The most legally significant events in most people’s lives are getting married, getting divorced and dying. And yet, many people make little effort to understand the legal consequences of these events. However, a discussion about one key document addresses all of them. A prenuptial agreement. A prenuptial agreement, also known as a prenup or antenuptial …
Buyers of Commercial Property Benefit from Title Insurance and A Survey
Buyers of commercial property typically have a long list of tasks when evaluating a potential purchase: negotiating the purchase agreement, evaluating potential build-outs, and environmental testing, just to name a few. Two other items that should be on every buyer’s list are getting title insurance and a survey. In fact, if the buyer is financing …
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Protecting IP in the NFT Age
Whether you consider non-fungible tokens (NFTs) to be a fad, a functional method of sharing art and other creative works with a broad audience, or even a source of serious funds in a digital gold rush era, the prices for some NFTs over the last year places a heightened value on those items of intellectual …
Noncompete Agreements in the Great Resignation
The last two years have given many workers a chance to reassess their priorities, whether by the loss of a job, a layoff during quarantine periods, or just through moments of clarity in what has been a time of stress. The period now known as “The Great Resignation” has resulted from the pandemic era, and …
Mastering the Contractual Relationship
Contracts are everywhere in our modern business world. However, we may not always see them; or as in the latest 63-page scroll-through on that music service app, we may choose to outright ignore them. Nevertheless, terms and conditions float around us in the digital ether and now replace the handshake deals and gentlemen’s understandings that …
Should Your Business Have a Buy-Sell Agreement?
If you are like most private business owners of a closely held or family-owned business, the illiquid value of your business interest represents a substantial portion of your net worth. Do you know what would happen to this ownership interest if you were to die or otherwise depart the business? If you answered ‘no’ …
It’s (Almost) All Negotiable – the Dangers of a Form Mindset
Clients frequently ask me for “standard”, “normal” or” boilerplate” legal documents. This includes contracts, employee handbooks, non-competition agreements, and even legal pleadings. The truth is, very little is truly standard. Outside of a few narrow regulations, if a document needs to be drafted, it’s (almost) all negotiable. Even truly standard contracts, like the Minnesota Realtors …
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Should You Incorporate Lifetime Gifts Into Your Estate Planning?
With the holiday season upon us, the spirit of giving is in full force. Besides being a good way to celebrate this year’s festivities, gifting property can also be an important estate planning tool. There are many benefits to gifting property, such as reducing your taxable estate, transferring tax obligations to your children who may …
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