Perhaps you have recently purchased some investment property. Or maybe you have been running a side business for years. If you have ever wondered whether it would be worth it to incorporate your business by creating a LLC, limited partnership, or S-corporation, read on! Asset protection. LLCs, Limited Partnerships and S-Corporations offer liability protection. This [...]
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, [...]
In the News: How does Minnesota’s new Limited Liability Company Act affect my business in Southeastern Minnesota?
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 [...]