When someone is appointed as an executor, guardian, trustee, or administrator of an estate, they take on a significant financial and legal responsibility. Managing someone else’s assets (whether distributing an inheritance, overseeing financial affairs, or ensuring proper care for a minor or incapacitated adult) requires accountability, integrity, and adherence to…
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The Minnesota Judicial Branch has recently made several updates to its MyMNConservator (MMC) online application, a tool used by conservators to file inventory and annual accountings electronically. Originally launched in 2014, MMC is designed to simplify the reporting process for conservators and improve transparency and accuracy in managing finances for…
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Surety bonds can be a complex as they are filled with industry-specific legal terms that may confuse anyone unfamiliar with the field. However, anyone involved in a surety bond agreement—whether you are a business owner, a contractor, or a person who will be managing a conservatorship or guardianship—should at least…
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As of April 15, 2024, a significant update to the Minnesota guardianship statutes has been enacted, affecting all guardians in the state of Minnesota. This new regulation mandates that guardians must file annual Personal Well-Being Reports and Affidavits of Service using the MyMNGuardian (MMG) online application. About the Statute Update…
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Serving as a representative payee for a veteran in Minnesota is a significant responsibility, as they play an essential role in managing and distributing funds when a beneficiary is unable to handle their own finances due to age, disability, or other factors. This role goes beyond simply managing the money—it…
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When you’re appointed as a guardian, your responsibility is to care for another person. This role includes making decisions on their behalf and managing their affairs effectively. But what happens when you need to manage guardianship from another state, or when circumstances require the guardianship to be transferred entirely to…
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When you become a representative payee, you take on a critical financial responsibility in someone’s life. Accepting the position means you’re in charge of managing the Social Security or Supplemental Security Income (SSI) benefits of someone who cannot manage their finances due to health issues or age-related reasons. What does…
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For any business, managing risks effectively is crucial to ensure stability and growth. An essential component of this risk management is commercial insurance. It’s an expenditure you must make to mitigate risk in your business. Sometimes it’s mandatory; sometimes it’s just something that makes sense for your business. How do…
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Navigating the world of estate planning can be complex, but understanding the concept of a living trust is essential for anyone looking to manage their assets effectively. Creating a living trust can inevitably become a major part of planning your estate, but it’s not always the best path to take.…
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Business and technology have always gone hand in hand, but there’s never been a time in history where they’ve been more inseparable. Nearly every facet of modern businesses is interwoven with some sort of IT system, which presents inherent risks—especially for small businesses who can’t adequately mitigate those risks. This…
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