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Eagan, Minnesota, Legal Blog

Four things to consider when you invest in commercial real estate

There are many reasons you might first think about investing in commercial real estate. You might notice how popular a new shopping area has become. You might learn how a 1031 like-kind exchange can help you build a legacy of wealth that you can pass to the next generation. Or you might simply become attracted to idea of investing after closing on a couple of homes.

Whatever first gets you thinking about commercial real estate investment, it’s important to understand that buying commercial real estate is significantly different than buying residential real estate. It’s a good deal more complicated, and there are more risks involved. You can mitigate the risks by working with the right people and asking the right questions. Here are four of them.

When someone hurts you, it affects your children as well

Behind closed doors, many couples struggle with threats and acts of domestic violence. However, whether your partner has a physical outburst, quickly followed by an apology and promise to change, or makes you feel afraid to leave them because of what might happen, you may recognize you are in an unhealthy relationship.

Although you might love or depend on your significant other and want to work things out, staying together may not be best – for you or your kids. You should not subject yourself to domestic violence. And if you have children, do you understand the importance of removing them from a situation where they continually see you suffer?

Do not automatically dismiss probate as part of your estate plan

The headlines make it sound like a clear-cut answer: “Why you should do everything possible to avoid probate,” one of these posts might read.

The truth is, estate planning is more nuanced than that. Avoiding probate might indeed be the right path for some families. But for others, the probate process might offer benefits that may make some supposed downsides worth it.

So they accepted your bid. Are you sure you should close?

Purchasing a house can be exhilarating. Whether you found something to fit the needs of your growing family or are downsizing now that your kids are on their own, finding a place that meets both your needs and your budget can entice you to bid as quickly as possible to secure a deal.

For whatever reason, at times you may be able to find an affordable price on a property that would otherwise be out of your reach. However, it is wise to make sure you do your due diligence before agreeing to the purchase terms of your new home.

How a power of attorney can offer everyone peace of mind

Many people when they hear the phrase “power of attorney” consider it a scary term, something that comes up only in dire circumstances. The reality is much less harrowing. Power of attorney is essentially a practical legal tool, one that can reduce any future strain on your family and loved ones.

With that in mind, here’s an explanation of power of attorney, including what it is, what it allows for, and when you might want to consider it.

What mistakes should you avoid during your divorce?

At its core, divorce is often painful at best. Not only do you need to come to grips with the fact that your marriage is over, but also decide how you will part ways as you move forward on your own.

But as you consider the past, you must also look to the future. Although you might wonder what your life will be like moving forward, you probably hope you can get through your divorce process relatively unscathed. In many cases, it could be helpful to remain aware of some potential mistakes you should try not to make.

Consider your city's zoning laws before your start your business

As a business owner, you probably want to do everything possible to grow your company. You have researched the market and your business plan is set.

While choosing a business location, you want your doors to be accessible, and you likely thought about how easily your customers and vendors could notice your signage. But how thoroughly have you considered the zoning laws of your community?

Why would you choose someone else to raise your children?

As parents, you do the best you can for your children. You give them the best education possible, offer a wide range of enrichment activities, and provide travel opportunities that expand your children’s minds.

Although you do everything within your power to give your children a wonderful life, it is also important to consider what would happen if the unexpected were to occur. Since you are young and healthy, perhaps you have not given estate planning much thought. But now that you have children, it would be beneficial to plan for all possibilities.

Prenups in Minnesota must be signed without undue pressure

Love does not always last forever, and unless you hire a savvy lawyer, your prenuptial agreement might not last either.

A prenuptial agreement – commonly known as a prenup and in Minnesota legalese known as an antenuptial agreement – is drawn up between a couple before their marriage to determine the disposition of assets that are both brought into the marriage and, in some cases, assets that accrue during a marriage.

Is it time to modify your custody orders?

Life may throw many circumstantial changes at you, maybe when you least expect it. You and your co-parent may have walked away from the divorce court with an agreeable set of child custody and parenting time orders, but might now find that the terms no longer suit your current parenting needs. If you are struggling to keep up with your original co-parenting plan, it may be time to modify your custody orders in court.

Before you proceed with the decision, keep in mind that a court will only modify custody orders based on the bests interests of your child. Consider whether your motivations for requesting a modification align with some of the most common reasons that qualify:

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