If you run a family business, you may be well aware of the dire failure rate. Even if you keep the company strong while it is under your control, the reality is that most family businesses fail as they move on to the second or third generation. It’s just too hard to sustain. The vast majority end up folding. This is an issue that impacts both your business decisions and your estate planning. You may want to pass that company More +
Many Minnesota residents achieve their dreams of starting their own businesses. This accomplishment is one that can follow them throughout their lives and even continue after their passing. As a result, it is important to remember the business when estate planning. Business owners need to include their business-related matters in various parts of their estate plans. For instance, it is likely that a business owner will want to distribute his or her business assets to loved ones or other beneficiaries, and creating More +
Entering the business world is a major step, especially if Minnesota residents want to start their own companies. A lot of information exists surrounding business formation, and many people may not know where to start. Often, individuals starting new businesses opt to create LLCs, or limited liability companies, but is that right for everyone? The short answer to that question is no. However, an LLC can offer a number of benefits, and many company owners find that this structure meets their needs. More +
The idea of having to assess their entire lives can make many Minnesota residents put off creating an estate plan. It may seem like too much work at the moment or something better left for another time. However, if estate planning is put off for too long, individuals may not have time to create their plans. Getting started sooner rather than later is ideal when it comes to estate planning. If parties do not know how to get started, they can begin by More +
You should have a professional look at the tax implications of any terms you include in or changes you make to your estate plan in Minnesota. The documents that support your plan probably deal with a variety of laws, from the municipal level up to the federal level. This diversity makes attention to detail important, especially when you are trying to minimize the tax burden on your estate. While there are many techniques and tools by which you can do More +
Business owners often want to ensure their organization is successful in creating value and bringing in profits. However, there may be some cases where a business does not achieve those goals for an extended period, which can push it into bankruptcy. While owners may hold some level of responsibility, there are several reasons why bankruptcy can occur. Causes of Chapter 11 These are a number of factors that may contribute: State of the market: If the overall economy or the business’s More +
