By Thomas Fafinski One question I often get when advising MSPs on legal matters is: “Am I supposed to Negotiate an Agreement with my Customer before Selling any Product or Services?” This is the q...
Virtual Estate Planning Will Become Mainstream
By Thomas M. Fafinski, tom@virtuslaw.com For years, we have been able to execute business transaction documents electronically from the convenience of our home or office or even by use of a sma...
Overtime Pay Requirements are Changing in January
Overtime Pay Requirements: Rule Update, Effective January 1, 2020 By: Lindsay Hewitt, Virtus Law Attorney On September 24, 2019, the U.S. Department of Labor (the “DOL”) announced a final rule reg...
Creating a Fool-Proof Estate Plan
Whether it is due to financial immaturity, a disability, or concerns about your child’s spouse… there are solutions to ensure that the inheritance you are leaving behind for your adult children is...
No Income Taxes on Trust based upon Residency Status of Certain Beneficiaries
By Thomas M. Fafinski On June 21, 2019, the United States Supreme Court affirmed a North Carolina Supreme Court decision that the presence of in-state beneficiaries does not provide the state the au...
A Simple Estate Plan
There’s an old saying “KISS” that stands for “Keep It Simple Stupid.” While that last word is a bit harsh, there are things that should remain as straightforward as possible. For example, so...
Minnesota’s Elective Share Statute
During probate, the estate’s personal representative locates and assesses the deceased person’s property. However, not all property becomes part of the probate estate. The personal representative ...
What Is Trust Administration?
Ethan had signed the paperwork to establish his dynasty trust. He transferred ownership of assets and cash to fund the trust. He understood that his trustee would take over now and handle the trust ad...
Estate Planning for Parents with College-Bound Kids
Sending the kids off to college may leave parents with an empty nest. But they have more to think about than whether to turn Junior’s bedroom into a home gym. Parents with college-bound kids also ha...
When to Use a Credit Shelter Trust
Most people want to limit the amount of tax they pay. Whether it’s income tax, estate tax, or capital gains, we’re all looking for legal ways to protect our hard-earned dollars from the tax man. S...