Estate Planning
Wisconsin Expands Ability to Activate Powers of Attorney for Health Care
Wisconsin is facing a shortage of primary care doctors, particularly in rural areas. According to a report by the Wisconsin Council on Medical Education and Workforce, there is expected to be a shortfall of 745 primary care doctors by 2035, in large part due to...
The Purpose of a Tax ID Number for an Estate
For those who are unfamiliar with estate and probate administration, the need for a separate tax identification number can be confusing. Most people are familiar with the idea that when you file your individual tax returns each year, you need to include your social...
Transfer on Death Deeds
As you begin to think about the best structure for your estate plan, you are likely guided by one thought, which is how do I avoid probate? The consensus about probate is that it can be costly and time consuming. For that reason, many people structure their estate...
What Happens if a Minor Inherits Money in Wisconsin?
When an individual dies, their assets are distributed to their beneficiaries through a variety of procedures depending on their estate planning choices. The most common beneficiaries of an estate are either a surviving spouse or the adult children of older parents....
Estate Planning for Second Marriages
Although second marriages are more common than ever, developing an estate plan for couples in second marriages can be complicated and challenging, especially when one or both spouses have children from prior relationships as well as an accumulation of wealth and...
What Does “Sound Mind” Mean When Writing a Will?
A last will and testament, along with other important estate planning documents, records a person’s decisions regarding the disposition of their property upon their death. Once you turn 18, you can write and amend your estate planning at any point during your life, so...
So, You Want to Sell Your Life Estate?
Many people have established a life estate in their residence to protect it if they require Medicaid benefits to pay for their long-term care. A person establishes a life estate in their residence by signing a deed which transfers ownership to their desired...
Three Considerations for Estate Planning During a Pandemic
The possibility of prolonged sickness or even death from COVID-19 has caused many individuals to feel more urgency to prepare advanced directives and undertake other estate planning. In addition, the unknown final impact of the economic crisis may raise questions...
What Happens If I Pass Without a Will?
“What will happen to my assets when I pass away?” This is the question that brings many clients into their attorney’s office for initial estate planning discussions. Typically, their estate planning attorney will ask questions to learn about their assets, family and...