By Thomas M. Fafinski There was a split between several of the Federal Appellate Circuits regarding the registration requirement of copyright infringement suits. Last week, the United States Supreme...
Is My Out-of-State Estate Plan Valid in Minnesota?
It’s a well-known fact: states within the United States have their own identities, their own cultures, and even their own laws. What works in Minnesota may not work in Kentucky, and vice versa. When...
What’s the Difference Between an LLC and a Corporation?
Every business has a structure or an entity type. So, one business might be a professional corporation, another might be a sole proprietorship. When it comes time to choose the structure your business...
Writing Your Ethical Estate Plan: It’s More Than Family History and Grandma’s Apple Pie Recipe
Families may be large or small, but they all have one thing in common: memories. How often have we heard family legends from older relatives or shared our own stories with younger generations? When pu...
DON’T IGNORE YOUR DEFENSE (Especially if it Scores you Points)
Author: Thomas M. Fafinski, Attorney/Partner, VIRTUS LAW, PLLC Most managed service providers (“MSPs”) exert their efforts on their offense. Little attention is spent on defense. The i...
Will-Based or Trust-Based – Which Type of Estate Plan Should I Choose?
There are two basic kinds of estate planning: will-based and trust-based. So, it should be easy to choose, right? It seems simple. Wills are the foundation of will-based plans and trusts are the...
Failing to Plan: Not Having a Business Succession Plan Could Derail Your Business
As a successful business owner, you’ve worked hard to get where you are. You know all about sweat equity and sleepless nights. So, doesn’t it make sense to want your business to continue after you...
Trusts That Fit Your Lifestyle
Dan and Jean S. own a successful family business that was founded over 100 years ago. Max B.’s estate currently is worth more than $12 million. Sean’s 30-year old daughter suffers from multiple sc...
New Gifting Rules: What You Need to Know
When someone gives another person property without getting anything in return, it’s called “gifting.” This term is often used when talking about taxes. However, gifting can be an important part ...