Category Archive: Powers of Attorney and Wills
- May. 15 2019
Simple Will: Often Not Adequate Estate Planning
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. 21 2018
Wisconsin Marital Property Law
Wisconsin marital propertyA law for married persons with respect to ownership and rights in and to assets, property, and income during life and upon death of a married couple. Marital PropertyA law for married persons with respect to ownership and rights in and to assets, property, and income during life and upon death of a married couple. Marital Property law is unique to the State of Wisconsin, but is a form of and based upon many principals contained in Community Property law. law is unique to the State of Wisconsin, but … Read more
- Mar. 23 2018
Avoiding Probate: Definitions and Key Reasons
Many of our clients name avoiding probateThe court process proving the validity of a Will 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 Will or under Intestacy laws if there is no 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.. The 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. … 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
- 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.. Only Based Plan provides the simplest and least expensive approach 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 … 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
- Feb. 27 2017
Small Business Estate Planning
Estate Planning for a Closely Held or Small Business In addition to focusing on their business strategies, small business owners and owners of closely held businesses must also address the typical estate planningPlanning in advance of disability, incapacity, or death to … Read more
- Jan. 19 2017
No-Contest Clause: A Practical Definition
A no-contest clauseA clause in a Will or TrustThe arrangement creating the legal ownership of assets by a trustee for the benefit of the Settlor and/or other beneficiaries. that creates a penalty for anyone who sues to attempts to obtain more from the 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. estate or trust estate then provided for in the Will or Trust. A common no-contest clauseA clause in a Will or Trust that creates a penalty for anyone who sues to attempts to obtain more from the probate estate or trust estate then provided for in the Will or Trust. A common no-contest clause will revoke an inheritance in whole or in part if that beneficiary of the Will or Trust challenges the Will or Trust or attempts to obtain more than stated in the Will or Trust. No contest clauses are generally not favored, in many circumstances, by courts and are not permissible in all states. However, No-Contest Clauses are legal in Wisconsin with many legal restrictions. … Read more