If you’re a gun owner, having a plan for what happens to your gun is just as important as planning for the distribution of your possessions and assets if you become incapacitated or pass away. Creating a gun trust is the best way to legally and safely manage and transfer certain regulated weapons. What […]
Rule is Currently Blocked Nationwide The Federal Trade Commission (FTC) adopted a new rule that was set to render most non-compete clauses with employees and contractors unenforceable starting September 4, 2024. However, on August 20, 2024, a federal court held the FTC’s non-compete rule was unlawful and blocked its enforcement nationwide. What does that mean […]
Without a business succession plan in place, a number of events can happen to a business after the owner dies or suddenly becomes incapacitated, and a lot can depend on the business structure. Sole Proprietorships: If the owner of a sole proprietorship dies, the business, like the rest of the deceased’s possessions and finances, becomes […]
Just as important as wills and estate plans are for individuals and families, so are business succession plans for business owners. A succession plan is essentially a strategy for what happens to a business if the owner should pass away or simply decide to step away. It’s also a pathway to help business owners identify […]
With the recent adoption of the Colorado Paid Family and Medical Leave Insurance (FAMLI) Act in January 2024, there have been a lot of questions about who is eligible and what the benefits are, and the benefits from FAMLI as opposed to the Federal Family and Medical Leave Act (FMLA). While every employer is required […]
After signing a non-disclosure agreement (NDA) at the beginning of a merger and acquisition (M&A) transaction, the next step is for the buyer to produce a detailed letter of intent (LOI). This letter outlines the major terms of the transaction. Related: See “M&As: Key Issues in Buyer Non-Disclosure Agreements” In essence, the LOI is a […]
Colorado’s commitment to reaching 100% renewable energy by 2040 has sparked a big push in alternative energy projects around the state. It’s also brought in outside interest from alternative energy companies hoping to secure access to available agricultural land to set up wind and solar farms. This can be a nice benefit for farmers looking […]
A Qualified Personal Residence Trust (QPRT) can be a useful estate planning tool for strategically reducing gift and estate tax burdens on your beneficiaries when the asset is transferred. How QPRTs Work: A QPRT is an irrevocable trust. Once you transfer a property into the trust, you will not be able to take back ownership. […]
Hackstaff, Snow, Atkinson & Griess is proud to announce that Of Counsel Ann West recently closed a large sale of the Universal Tractor Co., a farm and construction equipment dealer, to Kubota of Denver. Universal Tractor Co. has been a family owned and operated fixture in the West Denver community for 74 years. Under its […]
Most people are aware that disinheriting someone is the intentional act of preventing a person from receiving a share of the deceased’s estate. But “accidental” or “unintended” disinheritance is what happens when someone fully intends to leave assets to a family member, but improper or inaccurate estate planning practices result in that person being disinherited, […]
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