Minnesota’s Earned Sick and Safe Time (ESST) law went into effect on January 1, 2024. The Minnesota Department of Labor and Industry recently proposed new rules regarding ESST that are intended to provide additional guidance to both employers and employees regarding the application of the ESST law.
Lessons in Classification: Minnesota’s New Worker-Misclassification Laws and the Significant Risks They Pose for Underprepared Employers
John Bisanz, Jr. | Dylan Wallace
Newly enacted Minnesota employment laws have substantially enhanced the remedies available to workers who have been misclassified by their employers, including the imposition of civil penalties and damages.
Capital Gains & Stepped-Up Basis: What Does That Mean for My Estate Plan?
Christopher Burns | Scott Emery | Bezel Bailey III
With retail investors gaining momentum and real estate values continuing to rise, many are seeking advice on capital gains taxes. Understanding key strategies like the “step-up in basis” can help reduce tax burdens for heirs.
2024 changes in Minnesota Marriage Law – Antenuptial Agreements
Lisa Spencer | Bezel Bailey III
August 1, 2024, will usher in significant new changes to Minnesota law related to Antenuptial Agreements, reshaping the landscape for enforcement of Agreements signed after August 1, 2024.
Seize the Opportunity: Expert Guidance Essential as Estate Tax Exemption Sunset Approaches
Christopher Burns | Scott Emery | Brigitt Orfield
The current federal estate and gift tax exemption amounts are scheduled to be more than cut in half from in excess of $14,000,000 to less than $7,000,000 due to the sunsetting of tax breaks on December 31, 2025. For high-net-worth individuals, the time to plan for these changes is now. Partnering with a skilled estate planning team is crucial to navigate these changes effectively.
FTC Rule Bans Noncompete Agreements: What Employers and Employees Need to Know
Benjamin Hamborg | Eric Friske
On April 23, 2024, the Federal Trade Commission (FTC) issued a final rule that will significantly impact the use of noncompete agreements in the United States. As an employer or employee, it is crucial to understand how these changes may affect you and your organization.
Understanding Liquidated Damages Clauses: Insights from Lagoon Partners Case
Benjamin Hamborg | Dylan Wallace
Liquidated damages clauses are often included in a variety of commonplace contracts, such as employment agreements, non-solicitation and nondisclosure agreements, and even lease agreements.