Category Archive: Probate
- Sep. 11 2013
Implementation of the Wisconsin Budget Bill
As we continue to pay close attention to developments concerning the implementation of the Wisconsin Budget Bill, our estate planningPlanning in advance of disability, incapacity, or death to make sure that key life issues have been addressed while the person is … Read more
- Jul. 5 2013
Estate Planning in Wisconsin: Considering the New Budget Bill
Over the past few months, the 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 of Attorneys for Health Care, Wills, and Trusts to form a strategy and provide for the administration and disposition of his or her assets upon death or upon incapacity. lawyers at our firm have been closely monitoring the progress of the Wisconsin Budget Bill. As we previously reported, this new budget bill is likely to have a significant impact on estate … Read more
- Jun. 26 2013
Keeping a Watchful Eye on Amendment 3 of the Wisconsin Budget Bill
As the date approaches for Governor Scott Walker to sign into law a new budget bill for Wisconsin, the trustThe arrangement creating the legal ownership of assets by a trustee for the benefit of the Settlor and/or other beneficiaries. and 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. lawyers at Wokwicz Law Offices LLC willA written document that sets forth and names the personal representativeA term used in Wisconsin to describe the person appointed by a probate court to be in charge of the probate administration process of a deceased person. This is often referred to in other states as an Executor or Administrator. The Personal Representative may be set forth and nominated in a decedent’s Will before death along with successor Personal Representatives. who … Read more
- May. 8 2013
Asset Protection Planning to Change under New Estate Planning Legislation in Wisconsin
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
- Jan. 20 2011
Estate Tax Alert – January 2011
As 2011 progresses, we have received clarification from the federal government on the applicability of the new 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 … Read more
- Dec. 8 2010
Estate Tax Alert
As we write this, the clock keeps ticking on the Federal 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 … Read more