After a major life change, a woman named Sarah meets with an attorney at WFJ and updates her will. Her new estate plan clearly states that she wants her assets divided equally between her two adult children.

She leaves the meeting feeling like everything is taken care of.

But there’s a problem.

Years earlier, Sarah named on of her children as the sole beneficiary of a large life insurance policy. She also has a retirement account with an old beneficiary designation that was never updated. When Sarah dies, her family discovers an important estate planning lesson: changing your will doesn’t necessarily change where all of your assets go.

You Will Doesn’t Control Everything You Own

Some assets are generally distributed through your will and estate. Others may transfer according to a beneficiary designation, account agreement, ownership arrangement, or other mechanism.

Common examples of assets that may have beneficiary designations include:

• Life insurance policies
• 401(k)s and other retirement plans
• IRAs
• Annuities
• Health savings accounts
• Certain investment or financial accounts

That means a beautifully drafted, recently updated will can say one thing while a beneficiary designation says something completely different.

In Sarah’s case, simply writing “divide my estate equally between my children” in her will may not result in every asset being divided 50/50.

Primary vs. Contingent Beneficiaries

There’s another detail that can easily be overlooked.

A primary beneficiary is generally the first person or entity designated to receive an asset. A contingent beneficiary is typically next in line if the primary beneficiary cannot receive it.

What happens if you never name a contingent beneficiary? Or if both beneficiaries dies before you?

The answer may depend on the account, plan documents, financial institution, and applicable law. The asset may ultimately be payable to your estate or another default beneficiary-which may not be what you intended.

Estate Planning is Also Asset Planning

This is why creating an estate plan shouldn’t stop with signing a will.

A thorough review should also ask:

What do I own, how is it titled, and what actually happens to each asset when I die?

For someone like Sarah, that could mean reviewing her will alongside her retirement accounts, real estate ownership, and existing beneficiary designations. The goal isn’t simply to have the right documents. It’s to make sure the different pieces of your financial life work together to accomplish what you intended.

How WFJ Can Help

Wagner, Falconer & Judd can help clients look beyond the document itself and consider how their broader estate plan fits together. Whether you’re creating a plan for the first time or reviewing one you’ve had for years, an estate planning attorney can help identify questions you may not have realized you needed to ask.

Already have a will? Your next step may be making sure the rest of your estate tells the same story.

This article provides general education information and is not legal advice. Estate and probate laws vary by state and individual circumstances. 

When most people hear the words estate planning, their minds immediately go to money.

Who gets the house? Who inherits the savings? How are assets divided?

While those are certainly important questions, they are only part of the story.

At its core, estate planning is about protecting the people you care about and making important decisions before someone else has to make them for you. Whether you’re 25 or 75, married or single, a homeowner or just starting your career, having an estate plan can provide clarity and peace of mind for both you and your loved ones.

Estate Planning is More Than Just a Will

A will is often the foundation of an estate plan, but it isn’t the only document that matters.

Depending on your circumstances, a comprehensive estate plan may also include:

A Financial Power of Attorney, allowing someone you trust to manage your financial affairs if you become unable to do so.

A Healthcare Power of Attorney or Healthcare Directive, naming someone to make medical decisions on your behalf if you’re unable to communicate your wishes.

A Living Will or Advance Healthcare Directive, outlining the types of medical care you would or not want in certain situations.

Beneficiary designations on life insurance policies and retirement accounts, which should be reviewed regularly to ensure they reflect your current wishes.

Each document serves a different purpose, but together they help create a clear plan for your future.

Estate Planning Isn’t About Your Age-It’s About Your Life

One of the most common misconceptions is that estate planning is only for retirees or people with substantial wealth. In reality, every adult can benefit from having a plan.

You may want to consider creating or updating your estate planning documents if you’ve recently:

• Gotten married or divorced
• Had or adopted a child
• Purchased a home
• Started or sold a business
• Experienced a significant change in your finances
• Lost a loved one
• Retired or are preparing for retirement

Major life events often mean your existing documents no longer reflect your current wishes.

