Virtual legal services during COVID-19 (coronavirus)

By |2020-03-26T14:08:55+00:00March 26th, 2020|Business Law|

Rochford Langins Jarstad law firm will continue to provide legal services to clients through several virtual options during the outbreak of COVID-19 (coronavirus). We remain dedicated to meeting the legal needs of our clients while prioritizing the health of the communities we serve. Please call our office with any questions or concerns you may have.

Exit Planning for Business Owners

By |2020-03-03T14:32:58+00:00March 3rd, 2020|Business Law|

Whether your business is a start-up or a mature business, exit planning should be part of your overall business plan. That may sound counterintuitive, but the fact is that no one knows when they may have to leave their business. Exit Strategies Not including an exit strategy in your business plan is understandable when your [...]

Do You Need a SLAT Trust?

By |2020-03-03T14:37:23+00:00February 24th, 2020|Estate Planning|

What is a SLAT Trust?  A spousal lifetime access trust (SLAT) is an irrevocable trust that authorizes the trustee to make distributions to a spouse if a need arises. It can be designed to benefit one's children, grandchildren or future generations. A lifetime gift tax and a generation-skipping tax exemption can be used to shield [...]

You’re a Trust Beneficiary: What’s Next?

By |2020-02-04T20:19:45+00:00February 4th, 2020|Estate Planning|

As a trust beneficiary, you have certain rights. However, trusts can take many forms and may be governed by unique provisions established by the creator of the trust or grantor, so details will vary. First, if you are a beneficiary, it's important to know what kind of trust you're named in. If it's a revocable trust, that [...]

The new SECURE Act: How Will It Affect You and the Beneficiaries of Your Retirement Accounts?

By |2020-01-29T22:58:14+00:00January 29th, 2020|Estate Planning|

On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act is effective January 1, 2020 and is the most impactful legislation affecting retirement accounts in decades. The SECURE Act has several positive changes: It pushes back the age you must take required minimum distributions [...]

Top 4 Ways to Avoid Probate in Minnesota

By |2020-02-04T20:13:13+00:00January 9th, 2020|Estate Planning|

How to Avoid Probate in Minnesota Probate can be a long, contentious, frustrating and a VERY expensive process. For these reasons, most people will try to avoid probate in any way possible. So, how do you avoid probate in Minnesota? When people ask me this question I generally advise them to consider the following four options: Gifts [...]

Trusts: Why a Will May Not Be Enough

By |2020-02-04T20:13:34+00:00December 23rd, 2019|Estate Planning|

You're ready to face the task of documenting how you will pass along your assets to your family and friends. But you're stuck: Should you use a trust or a will? Here are five considerations. Trusts avoid probate; wills don't. Probate is the legal process estates generally have to go through. It typically involves lawyers, [...]

What Does an Estate Plan Look Like?

By |2020-02-04T20:14:20+00:00December 10th, 2019|Estate Planning|

You may be convinced that you need an estate plan, but you're fuzzy about what it covers and even how to make one. One great place to start is to determine your net worth. Determining Your Net Worth Determine your net worth as follows: add up rough estimates of the values of your assets. Assets [...]