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LEGAL SERVICES FOR THE TWIN CITIES

FAQ

The sections below provide answers to a few commonly asked questions

 

 

Bankruptcy FAQ’s

Real Estate Law FAQ’s

Business Formation FAQ’s

Estate Planning FAQ’s

Divorce & Family Law FAQ’s

 

Bankruptcy FAQ’s

How do I know if I should declare bankruptcy or not?

There’s no way to know whether bankruptcy is the right solution to your…

problems without consulting a dedicated Minnesota Bankruptcy Attorney. We..

conduct a comprehensive review of your family’s financial situation and give you advice as to..

what you should do.  If debt consolidation or negotiation might be preferable. We’re convinced that declaring  bankruptcy  offers you and your family the best opportunity to resolve your financial challenges.  We’ll assist you in filing for Chapter 7 or Chapter 13 bankruptcy and keep you informed about your rights and options every step of the way.

 

What kind of debt can I erase by declaring bankruptcy?

Filing for bankruptcy allows families to wipe out dischargeable debt. Although the process by which this takes place depends on whether a family is filing for Chapter 7 or Chapter 13 bankruptcy.  Either way, debt-saddled families can expect that bills related to credit cards, medical expenses, utility payments, and unsecured loans can be immediately or eventually wiped out.  Schedule a consultation with a skilled Minnesota bankruptcy bankruptcy lawyer to learn more.

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy, also known as a liquidation, allows an individual to sell off assets in order to pay creditors under the oversight of a trustee appointed by the bankruptcy court, after which time any dischargeable debt remaining is erased.  If a person is current with their home and vehicle payments, they may not have to sell the important assets in order to satisfy the terms of the bankruptcy court.  In practice, individuals filing for Chapter 7 bankruptcy who are not behind on their mortgages and vehicle payments often end up not having to sell any property at all because they have nothing else of value besides these assets.  Ask a dedicated bankruptcy lawyer if you might qualify for Chapter 7 bankruptcy based on your income, debt, and your property.  If so, we’ll get  started on a review of your finances to figure out if declaring Chapter 7 bankruptcy really is in fact the best option for you and your family.

What is Chapter 13 bankruptcy?

Declaring Chapter 13 bankruptcy is a way for individuals with substantial debt to restructure payments to creditors in a reasonable and practical way over a three to five year period.  As long as they adhere to the terms established by the bankruptcy court, at the end of the period.  Individuals who have filed for Chapter 13 can expect the remainder of their dischargeable debt to be erased.  Filing for Chapter 13 will also put an end to garnishments and harassing calls from collection agencies and may allow homeowners to remain in their homes even if they are behind with their payments at the time of filing.  Make an appointment with a seasoned bankruptcy attorney to learn more about the process of filing for Chapter 13 bankruptcy in the state of Minnesota.

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Real Estate Law FAQ’s

Why should I hire a Minnesota Real Estate Attorney when I’m buying or selling a piece of property?

Partnering with a Minnesota Real Estate Lawyer is the best way to safeguard your substantial investing and your rights if you are purchasing or selling a piece of residential or commercial  property.  The complex rules and regulations surrounding real estate law in the State of Minnesota give deceptive lenders and other fraudulent parties ample opportunity to take advantage of those who lack adequate representation when engaging in a real estate transaction.  A knowledgeable Minnesota real estate attorney can guide you through the process of purchasing or selling a home or other piece of property from beginning to end and ensure that everything goes as smoothly as possible.

What should I do if I have a dispute concerning a piece of real estate?

No matter what kind of civil dispute you are having, it’s critical to retain dedicated legal representation as early as possible if you expect your voice to be heard in court.  Schedule a consultation with a fearless Minnesota real estate lawyer who has more than 25 years of experience in civil litigation on behalf of clients involved in real estate disputes over easements, eminent domain, boundary issues, and other matters.  Most real estate disputes can resolved before reaching the litigation phase, but if necessary, you’ll have an aggressive and skilled partner regardless of what side of the courtroom you may be on.

What are the advantages of the Torrens System?

The Torrens system makes it easier for potential mortgagees or purchasers to learn about the condition and history of a property for the purposes of buying or selling it.  A residential or commercial piece of real estate that has not been registered as Torrens property means that mortgages, liens, or other interests may affect its title. However, under the Torrens system, all such interests are established by the court alone.  Ask a seasoned real estate attorney about the way Torrens law has been implemented in Minnesota and what it means for you in regard to your unique real estate transaction.

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Business Formation FAQ’s

What factors determine the type of business entity I choose?

The type of business entity you select largely depends on your goals and needs as an entrepreneur.  New business owners will often choose a business entity based on what degree of liability if offers, along with the kind of taxes it will be susceptible to.  For example, under a partnership, small business owners remain personally liable for any debt associated with their business.  While under a limited liability corporation, or LLC, they do not.  Ask a business formation lawyer to explain the respective advantages and disadvantages of the different types of business entities if you are considering forming a small business in the State of Minnesota.

