Inheriting farmland can be more complicated than simply receiving the title to the real estate. Inherited farmland can take many forms including from a lifetime gift, or estate, or a trust. Considerations may differ depending on whether you have inherited farmland outright or in and entity such as a Trust, Corporation, or LLC. Although Minnesota has no inheritance tax, the farmland in a Trust or Estate may be subject to an Estate Tax or Gift Tax depending on how it was received. Additionally, whether the land can be designated as Homestead will determine your real estate tax obligations. You... Read More
Fall is traditionally a time for taking stock, reorganizing, and preparing. Don’t forget to add creating or updating your Will to your fall to-do list. Your Will is an essential document directing the transfer of your property when you die. A Will is necessary if you wish to make specific gifts to friends, loved ones, or charities. A Will allows you the opportunity to dispose of your assets after you die to people or organizations that normally would not inherit any portion of your estate. You can also identify specific assets that are unique to your estate such as family... Read More
Do I need a living will or healthcare directive? Should I have a power of attorney in place? Does my will or trust need to be updated? These are some of the questions people are asking in the wake of growing concerns over the COVID-19 outbreak. Changes in the size and nature of your estate, your familial structure and family relations, as well as changes in the law are just few examples of events that can drastically and materially affect an outdated comprehensive estate plan. Under normal circumstances, these concerns are not top of the mind. But a global health... Read More
Stop by and visit Farrish Johnson attorney Paul Moosbrugger at the 50+ Lifestyle Expo in the Mankato Civic Center from 9am to 2pm TODAY!
As the Spring Season enters full swing, it is a good time to do spring cleaning, to plant the garden and trim the bushes, to address home improvement projects that have been neglected, and for many, to dust off their Estate Planning Documents for a regular review. The average person’s financial, familial and legal circumstances are constantly in flux. Over time, these changes can call for the need to revisit and potentially revise one’s estate plan. Changes in the size and nature of your estate, your familial structure and family relations, as well as changes in the law are just... Read More
Instances of physical abuse and neglect, as well as financial abuse and exploitation of Minnesota’s communities of elderly and vulnerable adults continue to prevail. Whether it be assisted living or nursing home staff, in-home caregivers, or family members charged with the physical and financial care of elderly and vulnerable adults, it is thought that as many 1 in 10 American’s over the age of 60 can experience some form of elder abuse during their lifetime. This high number is largely based on the statistic that only about 1 in every 14 cases of elder abuse are actually reported. According to... Read More
Join us on Thursday, March 14 at 10 am at the Madelia Library for a FREE seminar on estate planning! We will discuss the following topics: Wills Trusts Probate vs. Non-Probate Healthcare Directives Transfer on Death Deeds Estate Tax Planning Solutions Charitable Gift Planning Medical Assistance Minnesota Farm Estate Tax Exception And More! Refreshments will be provided. This event is open to the public. Invite your friends! CALL 507-625-2525 TO RSVP TODAY! See you at the Library on March 14!
In 2015, the Minnesota Lynx won the WNBA title. It was their third franchise title and was followed by another win in 2017. Also in 2015, Paul Moosbrugger joined Farrish Johnson Law Office after working as a law clerk for the Honorable Kurt Johnson in Blue Earth County. Minnesota Lynx The Minnesota Lynx basketball team based in Minneapolis, MN, plays in the Western Conference in the Women’s National Basketball Association (WNBA). The Lynx have qualified for the WNBA playoffs in 9 of the 19 years, winning four championships in 2011, 2013, 2015 and 2017. They are tied with the Houston... Read More
Effective January 1, 2018, significant changes go into effect for limited liability companies organized in the State of Minnesota. The new law brings significant changes to the management and governance of an LLC. If your LLC was organized prior to January 1, 2015 or is not organized under Minnesota Statute 322C, you are likely impacted by this new legislation. If you have questions or concerns about these upcoming legislative changes or for any business law questions, please contact Paul Moosbrugger or Steven Fink. The attorneys at Farrish Johnson Law Office can be reached in our Mankato office at 507-625-2525 and... Read More
Attorneys and staff from Farrish Johnson Law Office will be at the Mankato 50+ Lifestyle Expo tomorrow, Tuesday, May 9 from 9am to 2pm at the Verizon Event Center. Paul Moosbrugger and Steve Fink will be available to answer your questions about estate planning, trusts, wills, probate, tax law, heath care directives, power of attorney and more. Farrish Johnson Law Office offers a comprehensive range of legal services and we look forward to see you at this exciting event!