Category Archive: Firm News
- Jan. 29 2018
Marital Trusts: Deciding When to Update
In recent years, there have been significant estate taxThe Federal tax that is imposed on transfer of assets at death, especially to non-spouses. The current Federal Estate TaxThe Federal tax that is imposed on transfer of assets at death, especially to non-spouses. The current Federal Estate Tax, simply speaking, is for assets in excess of 5.34 million dollars for the year 2014. There is not currently an estate tax in Wisconsin, but approximately 20 other states still have some form of estate tax., simply speaking, is for assets in excess of 5.34 million dollars for the … Read more
- Dec. 8 2017
Divorce and Your Trust in Wisconsin
In Wisconsin, divorce raises significant challenges for both revocable and irrevocable trusts. Failure to address issues raised by divorce proceedings will often result in unfavorable or undesirable outcomes. In the third of our series about how divorce effects estate planningPlanning … Read more
- Nov. 13 2017
Divorce and Your Last Will and Testament in Wisconsin
In Wisconsin, divorce can significantly modify your 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 … Read more
- Oct. 19 2017
Divorce and Power of Attorney in Wisconsin
Divorce has an enormous impact upon your Wisconsin 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 … Read more
- Sep. 22 2017
What is a Wisconsin Trust Protector?
A trustThe arrangement creating the legal ownership of assets by 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. for the benefit of the SettlorThe person or persons who create a trust. This person is often also called a Grantor. and/or other beneficiaries. protector is a person or company with the power to perform duties over a trustThe arrangement creating the legal … Read more
- Aug. 31 2017
Irrevocable Life Insurance Trust: A General Procedural Outline
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
- Aug. 22 2017
Wisconsin’s Transfer on Death Deed
Wisconsin’s Transfer on Death Deed (TOD Deed) allows for the non-probate transfer of real property upon death. This seemingly simple law, Wisconsin Statute 705.15, can be used as a powerful estate planningPlanning in advance of disability, incapacity, or death to … Read more
- Jul. 14 2017
Avoiding Guardianship: The Importance of Power of Attorneys
Our 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. 16 2017
Last Will and Testament Only Based Plan
A Last Will and TestamentSee WillA written document that sets forth and names the personal representative who will be in charge of overseeing the probate process and names the specific bequest and residual beneficiaries of property who are to receive and inherit assets and property through probate. A Will does not avoid probate, and must be properly drafted and executed to be legal. A Will can also avoid the use of a surety bond in many instances and can help utilize an “informal” Wisconsin probate process if it has the proper clauses and attestation clause.. More Only Based Plan provides the simplest and least expensive approach for estate planning. Rarely an adequate plan by itself, this Will Only Plan provides more protection and control than no plan at all. However, … Read more
- Jun. 2 2017
Estate Planning Categories: An Overview
When people first meet with 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 … Read more