Category Archive: Irrevocable Trusts
- 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
- 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
- Feb. 22 2019
Naming Guardians for Minors and Young Children
Naming guardians for minors and young children is a major priority for Wisconsin parents working to create an estate plan. For any parent of minors or young children, a holistic estate plan must detail your wishes to ensure your children … Read more
- Sep. 26 2018
Nonjudicial Settlement Agreements in Wisconsin
Under Wisconsin law, nonjudicial settlement agreements can be used to modify trusts that otherwise would be considered irrevocable without court action. With a nonjudicial settlement agreement, an irrevocable trust which appears incapable of being updated, can sometimes be updated without having … Read more
- Aug. 27 2018
Credit Shelter Trusts in Wisconsin
In years past, many Wisconsin couples set up credit shelter trusts as part of their estate planning, to avoid or reduce Wisconsin and Federal estate taxes upon death. Due to changes in Wisconsin and Federal estate tax laws, many credit … Read more
- Mar. 23 2018
Avoiding Probate: Definitions and Key Reasons
Many of our clients name avoiding probate as a key goal when requesting our assistance in preparing a well crafted estate plan. At Wokwicz Law Offices, we have decades of experience navigating our clients around probate. A Brief Overview of … Read more
- Feb. 28 2018
Irrevocable Medicaid Asset Protection Trust: Protection from Nursing Homes
When we meet with estate planning clients for the first time, our estate planning attorneys will discuss a number of options focused upon the clients’ situation and goals. For clients interested in Medicaid nursing home asset protection, we explore creating … 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 planning … Read more
- Sep. 22 2017
What is a Wisconsin Trust Protector?
A trust protector is a person or company with the power to perform duties over a trust and watch over the trust for the long term. The trust protector can help make sure that a trust functions as intended, well into … Read more
- Aug. 31 2017
Irrevocable Life Insurance Trust: A General Procedural Outline
As estate planning attorneys serving southeast Wisconsin, we work with our clients to create an Irrevocable Life Insurance Trust (ILIT) to prevent life insurance from inclusion in the client’s federal taxable estate at death. Moreover, we also create ILITs to … Read more