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 +
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 +
Estate plans are a crucial part of protecting the assets that one has worked so hard to acquire over the course of their lives, and those who have decided to create one should not ignore any aspect of the process. The amount of effort that one puts into reviewing all of their options and approaching the estate planning process could have a significant impact on their loved ones in the years ahead, and there are many facets of preparing properly. More +
Preparing for the death of a spouse is not just something that people should be thinking about if their husband or wife is dying, but it is a consideration that everyone should take. Couples who openly discuss what each other should do if they end up as the surviving spouse may be able to instill confidence and hope in each other before anything happens to one of them. As such, these prepared couples in Minnesota may be able to reduce More +
