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. 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 trustThe arrangement creating the legal ownership of assets by a trustee for the benefit of the Settlor and/or other beneficiaries. 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 »

• Dec. 15 2016

  The Greatest Wealth Transfer in History

  The Greatest Wealth Transfer, according to the Boston College Center on Wealth and Philanthropy, has already begun. Through estates, heirs are expected to receive over $30 trillion in inheritance before 2061. Add charities and government to the list of wealth … Read more »

• Nov. 30 2016

  Estate Plan Review: When Do I Need One?

  As estate planning lawyers, we are regularly asked “When do I need to do an estate plan review?” When we draft an estate plan for a client, we attempt to draft with an eye towards the future so that frequent … Read more »

• Nov. 1 2016

  Marital Property Agreement: Funding a Revocable Trust Without Probate

  In Wisconsin,a 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. agreementA document created by married persons in advance of marriage (prenuptial agreement) or following marriage (post-nuptial agreement) to agree with or alter the pre-set 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 Property law is unique to the State of Wisconsin, but is a form of and based upon many principals contained in Community Property law. laws. A Marital Property agreementA document created by married persons in advance of marriage (prenuptial agreement) or following marriage (post-nuptial agreement) to agree with or alter the pre-set Wisconsin Marital Property laws. A Marital Property agreement can also be used to direct that property, upon death of one or both spouses, shall be distributed to a trust or person to avoid probate. In Wisconsin, a Marital Property Agreement can be used to help fund a Revocable Trust at the death of a spouse of both spouses to avoid probate and can be referred to as a Non-Probate Marital Property Agreement. can also be used to … Read more »