What Happens Without an Estate Plan?

If you pass away without a valid will, state law-not you-generally determines how your assets are distributed. While those laws are designed to provide a framework, they may not align with your personal wishes or family circumstances.

Without proper planning, your loved ones may face:

• Delays while your estate moves through the probate process
• Additional legal expenses and administrative costs
• Uncertainty about who should manage your affairs
• Difficult decisions during an already emotional time
• Potential disagreements among family members over what you would have wanted

Estate planning helps reduce those uncertainties by providing clear instructions and identifying the people you trust to carry out your wishes.

One of the Greatest Gifts You Can Leave Behind

The value of an estate plan isn’t measured by the size of your estate.

It’s measured by the clarity it provides.

By taking the time to put your wishes in writing, you’re helping your loved ones avoid unnecessary stress, confusion, and difficult decisions. You’re also ensuring that important healthcare and financial decisions can be made by the people you trust if you’re ever unable to make them yourself.

In many ways, estate planning is one of the most thoughtful gifts you can leave behind.

Make This the Month You Get Started

Make a Will Month is a great opportunity to review your current estate plan-or create one if you haven’t already.

If you’re a LegalShield member, preparing a will is one of the valuable benefits included with your membership. If it’s been several years since you reviewed your documents, or if you’ve experienced a major life change, now is a great time to revisit your plan.

Estate planning isn’t about preparing for the worst.

It’s about protecting the people you love, making your wishes known, and giving your family the confidence and clarity they’ll appreciate when it matters most.

Opening your mailbox or email to find a demand letter can be unsettling. Whether it’s from an attorney, a business or other individual, it’s natural to wonder: What does this mean? Am I being sued?

The good news is that receiving a demand letter doesn’t necessarily mean you’re heading to court. In many cases, it’s the first step toward resolving a dispute before litigation becomes necessary.

First, Don’t Panic

A demand letter is exactly what it sounds like-a formal request that asks you to take a specific action. It may demand payment, request that you stop certain conduct, ask you fulfill a contract, or propose another resolution to a disagreement.

While it should be taken seriously, a demand letter is not the same as a lawsuit. 

Don’t Ignore It

One of the biggest mistakes people make is assuming the issue will simply go away if they don’t respond. Ignoring a demand letter can limit your options escalate the dispute, or strengthen the other party’s position if the matter eventually ends up in court. Even if you believe the claims are inaccurate or exaggerated, it’s important to understand what is being alleged and what deadlines, if any, may apply.

Take Time to Gather Information

Before responding, collect any documents or information related to the issue, such as:

• Contracts or agreements
• Emails or text messages
• Invoices or receipts
• Photos or other evidence
• Notes about what happened and when

Having the full picture makes it much easier to evaluate your options.

Avoid Responding Emotionally

It’s understandable to feel frustrated or defensive, but firing off an angry email or making admissions before understanding your legal position can make matters worse.

Instead, take a step back and make sure you understand your rights and obligtations before responding.

Know Your Options

Not every demand letter requires the same response. Depending on the circumstances, your options may include:

• Responding with additional information or clarification
• Negotiating a resolution
• Challenging the claims being made
• Taking no action if appropriate under the circumstances
• Preparing for the possibility of further legal action

The right approach depends on the facts of your situation.

When Should You Contact an Attorney?

If the demand letter involves a significant amount of money, alleges legal wrongdoing, threatens litigation, or you’re simply unsure how to respond, it’s worth speaking with an attorney as soon as possible.

An attorney can review the letter, explain what it means, evaluating the claims being made, and help you determine the most effective response. In many situations, early legal guidance can help resolve a dispute before it becomes more costly and time-consuming.

The Bottom Line

Receiving a demand letter can feel intimidating, but it doesn’t automatically mean you’re being sued-or that you’ve run out of options. Take it seriously, gather your information, avoid reacting emotionally, and seek legal advice if you’re unsure of your next steps. Responding thoughtfully and proactively can often make all the difference.

