Estate Planning
A key competent of estate planning is considering the taxes a person will pay both during their life and after their death. A person’s assets are everything that a person owns, including anything that is paid out upon their death such as life insurance. When a person...
Business Law
Administrative dissolution is an action that the Minnesota Secretary of State takes when a Minnesota business does not take certain actions required by law. When a business is administratively dissolved, it ceases to exist in Minnesota. The most common scenario for an...
Property Law
Benefits and Pitfalls of Joint Tenancy with Right of Survivorship and Tenancy in Common in MN: Co-ownership of property is common but entering co-ownership without knowing some basic details of the different systems of property ownership can be costly. As of...
Estate Planning
Estate plans, even complex and versatile estate plans, commonly need to be updated throughout a person’s life. Most estate documents are static by nature, drafted to match specific desires, laws, and circumstances at one place and time. Because of that, there...
Property Law
Any time someone buys, sells, gifts, or otherwise transfers land, the title to that land changes. For that title change to be official, the change needs to be recorded in the county where the property is located. Because property records are public, recording...
Property Law
Typical Fees: $46 per document usually payable to county recorder. .0033 x sale price or $1.65 if sale was for less than $3000. If sale was for less than $3000, write “Total consideration less than $3000” on deed tax line. Sometimes needs a separate check...
Estate Planning
Wills and trusts have much in common; both are tools that help a person take care of their assets after they die. However, there are significant differences between the two that make one better than the other in different circumstances and for different people. A will...
Estate Planning
An estate plan is a strategy for dealing with assets when a person dies. In other words, an estate plan ensures that all their assets are distributed according to the “decedent’s” wishes and in the most tax effective manner as possible. Your “estate”...
Business Law
4 of the most common entity types for new businesses are sole proprietorships, partnerships, limited liability companies (LLCs), and S-Corporations (S-Corps). While all these entities work well in certain situations, knowing the benefits and drawbacks of each is...
