Category Archive: Firm News
- Jul. 26 2021
Digital Assets, Social Media, Accounts, and Passwords in Estate Planning
In today’s digital age, electronic devices, online accounts, and cloud storage are inescapable parts of every day life. The challenges and stay-at-home orders of Covid reinforced this reality even more over the past 17 months. Our lives are intertwined with … Read more
- Mar. 24 2020
Covid-19: We Are Fully Open for Business with Safety Modifications
LAST UPDATED: June 10, 2021 We are happy to report that as restrictions due to Covid-19 continue to be relaxed by government and health officials, Wokwicz Law Offices, LLC, has returned to holding in-person client meetings, while continuing to follow … Read more
- Dec. 10 2019
Beneficiary Designations – An Often Overlooked Part of Estate Planning
Creating a Wisconsin revocable trustA trustThe arrangement creating the legal ownership of assets by a trustee for the benefit of the Settlor and/or other beneficiaries. created during lifetime that can be terminated, amended, or modified by the person creating it. A Revocable TrustA trust created during lifetime that can be terminated, amended, or modified by the person creating it. A Revocable Trust is often used in Wisconsin to avoid probate and provide for the orderly and proper distribution of assets upon death of its creator and to provide for management of assets and property if the creator of the trust becomes incapacitated. is often used in Wisconsin to avoid probateThe court process proving the validity of a Will and conducting the orderly Inventory, Accounting, and Administration of a decedent’s assets under a Will or under Intestacy laws if there is no Will. The probate process in Wisconsin typically takes between six to twelve months in Wisconsin and can take longer in some cases. Probate can be avoided by proper Estate Planning and through the use of beneficiary designations, Transfer on Death Deeds, Marital Property Agreements and Trusts. and provide for the orderly and proper distribution … Read more
- Oct. 24 2019
Grandparent Gifting: The Right Way to Gift to Grandchildren
In our experience as estate planning attorneys, we know that grandparents love giving gifts to their grandchildren. For our clients able to make significant gifts to their grandchildren, they find it rewarding to help their grandchildren with educational expenses and … Read more
- Oct. 1 2019
Trustee Selection for Estate Planning
The importance of trusteeThe person or company named in a trustThe arrangement creating the legal ownership of assets by a trustee for the benefit of the Settlor and/or other beneficiaries. to manage property and assets of a trust. Usually a trustThe arrangement creating the legal ownership of assets by a trustee for the benefit of the Settlor and/or other beneficiaries. will name an initial trustee or co-trustees and successor trustees. A trusteeThe person or company named in a trust to manage property and assets of a trust. Usually a trust will name an initial trustee or co-trustees and successor trustees. A trustee has the duty to act in the best interest of the person for whom they are managing the funds and is considered a Fiduciary. Most people that set up Revocable Trusts to avoid probate, name themselves as Trustee and also name successor trustees to take over upon death or upon incapacity. has the duty to act in the … Read more
- Sep. 12 2019
Do I Need to Update My Estate Plan When I Move to Wisconsin?
In the USA, estate planningPlanning in advance of disability, incapacity, or death to make sure that key life issues have been addressed while the person is still of sound mind and able to understand and sign key documents such as Power of … Read more
- Jul. 18 2019
Estate Planning Elder Law Attorney: When to Contact?
As estate planningPlanning in advance of disability, incapacity, or death to make sure that key life issues have been addressed while the person is still of sound mind and able to understand and sign key documents such as Power of Attorneys, Power … Read more
- Jun. 24 2019
How Often Do I Need an Estate Plan Checkup?
As estate planning lawyers, we regularly get asked how often our clients should conduct an estate plan checkup. While we work to make sure that the estate plans that we draft for our clients have an extended life, there are … Read more
- May. 15 2019
Simple Will: Often Not Adequate Estate Planning
As estate planning lawyers, we often have clients contacting us for a “simple” Last Will and TestamentSee Will.. Sometimes a “simple will” can accomplish our clients’ goals. More frequently however, a simple willA written document that sets forth and names … Read more
- Apr. 8 2019
Trusts for Young and Minor Children: The Basics
In Wisconsin, trusts can provide a powerful tool for parents eager to protect and pass their assets to their children. More specifically, trusts for children bring the power and flexibility of trusts to bear when parents die before their children. … Read more