Need help understanding a demand letter? The attorneys at Wagner, Falconer & Judd can review your situation, explain your options, and help you determine the best path forward before the dispute escalates.

Workforce reductions are never easy. They also come with significant legal obligations that continue to evolve.

Beginning July 18, 2026, Nebraska employers planning certain layoffs or business closures will need to comply with the state’s new Nebraska Worker Adjustment and Retraining Notification (Mini-WARN) Act. The law creates new notice requirements that emploeyrs should build into any reduction-in-force planning.

Here’s what employers should know.

Who Does the Law Apply To?

Nebraska’s Mini-WARN Act applies to employers with 100 or more employees, excluding certain part-time employees.

For purposes of the law, a part-time employee generally means someone who:

• Works an average of 19 hours or fewer per week, or
• Has been employed for fewer than six of the previous 12 months

When Is Notice Required?

Covered employers must provide 90 days’ advance written notice before certain:

• Business closings
• Mass layoffs

A business closing generally occurs when there is a permanent or temporary shutdown of a single employment site-or one or more facilities or operating units within that site-that results in an employment loss for 100 or more employees (excluding part-time employees).

A mass layoff generally occurs when a reduction in force, not resulting from a business closing, causes an employment loss at a single employment site during any 30-day period for 100 or more employees (excluding part-time employees).

The law also includes a 90-day aggregation rule. 

That means employees planning layoffs in stages should not assume each round can be evaluated separately. If employment losses over a 90-day period meet the legal definition of a business closing or mass layoff, notice requirements may still apply.

What Must Be Included in the Notice?

Employers must provide written notice to both affected employees and the Nebraska Department of Labor.

The notice must include:

• Employment site name and address
• Company contact information
• Whether the action is permanent or temporary
• Expected dates and schedule of employment losses
• Job titles and names of affected employees
• Copies of applicable employee handbooks, personnel policies, and employment-related policies-or instructions on where those documents can be accessed online

In addition, employers must post the notice in conspicuous location in any language spoken by at least 5% of the workforce. 

Are There Any Exceptions?

Yes-but they are limited.

Nebraska’s Mini-WARN Act recognizes exceptions for circumstances such as:

• Unforseeable business circumstances
• Natural disasters
• Certain business closings where the employer was actively seeking capital or business

If an employer relies on one of these exceptions, it must still explain why the full 90-day notice period could not be provided.

The law also allows employers to reduce the notice period by providing severance payments or wages in lieu of notice, provided those payments equal at least the compensation employees would have earned during the shortened period.

What Employers Should Do NOW

Even employers who rarely conduct workforce reductions should review their internal procedures before the need arises.

Consider:

• Updating reduction-in-force planning procedures
• Identifying who will prepare required notices
• Reviewing access to employee handbooks and policies
• Determining whether the language translation requirements apply
• Consulting legal counsel early in the planning process

The biggest takeaway is simple: Don’t wait until layoffs are imminent to begin your legal analysis. 

Early planning gives employers more flexibility, reducing compliance risk, and helps ensure difficult workforce decisions are handled appropriately.

WFJ’s Employment Law team and Compliance Center help employers navigate workforce changes before legal issues become business problems.

The best collection strategy starts before the first invoice is sent.

When an account becomes past due, it’s natural to focus on collections. But in the construction industry, many of the strongest collection tools-such as mechanic’s liens and payment bond claims-are either preserved or lost long before payment ever becomes an issue.

The decisions made during the credit approval process can have a significant impact on your ability to recover payment later. Asking a few key questions upfront can help protect your rights, reduce risk, and strengthen your position if a dispute arises.

Here are five questions every credit professional should ask before extending credit on a construction project.

Is this a Public or Private Project?

This is one of the most important questions you can ask because it determines which legal remedies may be available if payment problems arise.

On many private projects, qualified contractors, subcontractors, and suppliers may have mechanic’s lien rights, subject to state law and applicable notice requirements.

