Wills and Estates: Are you prepared for that next step in life?

May 26, 2022  |  William F. Huefner

Writing a will and planning for that next step in your life can be an emotional and overwhelming process. Many people tend to avoid it until it’s too late. There are several things you’ll need to have in order when setting up your will. It is not as easy as simply writing it up yourself and keeping it in a place for someone to find. A will is something that needs thorough planning, oftentimes with the help of a legal professional. Continue reading to find out how you should properly handle creating your will and what documents you will need. What are the documents needed for a will? First things first, what exactly is a will? A will is a legal document that details your wishes regarding the distribution of your finances and property, the care of your minor children, as well as other material possessions you may own in the event of your death. It allows you to direct how your belongings which can include bank accounts, investments, real estate, and jewelry, are distributed and to whom. If you decide to prepare your will yourself, begin by compiling a list of your assets and debts. Be sure to include all contents like safe deposit boxes, family heirlooms, and other assets that you wish…

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Is Your Company Record Book a Thing of the Past?

April 25, 2022  |  Carole Clark Isakson

Business operations are constantly modernizing, and certainly the most substantial changes in the last 50 years center on internet use and electronic data. With advancements in technology, is your company record book a thing of the past? Keep reading to learn more about how and where to retain business data, details, and information. Updating Business Operations Businesses are constantly modernizing, and of course much of that is made possible and based on internet use.  Interactions with customers, vendors and other parties are primarily electronic, as the use of actual paper to do business has declined. Even prior to the imposition of COVID measures, companies held board meetings via video conferencing systems, saving significant time and money that would otherwise be spent on airline tickets and additional travel costs. Board materials are now shared via secure data rooms, preserving resources and providing greater protection for sensitive materials. Documents are signed electronically, adding greater efficiency, convenience, and reliability to the process. Which brings me to this: Do you dust off your hardcover company record book – or toss it? Before answering that question, consider why the book exists at all. Documenting the Particulars By law every corporation in Minnesota is required to keep specific records. These are set out in Minnesota Statute Section 302A.461. In…

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BGS Attorney Carole Clark Isakson Promotes Women in Business

April 18, 2022  |  Carole Clark Isakson

On the evening of March 31 BGS attorney Carole Clark Isakson had the pleasure of presenting a two hour seminar on company formation and other issues to WomenVenture clients. WomenVenture is a Minneapolis based entity that helps women of all ages, cultures, races and income build profitable and sustainable businesses by providing needed education, training, funding and ongoing support. Isakson’s presentation was part of one of the education programs available to attendees; during the session the attendees learned about the most common Minnesota business structures. They learned about C and  S corporations, sole proprietorships, general partnerships, limited partnerships and limited liability companies. Trademarks and other intellectual property rights were discussed, and resulted in a great discussion about tradenames, entity names, trademarks, and where those concepts connect (or don’t connect). Isakson has volunteered her legal expertise to WomenVenture for several years now, working with WomenVenture or directly with the women starting businesses. Since its inception in 1978 WomenVenture has provided more than 104,000 women with the tools and resource to achieve economic success, and Carole is proud to be a small and recent part of that.  More on WomenVenture can be found on its website www.womenventure.org   

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