September 11, 2013
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 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 are sharing an important update on possible delays to the implementation of the Wisconsin Budget Bill (2013 Wis. Act 20, sec. 9118).
Implementation of the Wisconsin Budget Bill
In the first week of September 2013, the Wisconsin Department of Health Services (DHS) submitted a letter to the Joint Finance Committee, requesting implementation of the new Medical Assistance estate recovery provisions in Act 20. The DHS was supposed to develop a plan for implementation, but the letter does not attempt to develop a plan — but rather is a blanket implementation of the new law.
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At Wokwicz Law Offices, we feel that there is the possibility that the Joint Finance Committee 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. approve implementation treating the letter as a “plan”. It is possible that the Joint Finance Committee could act as soon as September 18, 2013. We do anticipate certain legal action regarding particular provisions in the law, as many 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. and tax professionals expect that some provisions 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. violate Federal law if they are implemented as currently written.
However, the law could be effective as soon as October.
This brief news items is being presented to you by the estate planning lawyers at Wokwicz Law Offices, LLC., to keep you informed of the potential implementation of the Medical Assistance provisions in the new Budget Bill.
Contact the Estate and Tax Lawyers for Assistance
Should you have any questions about your own 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. and tax concerns, especially in light of the uncertainty surrounding the new Wisconsin Budget Bill, we encourage you to contact Paul B. Wokwicz on 262-658-2181 or via email at info@wokwicz.com.
The Wisconsin Department of Health Services is online at http://www.dhs.wisconsin.gov.