Our Blog
What is a Non-Probate Asset?
Estate Planning is the process of directing how your assets will be transferred when you pass away. Some belongings are transferred by directions in a Last Will and Testament. This is the probate process (to learn more, read our previous article, “Probate is Not a Four Letter Word”).
Why Do Minnesota Business Owners Need an Agreement?
Agreements between the owners of a new business are an essential part of forming a new business. Shareholder agreements apply to owners of corporations; member or operating agreements apply to owners of limited liability companies.
Should I Buy My New Office With a Real Estate Holding Company?
If you are looking to buy new real estate for your business, you have a question to answer, whether you realize it or not:
Should I buy real estate through my existing company or create a Real Estate Holding Company to buy it and rent it to my existing company?
Probate is Not a Four-Letter Word
The idea of probate is simple enough: Probate is the process where debts are paid and the ownership of certain property is transferred by the “Personal Representative” of a person who has died (this person used to be called the Executor of an estate). Some assets never go through probate because they are jointly owned, or have payable or transferable on death designation. Probate exists to transfer assets that are individually owned without any beneficiary designation.
Should You Name Your Children as Trustees?
Trusts can benefit your children and grandchild by protecting your assets from creditors, divorce proceedings, and even from the financial decisions that your children or grandchildren may make.
He said what? How To Handle Online Disparagement By Former Employees.
An issue we have been seeing pop up with some regularity is the online disparagement of companies by former employees. While it can take many forms, we often see it in the form of Facebook posts by former employees. While it is a nightmare to get attacked online because it is damaging to your reputation: and it is potentially unlawful.
Who gets the Family Cabin?
As the saying goes, A family cabin isn’t a place, it’s a feeling.
We all know that a family cabin is more than just a building. Beyond the beautiful views, a family cabin is a place of nostalgia where countless summers are spent making memories with your children. Family cabins are important family legacies.
Can I Leave My Estate to My Dog?
The answer is, well… Kinda.
April is National Pet Month. So, this month we wanted to honor our beloved companion animals by discussing how you can provide for them, even after you are gone.
How Do I Pass Along My Business to Someone I Trust?
One of the most important questions any business owner has to consider is about the succession of their business: Who will take over for you? A trusted employee? Your children? What if only one child is currently working in the business? What is fair?
That is why every business owner, whether they are running a shop, farm, tech start-up, or food truck, should have a Business Succession Plan.
Remarrying? Estate Planning Considerations to Keep in Mind.
When you remarry, you’re enjoying a second chance at a happy future with someone you love. However, there’s more to planning for this new partnership than booking a wedding venue and inviting guests. You should revisit your estate plan or take your new, extended family into account when putting one together.
Top 5 Reasons to Update Your Estate Plan
The start of a new year often brings a renewed sense of purpose, a desire to fulfill procrastinated goals, and reflections on the passage of time. The year 2020 was a time of uncertainty for many people. So, as we turn the corner and begin anew in 2021, many of our clients are looking to the future with their Estate Plans in mind. With how quickly life and circumstances can change, it is essential that you not only have an estate plan, but have a plan that is up-to-date and captures the realities of your current life.
Minnesota Probate Law: Contesting a Will in Minnesota
It’s not uncommon for one or more family members of a recently deceased person to express dissatisfaction with their share of the estate. They may not be happy with the inheritance provided in a will. However, simply saying the decedent’s Last Will and Testament gave them an unfair amount is not a legally sufficient reason to challenge the will. Minnesota law establishes specific grounds upon which an interested party may challenge the validity of a will or other estate planning document.
Understanding the Role of the Personal Representative
When someone passes away in Minnesota, the probate court appoints a personal representative to administer their estate. This party, who has a duty to distribute the decedent’s property to all parties with a legitimate interest in the estate, may hire an estate planning attorney to assist them in carrying out all required responsibilities, which are detailed in this blog.
Durable Powers of Attorney Explained
A power of attorney is a document where another person is authorized to act on your behalf for legal, financial or other matters. Powers of attorney are effectively a permission slip to act for someone else and handle their financial and legal affairs.
Top Three Reasons to Review Your Business’s Contracts with an Attorney
Contracts are essential to any business. Whether you use them for transactions with customers, contractors or employees, it is important that your contracts are legally sound and say what you mean for them to say.
Three Reasons to Act Promptly After a Loved One Dies
No amount of preparation can take away the grief that you feel after a loved one passes away. At Grabitske Law Firm, we understand that this is a difficult time and it can be challenging to make good business decisions while you are mourning.
What Happens if You Die Without a Will in Minnesota?
At Grabitske Law, we always want to emphasize to our clients the importance of having a current estate plan in place. We are sometimes asked, “What would happen if I died without a Will?” In today’s blog post, we will answer that question.
Understanding Disputes in Probate
Sometimes families fight when people die. Estates generally must go through probate before assets can be distributed to heirs. After a loved one passes away, emotions run high and, unfortunately, there can sometimes be disputes during probate.
Five Considerations for Business Succession Planning
It’s a wonderful feeling to realize that your business will live on past you. However, you may feel overwhelmed when you think about the planning to transition your business.