Firm News

At Wokwicz Law Offices, LLC, we believe that regular communication with our clients on relevant and important topics is key to providing a more complete service for our clients. With this in mind, we are happy to share news of our firm and, perhaps even more importantly, legal and final news that are likely to effect our clients.

• 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 »

• Aug. 23 2011

  Estate Tax Exemption and Spousal Portability

  On December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (for this article we 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 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. be in charge of … Read more »

• Aug. 10 2011

  Important Considerations for Irrevocable Income Only Trusts

  This post is the second in a two part series covering the financial advantages of Irrevocable Income Only Trusts. Part One covered Using Trusts to Protect Assets from Nursing Homes. Irrevocable Income Only Trusts must be very carefully and specifically … Read more »

• Jul. 27 2011

  Using Trusts to Protect Assets from Nursing Homes

  This post is the first in a two part series covering the financial advantages of Irrevocable Income Only Trusts. Part Two covers Important Considerations for Irrevocable Income Only Trusts At Wokwicz Law Offices, we routinely meet with our clients to … 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 »