Passing down your values and assets to future generations requires careful planning and consideration. It is not just about writing a will but crafting a legacy that benefits your loved ones for years to come. Here are two examples of multi-generational plans: Dynasty...
Estate Planning
How Soon Can Grandkids Be Next in Line for Business Succession?
When it comes to operating family-owned businesses, planning for succession can help to ensure continuity, growth and stability. In Minnesota, where family businesses contribute significantly to the local economy, a major concern may be how soon grandchildren can take...
Utilizing powers of attorney in your estate plan
When making an estate plan, there are many different documents to consider. It goes far beyond just writing a will to pass your assets on to your children. A comprehensive plan is important so that things go smoothly for your family, even before your death should you...
Should You Convert Your Sole Proprietorship to an LLC?
Successful entrepreneurs need more than luck—or a good idea—to succeed in business; they also need a plan. Part of that plan involves choosing a business structure. When you are first starting a business, operating it as a sole proprietorship may make a lot of sense....
Understanding The Duties And Responsibilities Of A Trustee
Overview What is a trust? How does a living trust work? Who are the people involved with a living trust? What do I need to know now? What responsibilities will I have as a trustee? Do I have to do all of this myself? How will I know if the grantor is incapacitated?...