Greetings, So, I have an LLC registered in the state of Minnesota, however I am still coordinating its logistics/operations. In the meantime, I have been working on building a second business that I have not registered yet. I would like to do s...
An LLC can conduct multiple types of business operations and can make use of assumed name(s) as long as those names are registered with the MN Secretary of State. This is not actually a "parent" company situation, as that would involve two separate companies, one owned by the other. Instead, you would have one company with two different business lines.
The main reason that people avoid situations like you describe is to isolate liability between the businesses. For instance, if a single company both sold widgets and provided technical consulting, liability from either of those endeavors would affect the assets held by the entire company. By using two separate companies, the assets of each company are protected from the liabilities of the other company.
I recommend that you consult with a business attorney to be sure that your business structure hits the right balance between cost, efficiency, and protection.See question
Will it be the end of the court involvement when an estate has an unsupervised PR, granted by the court? Does the person have to write a report to the court at the end of the process?
In an unsupervised administration the Personal Representative may, but is not required to, file the final account, consents to final account, and statement to close the estate with the court. The probate is closed when the administration is complete. If you are unsure about what steps are necessary in the administration of a particular estate, you should consult an attorney who can make sure the appropriate accounts, consents, and receipts have been handled.See question
my mother passed in 2010. I am one of three siblings. Her estate is to be divided equally in thirds. My older brother is the executor. We do not talk. In fact I have not heard from him in seven years. I heard through the grapevine that my brothers...
I agree with attorney Hartwig. First you should check to see if a probate has been opened. It sounds like one most likely has at this point if the condo has been sold. You can call the county court administrator if you know where the probate would occur (probably the county where your mother resided at the time of death) or search here by your mother’s name online at: http://pa.courts.state.mn.us/default.aspx.
If a probate has been opened and you have questions about whether your brother is acting properly as executor, you should hire an attorney to help determine if the proper notices and inventory have been sent out, as well as whether assets are being properly handled. If the attorney determines something is amiss, you can petition to have your brother removed and replaced as personal representative (the Minnesota term for executor).
If your brother has violated the terms of your mother’s Will (for example, by selling property that your mother wanted to be distributed to you and your siblings), he may be legally liable to your mother’s Estate and/or you. Again, consult with an attorney about any potential claims.See question
My fathers will says: I give the residue of my estate, consisting of all property which I can dispose of by will and not effectively disposed of by the preceding articles of this Will, except any property over which I may then have a testamentary...
In most cases "grandchildren" would be interpreted literally, meaning your father's children's children. If, however, one of the grandchildren is deceased with living descendants and the will says that the gift is "per stirpes," then the children of the deceased grandchild would split the deceased grandchild's share. I recommend consulting with an attorney who can review the will in its entirety and get to know more of the facts for a definitive determination about what each person is entitled to.
If your family is administering the will, then there usually would have been a probate opened. Depending on the type of probate (formal supervised, formal unsupervised, or informal), the estate may need court permission to make any distributions. Even if not, I strongly recommend that the estate retain an attorney to ensure that the will is administered correctly. Doing so could prevent or resolve challenges to the estate that could otherwise be costly and time consuming.See question
I am a licensedacupuncturist in the state of Minnesota licensed through the Minnesota board of medicine. My business will be a llc. am I required by law to be a Profesional firm?
The Minnesota Professional Firms Act is Minnesota Statutes Chapter 319B, which can be found at https://www.revisor.leg.state.mn.us/statutes/?id=319B. It's designed as a way to allow professionals whose license requirements prohibit limiting liability for malpractice or other ethical violations to still use a limited liability entity to shield themselves from other types of liability.
Acupuncture is not specifically named in the statute as a required industry, but the list is not exhaustive. Check with your licensing board to see if they require you to make the 319b election for your LLC. If your licensing rules don't require the election, then you can operate as a standard LLC. If you do so and are still not sure about whether to elect, consult with a business attorney.See question
I agree with attorney D'Esposito. You are not required to use an LLC or other limited liability business type, but doing so can help protect your personal assets from business liability. Without such an entity, the business's debts and liabilities will generally be your personal debts and liabilities.See question
My Dad made a living will before he passed on February, 2017. After he passed, my estranged Mother, who is in possession of the will, is refusing to let me view it. I know my Dad left me some items, but my Mom says he left everything to her. I've ...
Generally a probate will need to be filed to transfer title to your father's assets. If that occurs the Will will become a public document available through the Court. If your mother doesn't open a probate and you believe that you are entitled to assets under the Will, you can apply to open a probate and the court can compel production of the Will. Administering disputed estates can be costly in money and relationships, so if you can reach a voluntary solution, doing so would be the best outcome.
I recommend that you speak to an attorney who can get more facts and help you make a decision about the best way to move forward.See question
My mom Is a narcissist and a compulsive lier. She has devestated my life, and continues to do so now that I am an adult. I have decided to become estranged from her for my own well being, and would like to be totally cut off from her legally as we...
I agree with attorney Harris's answer. Having a Will or living trust will ensure that your assets go where you want them to go if you pass away, having a health care directive will ensure that the person you name will be the one making health care decisions for you if you are not able to do so yourself, and having a power of attorney will allow you to name someone to handle your financial affairs if you are alive, but unable to do so yourself. An estate planning attorney will be able to assist with drafting these documents and putting them into use.See question
I am looking to the future I am 78yr I want to avoid probate tax on house after I die & leave the house to childern. Also to avoid losing home if I enter a nursing home
Yes. The homestead tax exemption generally only applies as long as the applicant owns and resides at the property. However, if you plan to transfer title to your children and to continue residing at the house as your primary residence, you may be able to re-apply for the homestead exemption as a qualifying relative of the owner(s).
If your children aren't planning to use the property as their primary residence, and if you or another qualifying relative are not planning to make that property a primary residence, your children probably aren't eligible themselves to apply for the homestead exemption. You can find a link below to Hennepin County’s homestead fact sheet, which includes eligibility requirements.
Guardian is abusing power, has decided to let wards home start the foreclosure process. Guardian has restricted visitations on ward on all interested parties in the case, is not supporting wards wife. Guardian threatens wards that he will need to ...
A conservator/guardian can be removed if it is in the ward’s best interest or for other good cause. Under Minnesota law, the way to remove a conservator/guardian is to petition the court that granted the conservatorship/guardianship for termination of the conservatorship/guardianship. Either the ward or an interested person can bring the petition. The petition can include a request that some other named party be appointed successor conservator/guardian. This type of proceeding can be complex and is often disputed, so I strongly recommend that you retain an attorney to assist you.
Consult with an experienced attorney in the appropriate area before taking any steps. You can view the law described above on petitioning the court at this link: https://www.revisor.leg.state.mn.us/statutes/?id=524.5-112/?id=524.5-112.