On August 2, 2016, the IRS and the U.S. Treasury Department issued proposed regulations under Section 2704 of the Internal Revenue Code that would have the effect of eliminating or scaling back many valuation discounts for family-controlled entities…
Read More
If you are a small business owner, putting a plan in place in the event of your incapacity or death can ensure that your business survives, your family can continue to be supported, and your assets will pass to your family efficiently. Without a plan…
Read More
Jason Wagner recently wrote an article about estate planning for pets that is featured in the Fall 2016 issue of The Wagazine. You can read the article on The Wagazine’s website here: http://thewagazine.com/estate-planning-for-pets/.
Read More
A 501(c)(3) organization is the most common type of tax-exempt entity that falls under Internal Revenue Code 26 U.S.C. § 501(c), the law that provides for the different types of nonprofit organizations. For an organization to become a 501(c)(3) its…
Read More
Labor Day is celebrated every year on the first Monday of September. This holiday marks not only the unofficial end of summer and start of a new school year, but also the importance of labor and rest. The holiday was officially recognized in 1894. In…
Read More
College is a very exciting time for both students and their parents. It is a time when many young adults typically have their first opportunity to exercise independence while living away from home. What many parents may not realize is that if their s…
Read More
Probate is the process of settling a person’s estate after he or she has died. In Minnesota, a probate can be either informal or formal and supervised or unsupervised. Usually an informal unsupervised probate is requested as it can be more effi…
Read More
If you have life insurance, a 401(k), or a bank account, you have almost certainly already completed beneficiary designations. Chances are you did not give it much thought at the time. You might not even remember who you named as a beneficiary, but i…
Read More
A health care directive is a written document in which you make your wishes known about your health care. Through a health care directive you can also name who you want to act as a health care agent for you in the event you are unable to make decisio…
Read More
