How a Charitable IRA Rollover Works

If you are age 70½ or older, you can instruct your IRA custodian to transfer funds directly to a qualified 501(c)(3) nonprofit. Because the money goes directly to the charity, it never enters your bank account and is not counted as part of your taxable income.

The Key Advantages of a Charitable IRA Rollover

The beauty of a QCD is its simplicity and its ability to bypass several tax hurdles:

• Satisfy Your RMD: If you are age 73 or older, a QCD counts toward your Required Minimum Distribution (RMD) for the year.
• Tax-Free Impact: Since the distribution is excluded from your gross income, you essentially receive a “100% deduction” regardless of whether you itemize or take the standard deduction.
• Avoid New Limitations: Unlike regular cash gifts, QCDs are not subject to the 2026 0.5% AGI floor or the 35% deduction cap for high earners.
• Lower Your AGI: By keeping this income off your tax return, you may also reduce your exposure to higher Medicare premiums (IRMAA) and taxes on Social Security benefits.

Current Limits and Rules

For 2026, the annual limit for QCDs has been adjusted for inflation to $111,000 per person. If you are married, you and your spouse can each contribute from your respective IRAs for a total of $222,000.

It is important to note a few limitations:

1. The funds must come from a Traditional or Inherited IRA (not an active 401(k) or 403(b)).
2. The gift cannot be made to a Donor-Advised Fund (DAF) or a Private Foundation.

Take Advantage of Charitable IRA Rollovers

As Wisconsin estate planning attorneys, we are deeply familiar with charitable IRA rollovers. For years, we have been helping our clients take advantage of these tax-efficient tools to support their beloved causes and nonprofits. We invite you to contact our firm to see if these powerful estate planning tools is right for your needs and goals.

The post Charitable IRA Rollover: An Optimal Way to Make Charitable Gifts appeared first on Wokwicz Law Offices, LLC.

In Wisconsin, a Spendthrift Trust is one of the most effective ways to ensure that your hard-earned assets stay in your family and are used for your family’s long-term well-being.

What is a Spendthrift Trust?

A Spendthrift Trust is a legal arrangement where a third party (the Trustee) manages the inheritance for your child or other beneficiary. A Spendthrift Trust includes a specific provision that restricts the beneficiary’s ability to transfer their interest in the trust and prevents creditors from reaching the trust’s assets.

A Spendthrift Trust Offers Key Benefits for Your Heirs

1. Shielding Assets from Creditors

Without a trust, an inheritance is considered personal property. If your child has credit card debt, medical bills, or a business lawsuit, creditors can seize those funds. With a Spendthrift Trust, the assets belong to the trust, not the child. Because the child doesn’t “own” the money, most creditors cannot legally force the Trustee to pay out funds to satisfy debts.

2. Divorce Protection

In Wisconsin, inheritances are often considered individual property, but they can easily become “marital property” if they are commingled (for example, if your child puts the money into a joint bank account with a spouse). A Spendthrift Trust keeps the inheritance separate. In the event of a divorce, the trust assets are generally protected from being split as part of a marital settlement.

3. Protection from Poor Financial Decisions

Sometimes the “risk” is not an outside creditor, but the beneficiary’s own spending habits. Whether it’s a struggle with addiction, a lack of financial maturity, or being influenced by “fair-weather friends,” a Spendthrift Trust allows you to:

• Stagger distributions (e.g., 10% at age 25, 20% at age 30).
• Limit funds to specific uses like education, healthcare, or a first home down payment.
• Appoint a Professional Trustee to manage investments and tax filings.

Why the “Spendthrift Clause” Matters in Wisconsin

Wisconsin Statutes (Chapter 701) recognize the validity of spendthrift provisions. However, these protections are not “one-size-fits-all.” To be effective, the trust must be drafted with specific language that clearly states the beneficiary cannot alienate (give away or sell) their interest in the trust.

This type of planning is not just for the wealthy. It is for any parent who wants to ensure that their child’s inheritance is protected rather than a target for litigation or a source of conflict.

Take the Next Step

Contact our firm to see how a Spendthrift Trust could be included in your estate plan to protect your family’s assets.

The post A Spendthrift Trust in Wisconsin: The Power to Protect Your Child’s Inheritance appeared first on Wokwicz Law Offices, LLC.

