What To Do When Your Aircraft’s Owner Trustee Resigns

October 2017

There are many reasons why your aircraft may be owned in trust. Some lenders prefer to secure their loans with United States Federal Aviation Administration (FAA) registered aircraft and take a pledge of a trust interest. Some aircraft are placed into trust for estate planning purposes. Perhaps the most common reason is that the FAA… Read more >

Minnesota Agricultural Credit Issues Conference

August 2017

The Minnesota Agricultural Credit Issues Conference, hosted by the Cooperative Network, will explore the latest on credit and economic related issues and how this affects cooperatives and their members. Jared Peterson, Shareholder and head of FMJ’s Agricultural practice group, will speak on the topic of “Collecting from a Difficult Debtor” on Thursday, September 21, 2017…. Read more >

The IRS Steps Back on FET for Managed Aircraft Services

August 2017

Two developments are signaling a shift in the position of the Internal Revenue Service (IRS) on subjecting managed aircraft services to federal excise taxes.  As Special Agent Dale Cooper of Twin Peaks fame would say, “When two things happen simultaneously pertaining to the same object of inquiry we must pay special attention.” First, in a… Read more >

The FAA’s Jurisdiction Over Hobby and Recreational UAS Use is Pared Down

August 2017

Before the seemingly ubiquitous modern presence of drones in our lives, decades had passed with model aircraft users flying their model aircraft and coexisting with manned aircraft in relative peace. On June 9, 1981, the FAA issued Advisory Circular AC 91-57 in which it “outline[d], and encourage[d] voluntary compliance with, safety standards for model aircraft… Read more >