Most business owners are looking for additional liability protection when establishing their estate plan. They are typically fearful of an employee or customer suing for more than their insurance will allow for, or piercing the corporate veil and then coming after the owner’s personal assets. A revocable living trust is a great tool for incapacity, [...]
How do I transfer real property into my revocable living trust? Our attorneys will assist you with the retitling of your property. Typically, your property can be quit claimed from you as an individual to the trustee of your trust. For example, if you established a joint revocable living trust on January 1, 2015, the [...]
One of the most common misconceptions people have is that, when a spouse dies leaving their estate to the surviving spouse, no probate is required. If the spouse who passed away had title to real property held in their name alone or as a tenant in common, or they had assets with a value of [...]
Since joining Robert Rochford in June of 2013 to create Rochford & Langins, LLC, I have noticed that some of the most common questions I get from people in and around Rochester and Plainview center on: the need for wills or trusts and an explanation as to the difference; how to qualify for medical assistance [...]
First a brief overview. Governor Mark Dayton signed into law the Minnesota Revised Uniform Limited Liability Company Act (the “Act”) on April 8, 2014. The Act became effective on August 1, 2015, for all LLCs formed on or after that date. Minnesota LLCs in existence on July 31, 2015, remain governed by the present Minnesota [...]
The short answer is it depends. Supplemental Needs Trusts and Special Needs Trusts, when used properly, can be used to benefit those with disabilities by supplementing and managing their resources while maintaining their eligibility for special assistance. If you or a loved one has a qualified disability, and you are considering a special needs trust [...]
