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January 2020 Archives

Have realistic expectations when starting a business

It is admirable to have dreams that one wants to achieve. However, it is important to remain realistic about those dreams, and Minnesota residents may want to ensure they have the right information before creating upheaval in their lives. For example, many people think that starting a business will change their lives in positive ways. While this can certainly be the outcome, some may think that it is easier than it really is.

Chapter 11 bankruptcy can reduce obligations to shareholders

Companies have financial obligations to many different parties. When a business hires people to work, they have an obligation to fulfill the promises made regarding that employment, including the payment of wages. Companies also have financial obligations to local and federal government agencies because they must collect and pay taxes.

Discretionary trusts can be useful when estate planning

Many Minnesota residents may want to use their estate plans to protect assets for beneficiaries. Fortunately, trusts are one estate planning tool that can easily achieve this goal. In particular, discretionary trusts can ensure that beneficiaries are not at unnecessary risk of losing their assets.

Business formation can benefit from the 4 Ds

Being an entrepreneur is not for everyone. However, if Minnesota residents feel that it is a journey they want to take, it can be helpful to know from the start which characteristics could help them during business formation and when reaching success in the years to come. In particular, the four Ds may be worth considering.

The new year can be a catalyst for estate planning, updates

Creating an estate plan can be a prudent resolution to make in the new year. Even if Minnesota residents have already created a plan, they can resolve to review and update those plans as needed. Estate planning can certainly be helpful, but the information is the most helpful when it is up to date.

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Dunlap & Seeger, P.A.
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Rochester, MN 55904

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