Estate Planning
What Is Probate?
Probate is an often misunderstood but frequently heard term in relation to the death of a loved one. Perhaps in completing your estate planning you have been advised to “avoid probate.” But what is probate and why is to be avoided? Probate is the name of the legal...
Using a Special Needs Trust to Ensure Your Settlement Does Not Affect Public Benefits
In Wisconsin, Medicaid (sometimes also called Medical Assistance) covers 1 in 9 adults and 1 in 3 children; in fact, 16% of the Wisconsin population gets its health care coverage through Medicaid. Unlike the similar sounding Medicare, Medicaid is a means...
National Healthcare Decisions Day – April 16, 2019
National Healthcare Decisions Day was founded in 2008 to inspire, educate and empower the public and providers about the importance of advance care planning and encourage individuals to express their wishes regarding their healthcare and end of life...
Why Won’t the Bank Honor My Power of Attorney?
When you have been appointed as an agent under a Durable General (Financial) Power of Attorney, you presume that financial institutions will honor the document appointing you and provide you with access to funds and financial information on behalf of the...
Naming a Trust as the Beneficiary of a Tax-Qualified Retirement Account
Many have heard the quote often attributed to Benjamin Franklin, “In this world nothing can be said to be certain, except death and taxes.” The sentiment behind this quote remains as relevant today as it did then, particularly in the context of...
Accounting for Digital Assets in your Estate Plan
Like many things rendered obsolete by the progress of technology, older estate plans may not adequately address the realities of the digital age. In the last 15 years, the Internet has become commonplace and many transactions are now recorded...
Seven Things You Need When You are Personal Representative of an Estate
Being asked to wind up the affairs of a deceased loved one may feel like an honor, but the duties of a Personal Representative, or Executor, as the position is sometimes called, can also be complicated. If you have been named as Personal Representative in...
Trust Settlements – How to Navigate the Process
Regardless of the type of estate plan you have set up, if someone passes away, there are a number of matters that will need to be addressed. A trust sets up the terms for how a trustee should administer the affairs and assets of the deceased. Below are...
Buy-Sell Agreements: Working for the Best and Planning for the Worst
However optimistic you are about the future of your business, the reality is at some point your business will either end or change hands. A thorough business plan takes this into consideration. The best-case scenario is after many years of success, your...