In many families, everyone gets along, happily gathering for the holidays, sharing laughs, telling stories, and enjoying each other’s company. Then, the matriarch or patriarch dies. Suddenly, years of pent-up resentment and hurt feelings surface, and the once-happy...
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Choosing a Trustee in Minnesota: 5 Common Mistakes to Avoid | Sjoberg & Tebelius | Estate Planning
If you plan to create a trust for the benefit of your children, choosing the right trustee is critical. Initially, you may think that a family member (let’s call him Uncle Bill) will be the best choice. After all, Uncle Bill understands your children’s personalities...
TODD Statutes – Maintaining Insurance After The Death Of a Beneficiary
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...
Filing A Beneficial Ownership Information Report (BOIR)
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...
The Latest Word on Noncompete Agreements
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...