On public projects, mechanic’s liens generally are not available. Instead, payment may be secured through a statutory payment bond, which comes with its own notice requirements and deadlines.

Knowing the project type from the beginning allows your credit team to preserve the appropriate rights before critical deadlines pass.

Where is the Project Located?

Construction law is governed by state law, and no two states treat lien and bond rights exactly the same.

Deadlines, notice requirements, eligible claimants, and filing procedures can vary significantly depending on where the project is located.

If your company supplies projects in multiple states, relying on a “one-size-fits-all” process can create an unnecessary risk. Understanding the governing state’s requirements early allows your team to track the correct deadlines from day one.

Where Does Your Customer Fit in the Contracting Chain?

Understanding who hired your customer-and who owns the project-can be just as important as understanding who owes you money.

Questions to ask include:

• Is your customer the general contractor?
• Are they a subcontractor?
• Are they a lower-tier subcontractor?
• Are you supplying materials directly to another supplier?

Your position within the contracting chain may affect whether lien rights or bond rights are available and what notices may be required to preserve them. When extending credit, gathering this information up front is often much easier than trying to reconstruct it months later.

Are Lien or Bond Rights Available?

Not every construction project gives rise to the same legal remedies.

Depending on the project and your role, you may have access to:

• Mechanic’s lien rights
• Payment bond claims
• Other statutory remedies available under applicable law

Understanding which remedies may be available allows your organization to make informed credit decisions, and if necessary, involve legal counsel before important rights expire.

Have You Started Tracking Your Deadlines?

One of the most common reasons companies lose valuable collection rights isn’t because they had a weak claim-it’s because a deadline was missed. 

As soon as credit is approved, establish a system to track key dates, such ask:

• First furnishing of labor or materials
• Required preliminary notices
• Last furnishing date
• Lien or bond claim deadlines
• Applicable lawsuit deadlines

Waiting until an invoice reaches 60 or 90 days past due may leave little time to preserve your legal options. A well-maintained calendar can be just as valuable as a well-written contract. 

Proactive Credit Management Creates Stronger Collections

Credit professionals aren’t expected to know every nuance of construction law. However, understanding the right questions to ask before extending credit can help preserve valuable rights that may significantly improve collection outcomes if payment issues arise.

By identifying the project type, confirming the project location, understanding the contracting chain, evaluating available remedies, and tracking deadlines from the outset, your credit department is better positioned to protect both receivables and cash flow.

The strongest collection strategies begin long before an account becomes delinquent. 

How Wagner, Falconer & Judd Can Help?

Construction collections often require quick action and careful attention to statutory deadlines. Our attorneys work with credit departments, suppliers, distributors, and lenders to help preserve lien and bond rights, evaluate collection options, and develop practical strategies for recovering outstanding balances.

Whether you’re extending credit on a new project or addressing a past-due account, proactive legal guidance can help protect the remedies available to your business.

The best collection strategy starts before the first invoice is sent. 

If your business doesn’t currently offer a retirement savings plan, there’s another employment compliance requirement to add to your radar.

The Minnesota Secure Choice Retirement Program (“Secure Choice”) is now open for employer registration. Begining in 2026, many Minnesota employers need to either register for the program or certify that they’re exempt.

The good news? While employers have responsibilities under the program, they are not responsible for funding employee retirement accounts or managing investments. 

Here’s what employers should know.

What is Minnesota Secure Choice?

Secure Choice is a state-established automatic payroll deduction IRA program designed for employees who don’t have access to a workplace retirement plan. The program allows eligible employees to save for retirement through payroll deductions.

Employers are not required to make matching contributions, and there are no employer fees associated with the program. Employers may still experience some administrative costs related to payroll setup and ongoing administration.

Which Employers Are Covered?

Your business must participate if you:

• Have five or more employees, and
• Do not currently offer (or have not offered within the previous 12 months) a qualified retirement savings plan.

If you already offer a qualified retirement plan, you are generally exempt-but you must certify that exemption through the Minnesota Secure Choice portal.