Consider What Happens When You Pass Away

Prior to his passing, Leonard Bernstein had written a memoir that was password protected. No one was able to access his memoir. He had not given the password to anyone. Although most of us won’t be producing a memoir, many of us have photos, text messages, and emails that will have deep meaning to those we leave behind. Access to those digital family treasures can be important. Not having to go through a social media company’s or email service provider’s policies or legal channels can help make your estate planning attorney’s job a bit easier. In some cases, that can also save you legal fees and costs.

Who will have access to your electronic devices or social media accounts if you become incapacitated or pass away? Will your trusted loved ones or legal representative know where to find your asset information and account statements? Do you want them to have access to certain financial accounts or social media sites without having to go through legal formalities? Will assets go missing and never be located if no one knows about them?

The Good News: We Access Most Digital Accounts and Assets

We can typically locate assets of incapacitated or deceased persons through account statements, tax returns, tax information such as 1099s, and over time through mail. However, it is a lot easier if there is a list of assets available or a file with printed account statements available.

That said, where there are digital assets that do not generate mailed statements or do not result in 1099s, such as online bank accounts or cryptocurrency, it can be difficult to locate these assets. Even if others know of the existence of these assets, will your legal representatives know your usernames and passwords? Will your legal representatives be able to access these online assets? For example, cryptocurrency may be unrecoverable if passwords or digital private keys are unavailable.

Start Planning Today

We suggest that you keep a list of assets or account statements in a place where a trusted loved one knows where to find them or with your estate planning documents. Even the name of the bank or investment company and type of account will help locate an asset in a timely manner.

We also suggest that you update this information at least once per year. Be sure to include social media accounts, device passwords, and financial assets that do not generate mailed statements.

With data breaches in the news on a regular basis, we advise our clients to use caution and follow best practices so as to keep your statements and passwords safe.

Don’t Forget Digital Assets like Photos and Videos

Will anyone be able to access your computer or phone if you pass away? Do you want someone to be able to access your electronic devices so that all your photos and videos, taken over years, are available to your loved ones? Making sure that your legal representative has the usernames and passwords to access your electronic devices and accounts is important, so that your children, grandchildren, and beyond can access, save, and cherish those digital memories.

For our experience, the process of gaining access to these important items without usernames and passwords can be time consuming, costly, and in some cases, impossible.

Clarify How to Handle Social Media and Email

You may want your loved ones to have access to social media accounts or email accounts. You may want to give instructions to delete certain social media accounts, to keep them active, or to post an update on your condition. Letting loved ones know what you want can make it easier for them to follow how you want these type of personal matters handled.

What To Do: An Action Plan to Log Digital Assets

• Identify and List: Identify all of your assets and make a list or keep statements where a loved one or legal representative knows where to find them. Keeping this information with your estate planning documents is often the best practice. Update your list regularly, but at least once a year. Tax time is often a great time to update, since you will be gathering up financial information anyway. Don’t forget about assets which don’t have statements mailed such as online bank accounts, online investment accounts, some life insurance, and cryptocurrency. Make sure that these assets are accounted for on your list.
• Don’t Forget about All of Your Digital Assets: Consider listing items such as online bank and investment accounts, online retirement accounts, email accounts, social media accounts, domain names, cryptocurrency, money transfer apps, online photo storage, cloud storage accounts, iTunes and stored music,  movie accounts, health accounts, online memberships, streaming services such as Netflix, cash accounts such as PayPal and eBay, money transfer apps such as AppleCash and Venmo, and more. Again, it will be much easier to manage these accounts if a trusted loved one or legal representative can follow your list to identify and easily access these items.
• Passwords and Multi-Factor Authentication: If you use a password management app, consider making sure that a loved one or legal representative knows where to find the password and access the app? If you use multi-factor authentication such as using verification codes sent to an email or phone, will your loved one have access to your email or phone? Don’t forget to note your phone pin number.
• Social Media: Set out your wishes regarding social media accounts and how you would like them handled if you were incapacitated or deceased. Writing clear instructions how to handle items like your Facebook account will help ensure  your loved ones and legal representatives follow your wishes.

We Are Here to Help

As estate planning attorneys, we regularly remind our clients that estate planning is an ongoing and long-term process. We invite you to make sure that you have a plan for handling all of your digital assets. We welcome the opportunity to work with you on this and invite you to contact us to discuss estate planning options.

