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Many people overlook the monetary and sentimental value of digital assets, and the information needed to ensure they are discovered and administered according to their estate plan.
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Changes in the law have reduced reliance on corporate formalities to preserve liability protection, and, as a result, many businesses hold owner and board meetings and adopt written actions less frequently.
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Large public events, such as the Super Bowl, present a potentially lucrative opportunity to rent all or part of a home, condo, or apartment for a promising cash windfall.
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 Moss & Barnett is introducing an additional version of our firm newsletter. Click to preview the new Magazine Format.
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 We are very pleased to report that Moss & Barnett has once again been named a "Best Law Firm" by U.S. News - Best Lawyers.
The 2017 "Best Law Firms" list reflects the high level of respect that a firm has earned among other leading lawyers and clients in the same communities and in the same practice areas for their expertise, professionalism and integrity. More> |
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We are pleased to announce that Marcy R. Frost has rejoined the firm in an "of counsel" capacity, adding to our existing services in the area of employment law. As a Certified Labor and Employment Law Specialist, Marcy advises businesses on the full spectrum of legal issues concerning their workforces. She works with clients to develop employment policies and manuals and on the best methods to communicate policies effectively to their employees. When addressing hiring, firing, and other changes in the employment status, Marcy serves as a trusted resource for the numerous questions that arise. More > |
 Stuart V. Campbell has joined the firm's litigation team. Stuart assists businesses and individuals with their litigation needs, including commercial and business disputes and a variety of other areas. Prior to joining Moss & Barnett, Stuart worked as a litigator in the public and private sector and has first-chair civil and criminal trial experience. He received his J.D., magna cum laude, from the University of Minnesota Law School and his B.A. from the University of Minnesota College of Liberal Arts. |
Nicole A. Swisher has joined the firm's business law team. Nicole advises clients on a broad range of corporate and financial transactions, including corporate formation and governance, mergers and acquisitions, and corporate restructurings. During law school she served as the Publications Editor for the University of St. Thomas Law Journal, as well as a law clerk for the Ramsey County Attorney's Office in St. Paul, Minnesota. Before joining Moss & Barnett, Nicole clerked for two years for the Honorable J. Leon Holmes in the U.S. District Court for the Eastern District of Arkansas. She received her J.D., magna cum laude, from the University of St. Thomas School of Law and her B.A., magna cum laude, from the University of Minnesota-Twin Cities.
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Martha I. Berreman, a paralegal with our intellectual property team, was recently certified as a Minnesota Certified Paralegal (MnCP). Martha supports and assists the firm's attorneys in preparing and filing copyright applications, as well as domestic and foreign trademark applications. She also assists in maintaining trademark registrations. In June 2014, the Minnesota Paralegal Association announced its voluntary certification program to establish a standard of competency for paralegals in Minnesota. The program is an opportunity for Minnesota paralegals to validate their qualifications and offers a credential to paralegals who meet certain education and experience requirements. Martha joins the ranks of our other MnCPs: Loralee Berle, Shelly Doerr, Mara Gollin-Garrett, Stacie Iverson, Carolyn McCune, and Carol Yerks. Paralegals are key elements of the firm's practice teams, assisting the firm's attorneys in providing efficient, cost-effective solutions to our clients.
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Michael T. Etmund and Michael S. Poncin, attorneys with our creditors' remedies and bankruptcy team, have been honored to serve as chairs of state chapters of the Association of Credit and Collection Professionals (ACA International). Mike Etmund will serve as the ACA New York Attorney State Chair, and Mike Poncin will serve as the ACA Minnesota Attorney State Chair. Both terms will run October 1, 2016 to September 30, 2017. More > |
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This is a reminder that annual renewals for all Minnesota limited liability companies, limited liability partnerships, limited partnerships, for-profit and non-profit corporations, cooperatives, assumed name certificates, and foreign business registrations must be filed with the Minnesota Secretary of State no later than
December 31, 2016. Failure to timely renew can lead to confusion or delay in certain business transactions, additional costs, administrative dissolution or termination, and even the loss of entity name
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Businesses filing their annual renewals online this year will, for the first time, be presented with a brief "Business Survey" requesting certain employee, ownership, operational, and financial data.
Please note that this survey is not part of the mandatory renewal process, and participation is purely voluntary. In deciding whether to provide information requested by the survey, businesses should be aware that all responses are public under state law and that the Secretary of State's Office plans to package and sell the data beginning in early 2017.
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The U.S. Department of Labor recently issued new rules raising the salary threshold required to qualify for the "white collar" exemption under the Fair Labor Standards Act to $47,476 per year or $913 per week. The new salary level is more than double the current $23,660 annual or $455 weekly cutoff to qualify for exemptions for executive, administrative, and professional employees.
Employers are now faced with the challenge, before December 1, 2016, of analyzing the status of all employees who earn less than the new salary threshold, but who were previously exempt from overtime, to determine how they will be paid going forward. Employers will have to consider whether to increase the salaries of those employees to meet the new salary threshold or to reclassify them as non-exempt and thus eligible for overtime.
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Currently, individuals can transfer ownership interests in family-owned businesses to other family members at a reduced tax cost by relying on valuation discounts. The value of interests transferred to family members is usually discounted because of various restrictions imposed on the new owner's ability to participate in management, transfer his or her ownership interests, or compel the sale of the business. The proposed rule change, if adopted, may effectively eliminate discounts for restrictions on the new owner's ability to:
* Participate in management (lack of control)
* Transfer ownership interests (lack of marketability)
* Force a distribution or sale
The public hearing on the proposed regulations is scheduled for December 1, 2016, and the new regulations (if adopted) are expected to become effective in 2017. However, because of the uncertainty about if and when the proposed rule change will be adopted, we encourage owners of family businesses to evaluate options for transferring ownership interests to family members sooner rather than later to ensure valuation discounts can be used before any new regulations are adopted.
In addition, if the new rules are adopted, the rules will also expand the circumstances where changes to voting and liquidation rights associated with ownership interests in the family-owned businesses will be subject to gift or estate tax.
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Moss & Barnett is pleased to congratulate its attorneys who were included in The Best Lawyers in America® for 2017. More >
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| Wayne Hergott and Dr. Michael Hemesath, President of Saint John's University |
Wayne A. Hergott, a retired Moss & Barnett attorney, was awarded the Father Walter Reger Distinguished Alumnus Award at the Saint John's University homecoming banquet on September 16, 2016. The award is the highest honor bestowed by the Alumni Association and salutes a key alumnus in the name of Fr. Walter Reger, OSB (1894-1971), who was the long-time secretary of the Alumni Association. More>
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| Phone: (612) 877-5000 | Fax: (612) 877-5999 | www.LawMoss.com |
| 150 South Fifth Street | Suite 1200 | Minneapolis, MN 55402 |
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