Certain employees are excluded from the program, including:

• Government employees
• Employees who were under age 18 on December 31 of the previous calendar year
• Certain temporary or seasonal employees hired for 180 days or less

Registration Deadlines

Registration occurs in phases based on employer size. Employers should receive notice from Minnesota Secure Choice when it’s time to register.

Current deadlines include:

• Voluntary enrollment (any size covered employer) Deadline: March 30, 2026
• 100+ covered employees Deadline: June 30, 2026
• 50-99 covered employees Deadline: December 31, 2026
• 25-49 covered employees Deadline: June 30, 2027
• 10-24 covered employees Deadline: December 31, 2027
• 5-9 covered employees Deadline: June 30, 2028
• 4 or fewer employees Exempt

If your business has 100 or more covered employees, now is the time to confirm you’ve either registered or certified your exemption. Even if your deadline is later, it’s worth coordinating with your payroll provider now to avoid a last-minute scramble.

How Employee Contributions Work

Secure Choice is funded entirely through employee paryroll deductions.

Employer contributions are not permitted.

Unless an employee chooses a different option or opts out, payroll deductions:

• Begin at 5% of pay
• Increase automatically by 1% each year
• Cap at 8%

Employees may:

• Opt out
• Choose a different contribution percentage
• Stop contributions later, following the program procedures

Contributions generally go into a Roth IRA unless the employee elects a traditional IRA.

Employees are always fully vested in their accounts.

Employer Responsibilities

Although employers aren’t managing retirement investments, they are responsible for administering the program.

This includes:

• Registering or certifying an exemption
• Enrolling eligible employees
• Processing payroll deductions
• Maintaining employee and payroll information
• Keeping records up to date

What Happens if an Employer Doesn’t Comply?

Minnesota law includes penalties for employers who fail to meet their obligations.

After the applicable warning period, employers that fail to enroll covered employees or begin required payroll deductions may face penalties beginning at $100 per covered employee, with higher penalties possible in later years.

Employers should pay particular attention to withheld employee contributions.

If payroll deductions are taken from employee paychecks but are not remitted on time, employers may be required to:

• Submit the withheld contributions
• Pay applicable interest

A willful and intentional failure to remit withheld contributions after demand may also result in misdemeanor penalties.

Getting Ready

When your registration window opens, you’ll need to:

• Register using your company’s EIN and Secure Choice Access Code
• Connect your payroll provider or upload payroll schedules
• Add banking information
• Upload eligible employee information

After registration:

• Minnesota Secure Choice communicates directly with employees during their 30-day election period.
• Employers then begin payroll deductions for participating employees.
• Employers continue submitting payroll contributions and maintaining employee records.

Don’t Wait Until Your Deadline

Like many new employment laws, Minnesota Secure Choice is designed to become part of your normal HR and payroll processes. Businesses that prepare early generally experience a smoother rollout.

Whether you’re determining if you’re covered, coordinating with your payroll provider, or simply making sure your compliance processes are current, it’s easier to address these questions before your registration deadline arrives.

WFJ’s Employment Law team and Compliance Center help employers stay ahead of changing workplace requirements so compliance becomes part of doing business-not a last-minute emergency. 

For most credit departments, Days Sales Outstanding (DSO) is one of the first metrics leadership looks at when evaluating accounts receivable performance.

And for good reason.

DSO provides a useful snapshot of how quickly a company converts sales into cash. But focusing soley on DSO can sometimes mask a much larger issue lurking beneath the surface: the true cost of slow-paying customers.

Every overdue invoice carries a cost. While those costs may not always appear on a balance sheet, they impact cash flow, operational efficiency, profitablity, and ultimately a company’s ability to grow.

The most succesful credit and finance leaders understand that delinquency isn’t simply an accounts receivable problem-it’s a business problem.

The Cost of Carrying Delinquent Accounts

When a customer extends payment terms from 30 days to 60, 90, or even 120 days, many organizations view it as an inconvenience.

