Estate Planning
How to Prepare for Your Estate Planning Meeting
The thought of preparing an estate plan can be overwhelming. This is especially true if you are completing the estate planning process for the first time. You may have a long list of questions or perhaps you may not know where to begin. An experienced estate planning...
Protecting Retirement Accounts for Spouses Who Need Long Term Care
Given the rapidly increasing cost of long-term care in a nursing home or assisted living facility, many couples inquire about how to protect their assets from being consumed by such costs, particularly their retirement accounts which often account for the majority of...
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...