Myriad Solutions for All Your Legal Needs
Whether you want to start your small business or plan your legacy, the attorneys at Reppe Law Office PLLC provide effective, personalized solutions. Our accessible attorneys can answer all your business planning, building and administration needs and help you provide for future generations.
Helping You with Business Formation
Our business law attorneys can assist you with business formation in Minnesota. After assessing your business’s structure and needs, we can help you choose one of the following statuses:
- Sole Proprietorship — This type of entity has a single owner and must be registered with the Minnesota Secretary of State and local business authorities. Sole proprietors file business profits or losses on their personal tax returns.
- Partnership — When two or more people are in business together, they form a partnership, and each contributes something of value. Generally, the partners assume liability for the entire amount of any business debt or claims against the partnership. Both partners file income taxes, reporting the profits or losses according to their ownership share. The business itself does not get taxed, but the partners file an annual report with the IRS reporting income, deductions, losses, and gains.
- S Corporations — Certain benefits inherent to S Corporations make them attractive to business owners running small- to medium-sized enterprises. Shareholders can elect to have taxes flow through the corporation to their personal returns to avoid double taxation.
- C Corporations — This type of entity requires many formalities, including filing articles of incorporation. Shareholders invest in the company, limiting their liability to the investment and absolving them from any debts created by the company. C Corporations pay taxes on profits to the IRS, and shareholders are taxed on earnings from the corporation.
- Limited Liability Company (LLC) — One of the most popular business types today, LLCs provide flexibility and limited liability for owners, without the tax liability and formalities required by other corporate entities. The business owners draft articles of organization and create a member control agreement to govern business operations, membership interests, and profit and loss sharing.
The lawyers at Reppe Law Office PLLC advise business owners about careful planning and offer hands-on help with all business formation needs.
Estate Planning Lawyers Help You to Preserve Your Legacy
If business formation begins your journey to build wealth, then estate planning can help you share your financial success for generations to come. The attorneys at Reppe Law Office PLLC help you make difficult end-of-life decisions, even for our clients who are just starting to accumulate wealth. Taking the time to make sure your wishes are carried out, however, provides peace of mind and security for your loved ones.
We help you thoroughly understand the process and your options, so you feel empowered to make good decisions. We use the following documents in the estate planning process:
- Last Will and Testament — Wills are written instruments signed and formally witnessed by two people. A will names the people and organizations who inherit your property and assets after your death. The will also names an executor or representative to carry out the instructions and appoints any guardians for minor children.
- Living Will or Advanced Directive — These written instruments provide instructions to doctors and hospitals in case you fall into a persistent vegetative state, otherwise known as a coma. It also provides specific details about your wishes regarding medical care should you become unable to give informed consent in the future.
- Healthcare Proxy — Also known as a durable power of attorney for healthcare, this document appoints a trustee to make health decisions on your behalf should you become incapacitated.
- Living Trust — This mechanism allows you to place your property into a trust while you are alive. It remains in effect even if you fall into a coma or die. Trusts can be revoked or altered during your lifetime, and they are helpful in annual tax planning. Creating a living trust can help your heirs avoid a lengthy probate process upon your death.
End-of-life discussions may be difficult at any point in life. The estate planning lawyers at Reppe Law Office PLLC provide reassurance that you are doing the right thing, and we make sure that it is done right so your heirs don’t have to face legal problems at a difficult time.
Gain Insightful Guidance from Experienced Attorneys Who See the Big Picture
Take charge of your business planning and your estate with effective, compassionate counsel. Contact Reppe Law Office PLLC online or call us at 507-645-5569 for a free initial consultation at either of our office locations. Weekend appointments are available. Our firm serves Dakota, Rice, and Goodhue counties.