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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The Need for NDAs in Business
While much maligned in election season and scorned as part of C-suite settlements coming from the recent Me Too movement, Mutual Non-Disclosure and Confidentiality Agreements – more commonly referred to as NDAs – remain an integral part of business relationships. Their purposes are far less nefarious, providing vital protection of the products and processes at …
Estate Planning during the Pandemic
The pandemic has been difficult for all of us, and we are all eager for life to return to normal. For many of us, this public health crisis has affected our lives and businesses in ways we never would have thought possible only six or seven months ago. Estate Planning attorneys (lawyers who draft Wills, …
The Two Estate Planning Documents Everyone Needs
Estate planning, if you really boil it down, is simply the process of determining, in advance, “what should happen” if a person is no longer able to make decisions for themselves. The reason for not being able to make decisions could be due to either death or incapacity. In both circumstances, estate planning puts a …
Considerations in Remote Work Policies
Businesses have shifted from remote work as a necessity to considering remote work as a business choice. In hopes of aiding the ongoing conversation, here are some things to consider when evaluating or developing a remote work policy. Productivity and Accountability. How do you measure productivity, and does it reflect value to your company? What …
Minnesota’s Evolving Landlord Tenant Law in Pandemic Times
It goes without saying that the pandemic has changed virtually all aspects of life over the past year and a half. Lawmakers have struggled to balance public health and economic policies throughout the country. Businesses have also been forced to weigh decisions related to protecting workers and the public, while also trying to keep the …
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