Avoid pitfalls when splitting gifts with your spouse

The annual gift tax exclusion allows you to transfer up to $15,000 per beneficiary gift-tax-free for 2020, without tapping your lifetime gift and estate tax exemption. And you can double the exclusion to $30,000 per beneficiary if you elect to split the gifts with your spouse. It’s important to understand the rules surrounding gift-splitting to . . .

Business succession and estate planning: It can be complicated

Transferring a family business to the next generation requires a delicate balancing act. Estate and succession planning strategies aren’t always compatible, and family members often have conflicting interests. By starting early and planning carefully, however, it’s possible to resolve these conflicts and transfer the business in a tax-efficient manner. Ownership vs. management succession One reason . . .

Minnesota Supreme Court issues major decision regarding sexual harassment

On June 3, 2020, the Minnesota Supreme Court issued a much-awaited opinion concerning sexual harassment law. The court reaffirmed cases holding that sexually harassing behavior must be “severe or pervasive” in order to state a valid claim, but also pointed out that societal views of what constitutes severe or pervasive harassment have evolved to the . . .