Category Archive: Firm News
- Jan. 19 2017
No-Contest Clause: A Practical Definition
A no-contest clause is also referred to as an in terrorem clause and as a “penalty clause” in Wisconsin. At its simplest, it is a clause in a last will and testament, trust, or other “governing instrument” that provides a … Read more
- Dec. 15 2016
The Greatest Wealth Transfer in History
The Greatest Wealth Transfer, according to the Boston College Center on Wealth and Philanthropy, has already begun. Through estates, heirs are expected to receive over $30 trillion in inheritance before 2061. Add charities and government to the list of wealth … Read more
- Nov. 30 2016
Estate Plan Review: When Do I Need One?
As estate planning lawyers, we are regularly asked “When do I need to do an estate plan review?” When we draft an estate plan for a client, we attempt to draft with an eye towards the future so that frequent … Read more
- Nov. 1 2016
Marital Property Agreement: Funding a Revocable Trust Without Probate
In Wisconsin,a marital property agreement enables married couples to fund a trust at death while avoiding the need for probate. Unfortunately, this entitlement applies only to married people as it is part of Wisconsin’s Marital Property Code. Nonetheless, it offers a powerful estate … Read more
- Sep. 13 2016
Tangible Personal Property Distribution
Failure to plan for the distribution of tangible personal property often results in unnecessary conflict and hard feelings among children and other beneficiaries. While tangible personal property normally does not make up a significant percentage of a deceased person’s estate … Read more
- Aug. 26 2016
Care Agreement Contract
A Care Agreement Contract is basically a contract with one person, often an adult child, agreeing to provide care services to a parent or disabled person in need of care services. Care agreement contracts are commonly referred to as Personal … Read more
- Jul. 12 2016
Why You Should Have a Durable Power of Attorney
As estate planning attorneys, we strongly recommend that our clients have a properly drafted General Durable Power of Attorney and a Power of Attorney for Health Care. Along with a Last Will and Testament or Trust, these Power of Attorney … Read more
- Jun. 28 2016
A Last Will and Testament Does Not Avoid Probate
A Last Will and Testament (will) is a great first step for an estate plan and is often one key part of a quality estate plan. However, a will alone does not avoid probate. Common Misconception As estate planning attorneys, one … Read more
- Jun. 9 2016
Procrastination and Estate Planning
Estate Planning is not a topic that most of us like to think about. After all, who really wants to think about disability, incompetence or dying? Yet the reality is that an estate plan will be used and will be needed … Read more
- May. 4 2016
Estate Planning and Revocable Trust Misconceptions
Estate planning and revocable trust misconceptions have proven themselves so prevalent and persistent that our estate planning attorneys are setting the facts straight. The truth is hidden amidst the complex legislation surrounding estate planning – and this article aims to … Read more