Escape From a Bad Trust: 5 Strong Reasons to Decant Your Trust

Cari Rincker Estate Planning Leave a Comment

When a bottle of wine is decanted, it’s poured from one container into another. When a trust is decanted, trust assets are poured from an old trust into a new trust with more favorable terms. Why Should a Trust Be Decanted? Trusts are decanted to escape from a bad trust and provide beneficiaries with more favorable trust provisions and benefits. …

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Episode 55 of Ag Law Today: Personal Injury Considerations for Farmers and Ranchers

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I am so appreciative of the opportunity to speak to quality professionals like Zach Anderson and Josh Rohrschieb with BRE Law.  Hear us discuss personal injury considerations for farmers and ranchers on this episode of Ag Law Today. Please don’t forget to subscribe on YouTube so you don’t miss a beat.  You can also follow Rincker Law on YouTube here.  …

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What Is the Difference between a Trust and an LLC?

Cari Rincker Business Law, Estate Planning Leave a Comment

Trusts and limited liability companies (LLCs) are both legal vehicles that can be used to manage and protect assets, minimize taxation, and avoid probate. Whether a trust or an LLC is a better choice may depend on the type of asset, but you do not necessarily have to choose between the two. In fact, an LLC can be placed in …

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Do It Now: Name a Guardian for Your Minor Child(ren)

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We know it’s hard. Thinking about someone else raising your children can stop you in your tracks. It feels crushing and too horrific to consider. But you must. If you don’t, a stranger will determine who raises your children if something happens to you – your children’s guardian could be a relative you despise or even a stranger you’ve never …

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Not Just Death and Taxes: 5 Essential Legal Documents You Need for Incapacity Planning

Cari Rincker Estate Planning Leave a Comment

Comprehensive estate planning is more than your legacy after death, avoiding probate, and saving on taxes. Good estate planning includes a plan in place to manage your affairs if you become incapacitated during your life and can no longer make decisions for yourself. What happens without an incapacity plan? Without a comprehensive incapacity plan in place, your family will have …

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Ask Ruth: Direct Beef Sales in Illinois

Cari Rincker Food & Ag Law Leave a Comment

There are two major considerations when selling beef in Illinois direct to the consumer. The first thing farmers should consider is how they want to sell their beef. Do you want to sell a percentage of the live animal, a percentage of processed beef, or an individual cut of beef? Depending on how you wish to sell your beef will …

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How to Create an Effective Hunting Lease – Part Two

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Have a look back at Part One of this Hunting Lease series for tips and tricks on the basics of hunting lease agreements.  What Happens if There is a Dispute Over a Hunting Lease?  While one goal of hunting lease agreements it to preempt any disputes or disagreements between the lessor and the lessee, another goal is to roadmap what …

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How to Create an Effective Hunting Lease – Part One

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What is a Hunting Lease? And Do I Need A Written Hunting Lease Agreement?  In its simplest form, a hunting lease is an agreement between a landowner (the “lessor”) and a hunter (the “lessee”) whereby the landowner agrees to let the hunter use his or her land for hunting purposes in exchange for cash rent.  While it may feel like …

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Important Questions to Ask When Investing in a Vacation Property

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According to the National Association of Home Builders, in 2018 there were approximately 7.5 million second homes, making up 5.5 percent of the total number of homes.[1] These homes are not only real estate that must be planned for, managed, and maintained, they are also the birthplace of happy memories for you and your loved ones. Following are some important …

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How Do I Obtain a Business Loan?

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Small businesses are the backbone of the US economy, accounting for nearly half of the country’s economic activity, creating two-thirds of new jobs, and driving innovation—and business loans are the backbone of small business growth. Lenders provided over $644 billion in small business loans in 2019, according to the Small Business Association (SBA). The most common reasons why businesses borrow …

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Key Person Insurance: What Is It and Do I Need It?

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We protect what we value most with insurance. Car insurance and home insurance ensure that we can financially survive a major property loss. Life insurance pays money to beneficiaries after a death, acting as a financial lifeline to the deceased’s loved ones. Business insurance is a hedge against uncertain losses and unpredictable risks that companies face. Key person insurance, also …

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Business Ownership Considerations for Non–United States Residents

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Moving to a new country and starting a life there presents myriad challenges. Founding a business in the United States as a nonresident can be even more challenging. It requires navigating a convoluted immigration system, which specifically lacks a startup founders visa. That is on top of the extensive paperwork and filings required of all US business owners, both foreign …

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