In reality, every additional day an invoice remains unpaid ties up working capital that could be used elsewhere.

That capital may have been intended to:

• Purchase inventory
• Fund expansion initiatives
• Invest in new equpiment
• Support payroll obligations
• Reduce borrowing needs
• Improve overall liquidity

The longer receivables remain outstanding, the longer your organization effectively finances your customer’s business operations.

Cash Flow Challenges Extend Beyond the Credit Department

Late payments don’t just affect accounts receivable metrics. They influence broader business decisions.

Organizations experiencing slower collections may find themselves:

• Drawing more heavily on lines of credit
• Delaying capital investments
• Reducing operational flexibility
• Increasing borrowing costs
• Facing greater cash flow uncertainty

For finance leaders, this creates a ripple effect throughout the organization.

A customer who pays 90 days later may appear manageable on paper. But when multiple customers follow the same pattern, the cumulative impact can strain even healthy businesses.

The challenge isn’t simply collecting money-it’s maintaining predictable cash flow.

The Administrative Cost Nobody Talks About

One of the most overlooked costs of delinquency is the amount of internal time spent managing overdue accounts.

Consider what happens when an account becomes seriously delinquent:

• Collection calls increase
• Follow-up emails multiply
• Payment promises must be tracked
• Documentation requests becomes more frequent
• Internal meetings consume additional resources
• Disputes require investigation and resolution

For many credit professionals, a small percentage of customers consumes a disproportionate amount of their time. And that time has value.

Every hour spent chasing an account that has little intention of paying is an hour that cannot be spent on:

• Credit analysis
• Risk management
• Customer relationship development
• Process improvements
• Strategic planning

Eventually, delinquent accounts begin creating operational costs that exceed the orginal value of the relationship.

When Slow Paying Customers Become Unprofitable Customers

Many businesses evaluate customer profitability based on sales volume and gross margin. But profitability calculations often fail to account for collection costs.

A customer generating significant revenue may appear valuable until you factor in:

• Repeated collection efforts
• Internal administrative expenses
• Increased borrowing costs
• Legal expenses
• Write-off risk
• Managemement time spent resolving disputes

At some point, a customer can become more expensive to service than they are worth.

The goal isn’t necesarily to stop doing business with challenging customers. Rather, it is to understand the true cost of maintaining those relationships and adjust your strategy accordingly.

The Cost of Waiting Too Long

One of the most common challenges we see is organizations delaying escalation in hope that an account will eventually resolve itself.

Sometimes it does. Often, it doesn’t.

The reality is that collection options tend to decrease as delinquency ages.

As time passes, businesses may face:

• Diminished leverage
• Lost documentation
• Expired lien rights
• Increased bankruptcy risk
• Reduced recovery opportunities
• Larger write-offs

Many companies view legal intervention as a last resort. In practice, strategic legal involvement often works best before an account reaches crisis status.

Legal Intervention is About More Than Litigation

There is a common misconception that involving an attorney automatically means filing a lawsuit. In reality, experienced commercial collections attorneys can often help businesses evaluate options, preserve rights, and create leverage before litigation becomes necessary.

Depending on the situation, legal involvement may include:

• Demand letters
• Contract analysis
• Review of guarantees and security interests
• Lien and bond claim evaluation
• Negotiation support
• Recovery strategy development

When viewed through that lens, the true cost of slow-paying customers becomes much easier to quantify. And once you understand that cost, you can make more informed decisions about when to continue internal collection efforts and when escalation makes business sense.

Simplify the Complex

Credit professionals play a critical role in protecting cash flow and managing business risk. But even the strongest internal collection processses have limits.

Working with experienced commercial collections counsel can help organizations identify risks earlier, preserve recovery options, and improve collection outcomes before delinquent accounts become write-offs. Because knowing the cost of delinquency helps determine when it’s time to escalate.

At Wagner, Falconer & Judd, we help businesses simplify the complex through strategic commercial collections, creditor rights, and recovery solutions designed to protect what you’ve earned.