Thought Leadership


Takeaways From the Prince Estate Six Years Later

Takeaways From the Prince Estate Six Years Later

Christopher Burns | Alan Eidsness | Scott Emery | Brigitt Orfield | Lloyd Stern

Prince Rogers Nelson “Prince” died in April 2016 at the age of 57 leaving behind an estate with an appraised value obtained by the estate’s administrators of $82.3 million vs. a $163.2 million appraisal by the Internal Revenue Service (IRS). Now, not quite six years later, the estate has finally settled a long running dispute…

Gift Tax, Probate, Wills & Trust Agreements
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Beneficiary Responsibility for Estate Tax Liability

Beneficiary Responsibility for Estate Tax Liability

Scott Emery

The role of personal representative of an estate includes numerous responsibilities, which include inventorying assets of the estate, identifying liabilities, and paying debts. Generally, the personal representative will make distributions to beneficiaries in accordance with their interest after the satisfaction of all obligations of an estate. However, it is not uncommon for a beneficiary to…

Taxes
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President Biden Encourages Limits on Non-Compete Agreements in Executive Order

President Biden Encourages Limits on Non-Compete Agreements in Executive Order

Benjamin Hamborg | Eric Friske

On July 9, 2021, President Biden issued an executive order that has the potential to significantly impact the ability of Minnesota businesses to utilize and enforce non-compete agreements. According to a White House Fact Sheet issued in conjunction with the order, the purpose of President Biden’s Executive Order on Promoting Competition in the American Economy…

Non-Compete Agreements
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