Past articles have discussed the advantages of having your cabin in trust so that you avoid probate. Other articles have talked about why you should hold title in a cabin trust if the cabin is shared by multiple families. A more recent issue, however, is that many people now rent out the cabi... continue reading »
Articles Tagged as limited liability company
The following article is about the transition to the new Minnesota Revised Uniform Limited Liability Company Act. The old statute governing the formation, operation, and management of limited liability companies (LLCs) in Minnesota will be repealed and replaced by the new statute on January 1, 20... continue reading »
Often a new business is started with high expectations of success and profits, perhaps on a national or worldwide scale. We imagine that our little company will grow into the next Honeywell, Microsoft, or dare we say Snapchat. Or we just imagine that our company will succeed in the town in which ... continue reading »
What’s involved in buying a business? It may be as simple as purchasing a truck, inventory, and equipment or as much as purchasing all the shares of a corporation.
One way to proceed with the purchase of a business is to buy all the assets related to the operation of that business. This ... continue reading »
In our lakes area communities, there are many businesses that have been in business for 40, 50, 100 years or more. These ‘legacy businesses’ standout as a testament to the owners’ hard work, dedication, and planning. According to Inc.com, 96% of businesses fail within the first 10 years. So... continue reading »
The following article is on the importance of the protections of the corporate and limited liability company (LLC) statutes. Our law firm assists many area businesses with their entity formation and other business law concerns.
The first corporations in America were formed in the late 18th... continue reading »