For many people in Minnesota, the thought of planning their estate is met with feelings of anxiety and stress. They have heard about writing a will, drafting a long-term care plan, determining beneficiaries and guardians, and coordinating power of attorney assignments. With each new thing they hear, the feelings of being overwhelmed grow and soon, the process is so intimidating, they decide it is unnecessary until a future date. However, taking the initiative to plan and implement a detailed estate plan now, is an incredible benefit for families who desire to reduce the stress, confusion and contention of their loved ones following their death.
One of the most exciting parts of starting your own company in Minnesota is the ability to control operations and dictate which direction to take your success. You get to determine your future by assessing and selecting strategies that will propel your organization ahead of its competition. However, with your anticipated opportunities also comes a heightened risk of liability. Mitigating your risk is crucial to build a strong foundation and protect your brand.
You understand that the IRS limits the amount on the gifts you want to give to family members as you carry out your estate plan in Minnesota. It is important to preserve as much of your wealth as possible, though, and you want to help your children and grandchildren get established now. An intra-family loan may be just the estate planning technique you need.
A dispute between you and a co-owner or co-founder can ruin your company. It can derail everything you have worked so hard for. It can even end your friendship. This is something you must take seriously, no matter how unlikely it seems.
You have just been approached with a tempting offer from an industry leader to buyout your company. The proposal made mention of many promising benefits that could propel you into an even more successful career path. However, you are also aware that this fortunate opportunity brings with it a unique set of risks. At Dunlap & Seeger, we have helped many Minnesota companies to acquire needed legal protection as they continue to grow and develop their organization.