Category: Attorney News
BGS Transportation Team Celebrates Another Successful Appearance at the Minnesota Trucking Association Annual Conference
September 14, 2022 | Carole Clark IsaksonAs it has for many years, BGS was a sponsor of the Minnesota Trucking Association’s annual conference, held this year at Arrowwood Resort in Alexandria. The conference is a great opportunity to connect with trucking companies and transportation officials in a relaxed and fun setting. Included in conference activities were golf and other social events, as well as educational sessions on business topics important to the industry. BGS sponsored the keynote speaker, David Horsager. David is CEO of Trust Edge Leadership Institute and inventor of The Enterprise Trust Index™, director of the annual study – The Trust Outlook™, and the bestselling author of The Trust Edge. He provided a dynamic and engaging presentation on the critical nature of trust in all business relationships. BGS’ own attorney Erik Ordahl had the opportunity to introduce this amazing keynote speaker. BGS Attorneys Jim Wills (a former long term MTA board member) and Carole Clark Isakson (a current board member of the MTA Foundation) introduced associate BGS attorney Erik Ordahl and BGS paralegal Rachel Schwankl to all things trucking, including the truck expo sponsored by Blaine Brothers. While most industries can field an interesting conference, we’re pretty sure that only a trucking conference features a parking lot exhibit of huge new trucks! If you can manage the…
Read MoreBusiness Owners: Think Twice Before Gifting Stock to Employees
September 24, 2021 | Carole Clark Isakson
I receive regular calls from small business owners that want to show appreciation to their hardworking employees by gifting shares in the company. Sometimes, the goal is to incentivize an employee to work harder and in other cases, the employer hopes to keep the employee long-term and feels the gift will help with this. I generally dissuade these owners from share transfers and suggest other ways to bonus employees based on profits. Why? Because an owner of shares, no matter how small, has rights in the company that can cause issues for the well-meaning employer. Minority shareholders in Minnesota have a variety of rights. For instance, minority shareholders in privately held corporations have the right to request and examine the share register, the records of all shareholders, and board proceedings over the past three years. This includes all articles, amendments, bylaws currently in effect, certain financial statements, reports made to shareholders within the last three years, names and business addresses of all directors and principal officers, voting trust agreements, shareholder control agreements, and other types of agreements. While providing these documents may not be difficult, many employers would rather not share this information. When an employee comes to their employer, and owns a share in the company, this information must be provided. In…
Read MoreNew Veterans Homes Slated for Fillmore County
August 19, 2021 | Barna, Guzy & Steffen, Ltd.
By Cathryn D. Reher, VA certified and Elder Law Attorney For years, the Minnesota Veterans Homes has sought funding to build additional campuses. There are currently four Minnesota Veterans Homes located in Minneapolis, Fergus Falls, Luverne, and Silver Bay. Finally, there has been movement with the projected development for a fifth facility in Preston, Minnesota. Most veterans are not aware that they and their spouses might be eligible for long-term care benefits through federal VA veterans benefits and/or the Minnesota Veterans Homes. I am a VA certified planner and have worked with Minnesota Veterans Homes for 25 years, assisting veterans and their spouses to understand the eligibility rules. I advise on the best approach to protect resources for veterans and their spouses in need of long-term care or wanting to plan as they age. One of the challenges that has been presented is the wait lists for Veterans Home admission. Thus, part of planning is to make sure that any plan around admission to each Veterans Home location also contemplate qualifying for medical assistance to pay for long term care. Medical assistance laws and policies are much trickier. It is critical any plan for the Veterans Homes also enable qualification or not adversely impact eligibility for medical assistance. Finding local counsel with the…
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