You may have heard that there is a chance that the volcano lying underneath Yellowstone National Park may erupt in the near future and cover this area in ash. Then again, it might also not do so for another 1000 years. What does this mean for you? Well, for starters, it wouldn't hurt to have your estate plan up-to-date.
Tom Jacobson has been selected to the 2018 Minnesota Employment and Labor Super Lawyers list. Each year, no more than five percent of the lawyers in the state are selected by the Super Lawyers' research team to receive this honor. This is the third time Jacobson has made this list. Certified by the Minnesota State Bar Association as a Labor and Employment Law Specialist, Jacobson is a shareholder at Swenson Lervick.
A common theme in estate planning here in lake country involves what to do with the family cabin. Two frequently utilized options are a family cabin in a trust or limited liability company (LLC). Each method, as an estate planning tool, has its pros and cons depending on the specific circumstances.
When developing an estate plan, I often hear clients say, "I need a trust because I want to avoid that probate thing."
A buy-sell agreement is typically associated with the ownership of a small business. As the name might imply, a buy-sell agreement defines the terms under which an owner of a business can buy out or sell out to others - other owners, third parties, etc. With multiple owners, an up-to-date buy-sell agreement can give a good estimate of the value of the small business.