has filed multiple lawsuits that look nearly identical. It is not easy to prevent lawsuits like these. Here are tips for avoiding liability under the ADA no matter what type of...
Insurance companies often deny a claim based on an argument that their policies do not cover “cosmetic damage”. Recent developments in Wisconsin law make it tougher for insurance companies to make that argument. Property owners should know the law on “cosmetic” damage when making an insurance claim. A property owner...
Corporate accounting scandals involving large public corporations periodically shock the nation. As a result of these scandals, citizens have questioned the roles of corporate board members, officers, and directors. While most of the concerns have focused on large national publicly-traded corporations, the reverberations go much further. They even extend to...