The Minnesota legislature recently amended the TODD statutes to address issues regarding insurance coverage of real property subject to a TODD after the death of the grantor/owner. The amendment requires a TODD grantor/owner to perform certain actions to maintain...
As we are approaching the end of the year, we want to remind you of the requirement to file a Beneficial Ownership Information Report (BOIR) under the CTA. The BOIR must be filed by a domestic reporting company, which is defined under the CTA as an entity that is a...
Last summer, we reported to you that—as of July 1, 2023—Minnesota state law would prohibit, with few exceptions, future noncompete agreements between employers and employees, regardless of income, title, or role. However, all previously existing noncompetes would...
The rise of home-based businesses represents a fundamental shift in the way Americans work. Home businesses offer their owners a convenient and flexible way to earn income without commuting to a traditional office. They may also qualify for tax breaks in the form of...
Over the last few decades, marijuana (aka cannabis) laws across the United States have become increasingly more permissive. In 1996, California was the first state to allow medicinal cannabis.[1] In 2012, Colorado and Washington approved legal recreational...
The decision to hire family members for your business is a delicate balancing act that involves both personal and professional considerations. Working with loved ones can create a sense of trust and unity within the workplace and has been shown to increase business...
The internet has been a game changer for small businesses, allowing them to reach new markets, hire nonlocal talent, and compete with larger companies. You may also have remote team members and vendor partners that are vital to your success. In short, not having an...
Child support is a critically important obligation between parent and child to ensure and directly support the child’s well-being. However, parents sometimes fall behind on their child support payments because they cannot pay, or in some cases, they do not want to...
A client came in with a 1991 divorce decree with an unusual provision that required him to pay his ex-wife fifty percent of any inheritance he might receive from his parents in the future. Now, with his mother recently deceased, the client was about to receive a...
Starting a new business takes a lot of work. Before you serve your first customer or fulfill your first order, it is important to first determine the best business form for your business and complete the official formation process. Although starting a business is a...