The post Digital Assets, Social Media, Accounts, and Passwords in Estate Planning appeared first on Wokwicz Law Offices, LLC.

Proper Beneficiary Designations = Part of the Estate Planning Process

Proper beneficiary designations are essential to an effective estate plan. A key aspect of estate planning is ensuring that a client’s assets work properly with the will or trust to accomplish intended results. And not only accomplish the intended results, but do so in a cost effective way taking into account the client’s goals, family, and assets.

As we remind our clients, estate planning is a process, and not a set of documents. To view it as anything less would result in a less than comprehensive estate plan.

Which Assets Typically Require Beneficiary Reviews?

Depending upon the estate plan and the purpose of that plan, at Wokwicz Law Offices, we generally want to review and consider beneficiary designations on the following types of assets:

• Individual Retirement Accounts
• 401(k) Plans
• Deferred Compensation Plans
• Other employer sponsored plans such as 403(b), 457, etc.
• Stock Option Plans
• Life Insurance
• Annuities
• Bank Accounts (Payable on Death or “POD”)
• Non-qualified Investment Accounts (Transfer on Death or “TOD”)
• Certificates of Deposit (CDs)
• Bonds and U.S. Bonds

It maybe that no updates are required, but typically updates are recommended based upon each clients estate planning goals, assets, and family. Additionally, the choice of what type of estate plan is created, will impact how and who should be named as beneficiaries on various assets.

Proper Beneficiary Designations Matter?

Clarifying Who Receives Your Assets

A will or trust will name which beneficiaries will receive your assets upon your death. Aligning the beneficiary designations with your plan is required to make sure that the intended beneficiaries actually receive certain assets.

For example, if you named a child (let’s call him Bill) on a particular savings account as a Payable on Death (POD) beneficiary, upon your death, that account will be distributed directly to Bill by your bank. If your will or trust says that your assets are to be distributed equally to your three children, that particular savings account (mentioned above) will not follow that “equal sharing” direction. Your bank will still distribute all 100% of that savings account to Bill. In short, your will or trust does not change your POD beneficiary designation in favor of Bill.

Avoiding Probate

Proper beneficiary designations can be crucial when aiming to avoid probate. In general, a non-trust account without beneficiary designations will be considered a probate asset and require court involvement upon death.

Drawing on our example above, maybe naming your hypothetical child, Bill, as a beneficiary on an account will help avoid probate. Yet should your other children also be named? Or should funds be distributed to your trust to help pay final bills, protect funds from your children’s creditors, and direct what should happen to these funds if a child predeceases you?

The likely answer is “yes”. Generally speaking, this account should name the trust to afford all of the protections that a trust allows, especially if the intent is not to leave 100% of your assets to Bill.

In any event, reviewing and planning how best to allocate, distribute, and avoid probate on this bank account is necessary. Leaving it “as is” with improper or no beneficiary designations is likely the worst option. The same applies for all of your other assets. Coordination of all of your assets with your estate plan is essential.

Tax and Other Considerations

An experienced estate planning attorney will account for and discuss options to minimize taxation. That attorney will consider the advantages and disadvantages of naming children directly on retirement assets versus naming a trust.

For example, an IRA could name children directly as beneficiaries. This may be appropriate and minimize after-death expenses and simplify the post death trust administration process, by having these funds go directly to the children.

However, we have to balance the ease of post-death administration and tax issues, with other potential concerns such as a child’s creditors, a child who cannot manage assets, a child who is too young to manage and control assets, or a child with special needs. We also need to determine what should happen if a child dies before the parent. We would not want to name a young child or disabled child directly on any assets.

In short, there are many beneficiary designation considerations that an experienced estate planning attorney will discuss with you to help determine the best way to accomplish your goals. (There are so many tax and other considerations, that we will not even attempt to discuss them in depth in this article.)

No Quick One-Size Fits All

We wish there was one easy answer on who to name for beneficiary designations. However, there is no such quick answer. Each asset has to be reviewed individually to determine how best to name a beneficiary, taking into account the goals and your personalized estate plan.

The impact on your estate plan, if proper beneficiaries are not designated, can be catastrophic. As experienced estate planning attorneys, we can discuss and help choose the personalized estate planning beneficiary designations that fit your unique family, goals, and desires. This is not in addition to creating your estate plan – we consider this an integral aspect of your estate planning process.

Revocable Trusts and Beneficiary Designations

Since avoiding probate is often a primary reason for creating a revocable trust, this topic deserves a greater study.