What type of business entities are available to Minnesota entrepreneurs?

The most common types of business entities chosen by entrepreneurs include not only the LLC and the partnership, but also the sole proprietorship, the limited partnership (or LP), and of course, the corporation.  Each type is treated differently under state and federal tax law.  A knowledgeable business formation attorney can assist you in selecting the right business model for your needs when it comes to taxes, liability, and other issues.  Schedule a consultation with a friendly Minnesota business formation lawyer today to get started on making your new business venture a legal reality.

How does as S corporation differ from a C corporation in the State of Minnesota?

Whether a corporation is classified as an S corporation or a C corporation depends on what portion of the Internal Revenue Code those forming it decides it is to be treated under.  Subchapter S of the code dictates that the shareholders of a corporation, rather than the corporation itself, can be taxed on its profits.  Under Subchapter C, however, the corporation itself is taxed, but the dividends earned by shareholders from the tax-adjusted profits can then be taxed again.  Speak to a skilled Minnesota business formation attorney today if you are planning on establishing a corporation and have questions about whether an S corporation or a C corporation might better suit your business needs.

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Estate Planning FAQ’s

Why do I need to have an estate plan?

Having a comprehensive estate plan in place insulates your property and your dignity against uncertainty at the time of your passing.  By creating a will or a trust with the aid of a skilled estate planning lawyer and taking advantage of legal tools such as powers of attorney and advance healthcare directives, you’re putting a plan in place that can help guarantee that your assets reach your loved ones after your death in accordance with your wishes.  It also ensures that your own medical and financial interests are protected in the event of incapacitation or other unfortunate developments.

What are the benefits of having a will?

Wills are ideal for individuals whose wealth portfolios are relatively simple and don’t necessarily need the flexibility a trust provides.  Establishing a will is a fairly quick and inexpensive process and having a valid will in place at the time of your passing is an excellent way to ensure that the distribution of your assets takes place in accordance with your wishes after your death.  Ask a seasoned estate panning attorney about what other advantages a will offers for those who are seeking to establish a comprehensive, yet affordable estate plan.

What are the advantages of having a trust?

A trust is a far more versatile legal tool compared to a will.  For example, trusts can be used to manage an individual’s wealth during their lifetime on behalf of beneficiaries as well as after their death.  Although more expensive to establish, trusts, unlike wills, don’t have to be subjected to the probate process to be rendered legally valid.  Trusts are also ideal for families who have complicated asset portfolios and who wish to shield their wealth from superfluous taxation or other factors that can decimate an estate.  Speak to an knowledgeable estate planning lawyer today to find out if a trust might be the right fit for your estate planning needs.

What is probate court?

Probate court is the process by which a will becomes recognized as legally valid in the State of Minnesota.  The creator of a will names a personal representative or executor in the will, and this individual becomes responsible for overseeing  wills  passage through probate court after its author’s passing.  The personal representative is responsible for collecting the assets of the decedent, paying legitimate debts to tax agencies and other creditors, and then dividing what remains of the estate among the heirs named in the will.  Ask an experienced estate planning  attorney about how we can help you reduce the expense and time associated with probate court if you have been named a personal representative in the will of a deceased individual.  Depending on your circumstances, we may even be able to help you avoid going to probate court all together.

Divorce and Family Law FAQ’s

Do I have to have an attorney if I want to get divorced?

The simple answer is “no”, but given the complexities of Minnesota family law, partnering with a knowledgeable divorce attorney is highly recommended.  Even when a couple is in agreement about the basic outcomes of this process, the legal paperwork and the court procedures involved in filing for divorce can be very intimidating.  Using forms from as online company or having a paralegal prepare your divorce papers can have the same repercussions.  Nothing can replace qualified legal assistance when dealing with divorce.

How does the court establish child custody?

The type of custody a Minnesota Family law court choses to grant depends on what the court considers to be in the child’s best interest.  Custody can be either physical or legal and either awarded jointly or solely.  A child custody attorney can explain the different types of custody to you in greater detail.

How much time will it take for me to finally be divorced?

It can take anywhere from six months to a year or more for a divorce to be finalized.  The specific time frame involved depends on many variables, including to what degree you and your spouse can agree on a final settlement.

Can I have custody and support orders modified?

Yes.  We can assist you with modifications should the need arise.  If both parents are in agreement regarding child custody or child support modifications, it is a matter of filing the proper paperwork.  If there is any disagreement however, it will be necessary to go to court to have these decisions considered.  Either way, you can call our office and have all your questions answered by talking to an experienced modifications attorney.

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Call (651) 735-9340 to speak with a Minnesota Attorney with over twenty five years of experience.