LEGAL UPDATES

A total return unitrust can help maintain family harmony

A traditional trust can sometimes create a conflict between the lifetime and remainder beneficiaries. For example, investment strategies that provide growth that benefits remainder beneficiaries can leave lifetime beneficiaries with little or no annual…

Apply for a waiver if you’ve missed the 60-day IRA rollover deadline

IRAs and employer-sponsored plans such as 401(k)s are powerful retirement savings tools, but they also provide valuable estate planning benefits. If you hold a traditional IRA for life, for example, your children or other…

Don’t overlook securities laws when planning your estate

For a variety of estate planning and asset management purposes, many affluent families hold their assets in trusts, family investment vehicles or charitable foundations. If assets held in this manner include interests in hedge…

The Law of Unintended Consequences: Bar and Retail Store Owners Continue to Grapple with the Effects of Equality Legislation

(The following article was published in the Spring 2018 issue of Proof, a magazine published by the Minnesota Licensed Beverage Association) Lawmakers and business owners do not always see eye to eye when it…

Power of attorney abuse: What you can do about it

A financial power of attorney — sometimes called a “power of attorney for property” or a “general power of attorney” — can be a valuable estate planning tool. The main disadvantage is that it’s…

Five estate planning tips for the sandwich generation

The “sandwich generation” accounts for a large segment of the population. These are people who find themselves caring for both their children and their parents at the same time. In some cases, this includes…

A joint home purchase can ease estate tax liability

If you’re planning on buying a home that you one day wish to pass on to your adult children, a joint purchase can reduce estate tax liability, provided the children have sufficient funds to…

Only certain trusts can own S corporation stock

S corporations must comply with several strict requirements or risk losing their tax-advantaged status. Among other things, they can have no more than 100 shareholders, can have no more than one class of stock…

If you made gifts last year, you may (or may not) need to file a gift tax return

Gifting assets to loved ones is one of the simplest ways of reducing your taxable estate. However, what may not be as simple is determining whether you need to file a gift tax return…

Monroe Moxness Berg has provided legal and financial expertise in business law, finance, mergers and acquisitions, intellectual property, franchise and distribution, estate planning, taxation, wealth preservation, real estate, land use, employment, and commercial litigation for more than 35 years.

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