Attorney: Anna Gunderson
While your college kids are home for the holidays it's a great time to encourage them to put some just-in-case legal documents in place. When children turn 18 and become adults, their parents are unable to legally act on their behalf without court intervention or the individual's express written consent. Accordingly, you should consider having your adult children put two legal documents in place: a health care directive and a power of attorney.
As you may know, the federal Department of Labor ("DOL"), adopted new regulations for overtime pay that were to be effective December 1, 2016. Those regulations included a significant increase in salary for any employees whose duties qualified them for an exemption from overtime pay as either a professional, executive or administrative employee under the Fair labor Standards Act (FLSA).
On February 4, 2018, Minnesota will play host to the largest televised event of that year: Super Bowl LII. Minnesota and U.S. Bank Stadium will be on display. But behind the scenes, a complex framework of contracts for goods and services will allow millions of dollars in value to change hands in an orderly, predictable way. But where there are high volumes of contracts, there are also breaches of contract. One party fails to pay. Another party fails to deliver goods or services. A non-party to the contract takes the money or destroys the goods before they can be delivered. A host of things can go wrong.
While wealthy people can be accused of hiding assets during a divorce, it is not uncommon among other couples as well.