Respond to Rising Land Values
The value of farmland has increased significantly over the last couple of years across Minnesota and the rest of the upper Midwest. This increase in the value has a significant impact on farm succession plans and should be taken into consideration when these plans are evaluated. With the increase in value, it is becoming more […]
Ins and Outs of Minnesota Corporate Farm Law
Many farm families choose to use business entities for their farmland and farm operations. They may do this for liability protection and succession planning. When using entities, it is important to follow the Minnesota corporate farm laws found in Minnesota Statute Section 500.24. Generally, the statute prohibits operating a farm or owning farmland in a […]
Financial Power of Attorney Integral Part of Estate Plan
Financial powers of attorney are an important estate plan document and recommended for almost all estate plans, but there are some limitations with these documents. From my conversations with clients and their families, the following are some of the limitations that I find are good to know about ahead of time. Generally, a person, called […]
Health Care Directives: One More Thing to Have In Order
A health care directive is a core document for an estate plan. My recommendation is if a person is over age 18 and has capacity, they should consider making a health care directive to appoint someone to make health decisions for them, and to give instructions on how they want medical decisions to be made […]
Options to Protect Your Assets
Protecting assets from liabilities and risks is a common concern for most of my clients. Lately, I have been having a number of conversations with people regarding how to protect assets. The risks causing concern often include lawsuits, divorce, bankruptcy and casualty losses. For each of these risks, there are options to protect assets for […]
SEMINAR: Estate Plans That Work
This workshop will serve as an introduction to various techniques and tools used in creating an effective Estate Plan such as Revocable Living Trusts, Wills, Powers of Attorney, and Health Care Directives. This workshop will cover: “The Basics of All Estate Plans” Explains: Revocable Living Trusts, Wills, Powers of Attorney, Health Care Directives, and HIPAAs Why […]