Do I need a Will? Watch this 60 second video!
Attorney Laura Kohlenberg answers the question: Do I need a will?
RSVP for our Online Workshop–Ask an Expert for Small Business Owners
Attendees of this workshop will learn how to optimize financials and develop strategies for their small business. Questions are encouraged on the following topics presented by local professionals with expertise in the area: Learn about the importance of a business succession plan with attorneys Laura Kohlenberg and Cathy Jones of Rochford Langins Jarstad Analyze your [...]
Fixed-Rate Versus Adjustable-Rate Mortgages: Pros and Cons
As you look for a home, whether it's your first or your fifth, you'll need to decide whether you want to get a fixed-rate or an adjustable-rate mortgage. What's the difference? With fixed-rate mortgages, monthly payments remain the same for the life of the loan, no matter how long it runs. With an adjustable-rate mortgage [...]
SBA EIDL and PPP Loans and Their Tax Implications
Many businesses in Plainview, Rochester, Wabasha and surrounding areas are struggling. Among the many relief provisions passed by Congress in recent days are loans focused on small businesses. This isn't entirely new to the SBA, which has long been in the loan business, but recently passed laws supercharged the offerings. As with so many government [...]
Virtual legal services during COVID-19 (coronavirus)
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
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?
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?
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?
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 [...]
Pet Trusts: Taking Care of Spot When You are Gone
Our pets can feel like family sometimes and now Minnesota law lets you treat them that way. In 2016, Minnesota was the final state to add a provision to its trust code to allow for pet trusts. A pet trust allows you to leave funds for the care of your animal after you are gone. [...]