4th Quarter Review – An Estate Planning Checklist
While I thoroughly enjoy football, I have no idea how to plan the game winning play. What I do know is that we are in the fourth quarter of the calendar year and it is time to consider your personal game plan. During the past 20 months, many of us have had to unintentionally evaluate our personal game plan due to the onset of medical issues, staying at home, changes in jobs or just general changes. I am optimistic that rather than looking at every situation through the lens of a crisis, we should take a breath, and be more strategic with our personal planning. As practitioners, we have been responding to clients, on an almost daily basis, who have been confronted with emergency planning situations or are considering the “what if” or “what happens if the unthinkable occurs.” If you have not reviewed your game plan in a while, this is the right time to make sure everything is in order.
Update on the Minnesota Peacetime Emergency
Pursuant to Minnesota Executive Order 20-12, Governor Walz has extended the peacetime emergency through April 14, 2021. With the extension of the peacetime emergency, all executive orders tied to the emergency have also been extended, including the eviction moratorium, current rules for businesses, and a prohibition on price gouging. For a summary of each of Governor Walz’s COVID-19 Executive Orders, along with an indication of those that remain in effect
Foreclosure Redemption Period in Light of New Bill
In response to the Covid-19 pandemic, the Minnesota legislature passed a bill, HF4556/SF 4462, in April 2020 signed by Governor Tim Walz the following day. The bill extends numerous deadlines that would otherwise apply, but for the pandemic, such as the next language found in Article I, Section 16
Reopening Minnesota Phase III
Minnesota has entered Phase III of a four-phase plan to reopen the state, issuing Executive Order 20-74 on June 5, 2020. This order allows Minnesotans to participate in additional activities, increases the size of permissible gatherings, expands capacity and allows indoor service for bars and restaurants, and more. To view all the new permitted activities, you can refer to the order (Executive Order 20-74) or the Stay Safe Minnesota website (Stay Safe MN) chart. With the extension of the peacetime emergency on June 12, 2020, the requirements within Governor Walz’s Executive Orders for Minnesotans, including businesses and residents, will remain in effect until July 12, 2020, with possible modifications by further order.
Timeline for rental properties: Getting back to “Normal”
When Governor Tim Walz issued Executive Order 20-14 on March 23, 2020, placing a moratorium on specific actions by owners and managers of residential rental properties, it was much clearer what conduct was allowed and prohibited during the peacetime emergency. Since that time, Minnesota Executive Orders, the Federal CARES Act, Minnesota Court Orders, and Minnesota legislation have made it more challenging to determine what options owners and managers have related to managing their properties during the COVID-19 pandemic.
A Step Toward Reopening Minnesota
Governor Tim Walz issued a number of Executive Orders related to the COVID-19 pandemic this week, including Executive Orders 20-53 and 20-56. Governor Walz has issued fifty-seven Executive Orders since the peacetime emergency was declared for the State of Minnesota on March 13, 2020. For a summary of each of Governor Walz’s COVID-19 Executive Orders
Reopening Your Business: COVID-19 Preparedness Plan
Governor Tim Walz issued Executive Order 20-56 on May 13, 2020, extending the stay-at-home order and providing for the reopening of certain “non-critical” businesses and outdoor recreational activities and facilities. For more information on Executive Order 20-56.
Breaking down the recently-enacted Coronavirus Aid, Relief, & Economic Security Act
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act is a $2 trillion stimulus package recently signed by President Trump aimed at shoring up the U.S. economy. At the same time, it navigates the worst of the COVID-19 pandemic. Much of the media attention has been concerned with the individual aid measures to provide an infusion of cash through direct payments and expanded unemployment insurance, small and large businesses in the form of loans, grants, tax deferments, and other measures.
Expanded Retaliation Defense: A new hurdle to evicting tenants
In recent judicial news, there has been a significant change to landlord-tenant law in Minnesota. Last month the Minnesota Supreme Court in Central Housing Associates, LP v. Olson, issued a ruling creating brand new common law for tenants to utilize in defense of eviction actions.
The pitfalls associated with Letters of Intent
Outlining the basic terms of a real estate transaction in a letter of intent can help prevent future disagreements between parties — it can also lead to them. When this type of document is incomplete, self-contradicting, or up for interpretation, problems often arise. The most significant is confusion as to whether the letter is binding or non-binding. While one party may see the document as a simple guideline designed to build momentum towards a final deal, the other party may believe the terms in a letter of intent are set in stone.