Category Archive: Firm News
- Apr. 5 2016
Choosing An Individual Trustee for Your Estate Plan
The task of selecting an appropriate individual 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 trustThe arrangement creating the legal ownership of assets by a trustee for the benefit of the Settlor and/or other beneficiaries.. Usually a trustThe arrangement creating the legal ownership of assets by a trustee for the benefit of the Settlor and/or other beneficiaries. 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. name an initial 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. 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 … Read more
- Feb. 29 2016
Authorization for Final Disposition: What Happens to Your Body After You Pass?
When preparing or conducting a thorough review of your estate plan, it may be pertinent to discuss your need for an Authorization for Final Disposition. Such an authorization will help ensure that your funeral wishes willA written document that sets forth … Read more
- Feb. 10 2016
Digital Assets and Estate Planning
Attorneys and legislators in Wisconsin are currently developing a new law covering digital assets upon death. This new law aims to clarify the issues challenging estate planningPlanning in advance of disability, incapacity, or death to make sure that key life issues have been addressed while … Read more
- Dec. 18 2015
Real Property Sales from Estates
We are delighted to report that our lead 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
- Dec. 9 2015
When to Have Your Estate Plan Reviewed
Estate plans prove themselves most valuable when they reflect your current life situation and financial position. An out-of-date estate plan can often leave you short, owing unexpected taxes, paying higher fees and protecting yourself and your children less than you had … Read more
- Oct. 27 2015
Irrevocable Trusts: Protecting Your Home
As part of 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
- Aug. 19 2015
Wisconsin Probate Attorneys
As Wisconsin probate attorneys, we spend much of our professional time helping our clients avoid and navigate probateThe court process proving the validity of a 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. and conducting the orderly InventoryA document filed during probate administration and sometimes during trust administration setting forth the assets owned at the decedent’s death and the value of those assets. In a probate administration case, the Inventory is filed with the court and is a public document., Accounting, and AdministrationA process during which the deceased persons assets pay debts, claims and funeral expenses and the remaining estate funds are then distributed according to the wishes of the deceased person set forth in the Will or Trust. The Administrator is in charge of the process and must follow what is set forth in the Will or Trust. If there is no Will or Trust, the distributions and payments are made according to the law of the applicable state and is called intestate succession. of a decedent’s assets under a 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. or … Read more
- Jul. 27 2015
Estate Planning is a Process
Providing legal counsel for 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 … Read more
- Jul. 15 2015
Why You Need a Lawyer When Selling Property of the Deceased
Few people really understand the importance of legal representation when selling the house or other form of real estate of a deceased person. Yet, the value of having a lawyer on your side during this process cannot be understated. When selling a house … Read more
- Jun. 18 2015
Gift Tax Rules and Long Term Care: Two Common Misconceptions
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