Estate planning is often overlooked until it is too late. Our recent article, Where There’s a Will, There’s a…Wait, discusses the negative effects of waiting too long to plan for the future. These include increased expense, court involvement, familial fighting, and your wishes being ignored. Gislason & Hunter has the knowledge and experience to mitigate...

Late Wednesday, January 13th, the SBA announced that banks with $1 billion in assets or less can start making Third Round PPP loans Friday, January 15th. Banks above that threshold will be able to start Tuesday, January 19th. CDFI institutions and minority-owned institutions started making loans the morning of Monday, January 11th. Thankfully, compared to...

A receivership is often labeled as the state court’s version of bankruptcy, though there are many differences between the two. The device of receivership is primarily a creditor’s remedy and is typically invoked in various circumstances including the collection of a money judgment, liquidation, and managing assets. A creditor is typically the party requesting the...

Medical Assistance, Minnesota’s version of Medicaid, provides more than 600,000 Minnesotans with coverage monthly.  Many of these individuals are seniors.  When looking forward to retirement, it is important to consider future health care needs as well as how such needs will be paid for.  This includes possible long-term care.  While private options, such as out-of-pocket...

As the economy enters into a recession and debtors’ assets are losing value, dwindling or disappearing, the doctrine of marshaling assets is appearing in more and more collection actions and appellate decisions.  The increased use of marshaling assets is also the result of land prices remaining high while other property values, such as equipment and...

A seriously dishonest or desperate borrower, even if relatively rare, can be the cause of the biggest losses a lender may face. Many loans are extended on the assumption that the bank has sufficient collateral—whether real estate, equipment, receivables, or other property—to repay the loan in the event the borrower cannot make his regular payments....

When Minnesota farmers divorce, often there are insufficient liquid assets to allow the non-farming spouse to be immediately paid in full for his or her fair share of the marital estate. When that happens, the non-farming spouse is often paid over a period of time—similar to a bank that loans money to a borrower. In...