2015 April

Tangible Personal Property Lists

04.16.2015
|
Comments off
|

Using Tangible Personal Property Lists

Creating a Will is a crucial tool in planning for you and your family’s future. Wills are important to control where your assets will go upon death, to name the person who will care for your property or children, and to state your general wishes regarding funeral arrangements. Once created, amending or changing a Will normally requires a formal amendment document called a Codicil. In Minnesota, however, there is also a more simple way to make or update specific personal property gifts: the tangible personal property list.

What is a Tangible […]

Interest Rates in Contracts – What Contractors Need to Know About Usury Laws

04.9.2015
|
Comments off
|

What are Usury Laws?

Usury laws are designed to protect consumers from excessive interest rates on loans and other types of credit. Whether your contract allows for payments over time or simply includes a late fee for overdue payments, usury laws determine the maximum amount of interest you can charge. For most contracts in Minnesota, the interest rate for any debt must not exceed 6% unless a different rate is contracted for in writing. Even for written contracts, however, the rate cannot exceed 8%. There are exceptions to this rule, such as for contracts for more than $100 […]