Buying an existing business can be a great way to get started in an industry – but you need to be conscious of how the purchase is structured. Two common approaches involve buying the company’s assets and purchasing its shares. Either way, you can end up in control of...
If you’re heading toward divorce – even if you haven’t begun the legal process yet – it’s not too early to review your estate plan. You’ll likely need to make multiple changes, but state law makes some changes automatically. Each estate plan is unique, so it’s wise to...
Mergers can help companies grow rapidly or introduce new goods or services that neither business could have provided on its own. When two businesses combine their operations and resources, they may become more efficient or profitable. Months of research and...
If you’re the heir or other beneficiary of a person’s estate, you may feel like you’re at the mercy of the estate’s executor (known in Minnesota as a personal representative). It’s not uncommon for beneficiaries to feel like the personal representative isn’t doing...
If a person dies without an estate plan, their immediate family members become their heirs. Heirs have a statutory right to receive assets from an estate after the personal representative administering the estate has addressed relevant financial obligations, such as...
Sometimes, business partnerships end due to the dissolution of a shared company. Other times, misconduct by one party triggers a dispute that results in litigation. There are also buyout scenarios in which people choose to end a partnership in a more amicable manner....
Small business owners should have a clear plan in place for what happens to the company if they retire, become incapacitated or pass away. A business succession plan can help preserve company continuity and protect employees, customers and family members. Careful...
People choose their beneficiaries based on their personal relationships and obligations. People with resources often name their spouses, children and grandchildren as their beneficiaries. Friends and other extended family members may also be beneficiaries of an...
Some estates have beneficiaries. The person who died established a clear estate plan naming specific people to inherit their property. A large portion of all estates transfer assets to heirs instead. The person who died did not leave testamentary documents, and...
People drafting wills often have one or two specific priorities. Parents may want to ensure there is a guardian to care for their children if they die. Successful adults often want to control who inherits their property. They may focus on allocating businesses, real...
We are pleased to announce that on August 1, 2026, the attorneys and staff of the law firm of Courey, Kosanda & Zimmer, P.A (CKZ), will be joining the law firm of Barna Guzy & Steffen, Ltd. (BGS), located in Coon Rapids, Minnesota.
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