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A frequent concern for estate planning clients is how to avoid owing estate taxes at their death. Because the estate tax has become a political issue, some of these clients are also concerned about how the election results might impact the estate tax. The following is a basic explanation of the federal estate tax and some thoughts on what to expect over the next few years.
READ MOREWith great sadness, we announce the unexpected passing of one of our own, Larry Rocheford. Please keep Larry and his family in your thoughts.
READ MOREJim Krause has joined Lommen Abdo’s litigation practice focusing on professional liability, attorney discipline, insurance defense, insurance coverage and commercial litigation. Jim is a Badger, having earned his B.A. from the University of Wisconsin – Madison in 2017, along with certificates in business, entrepreneurship and European studies. In law school, Jim was a senior editor of the St. Thomas Law Journal and was a member of the University’s Moot Court team. Jim spent the better part of his law school years as a law clerk and claims handler at Minnesota Lawyers Mutual Insurance Company and brings that perspective to his practice at Lommen Abdo. Jim also previously clerked for the Olmsted County Attorney’s Office where he handled a variety of matters for the county’s civil division and learned his way around the courtroom.
READ MOREIn many cases, it makes more sense to sell a family business instead of passing it to the next generation to operate. During nearly five decades of practicing law, Bob Abdo has advised numerous family businesses. One thing he’s learned: “No two families are the same.” Abdo, executive vice president of Minneapolis-based law firm Lommen Abdo, says family dynamics can be mind-bendingly complex, and not every business owner wants to pass their company on to the next generation—nor does that generation necessarily want to take it.
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