An experienced attorney must review your assets and consider proper beneficiary designations to help further the goals of your revocable trust and to avoid probate. All of your assets may not be directed to your trust by beneficiary designation, especially if there are other concerns or if there are other tax and post death administration matters to be considered.

When taxable retirement assets could go directly to healthy adult children, or alternatively be distributed through a trust, you must consider your beneficiary designations. Discussing and considering the pros and cons of both approaches is a must as part of any revocable trust based estate planning process.

The Bottom Line on Beneficiary Designations

Proper beneficiary designations require a review and updates to your beneficiary designations. To properly do so, we must consider your goals, family situation, heirs, beneficiaries, assets and estate plan. Failure to properly integrate assets and beneficiary designations will result in unnecessary post-death expenses, probate, and unintended consequences.

The bottom line is that creating a will or trust estate plan is only part of the estate planning process. It’s never the final step. Coordinating beneficiary designations with your unique family situation, while taking into account your will or trust plan, is as important as creating a will or trust in the first place.

Designate the Right Beneficiaries for Your Estate Plan

We believe that estate planning is a process, and that beneficiary designations and beneficiary updates are essential component of that process. We invite you to contact us for help designating the right beneficiaries for your needs, wishes, family, and assets.

The post Beneficiary Designations – An Often Overlooked Part of Estate Planning appeared first on Wokwicz Law Offices, LLC.

Over the years, we have come to appreciate that (understandably) few grandparents understand how best to make those gifts, from an estate planning and tax perspective. Few grandparents are aware of the issues affecting major gifts. In this article, we will discuss some of our concerns, some issues, and some suggestions for improved grandparent gifting.

To be clear, this article is not about small holiday or birthday gifts. Giving smaller routine gifts for holidays, birthdays, and other occasions rarely present a concern. Those smaller gifts only become an issue when a grandparent is facing a long-term nursing home or assisted living stay. When we say grandparent gifting, we mean gifts of significant value.

Grandparent Gift or Loan?

The estate planning laws in Wisconsin are clear that the intention of the transfer of assets must be very clear. If you want to give a gift to your grandchildren, tell them so in writing. If you’re extending them a favorable loan, put that in writing too. This written record of your intentions is very important.

Considering Gifts to Grandchildren

The following are a few items to consider and follow when looking to give major gifts to grandchildren.

• Is the gift an advance that should offset any future inheritance on the grandparent’s death?
• If the answer to the above question is “Yes”, it is important that the grandparent’s will or trust be updated to reflect this offset.

Considering Loans to Grandchildren

The following are a few items to consider and follow when looking to make loans to grandchildren.

• Make it clear that it is a loan; document it with a written promissory note.
• Is the loan to be forgiven at death or must it be repaid even after the grandparents death? The answer should be reflected in the grandparent’s will or trust, especially if it is forgiven at death. The promissory note should reflect also if it is forgiven at death.
• When considering loans to grandchildren, it is critical to understand that if you need Medicaid to pay for nursing home or assisted living care, any gift within five years of applying for Medicaid will be an issue. (Please see below for further details.)

Sharing Equally or Not

In our experience, some grandparents want to share equally with all of their grandchildren. Other grandparents take into consideration the individual needs or challenges of their grandchildren and choose not share in that way.

For those seeking to grandparent gift equally, you will need to offset and equalize gifts. This is especially true where grandparent gifting to date has not been equal to all of your grandchildren. This will need to be done in your will or trust.

Before giving unequal gifts, we invite you to consider the implications and discuss estate planning solutions with an experience attorney.

Medicaid and Long Term Care Costs

Any significant gifts made within five years of applying for Medicaid for nursing home or assisted living long term care costs present a major issue. Gifts within five years of applying for Medicaid will result in penalty periods where Medicaid will not pay for long term care costs. Although this topic is beyond the scope of this article, whenever planning on making significant gifts, a grandparent should speak with an estate planning attorney to discuss the best way to accomplish these gifts, and the relevant Medicaid laws and time periods.

We regularly highlight for our clients that the IRS laws on taxable gifts are entirely separate from Medicaid gifting laws. Medicaid does not have a gift tax exclusion.

Is Your Gift a Taxable Gift?

Generally, a gift of $15,000 or less per grandchild per year is not taxable. Each grandparent can take advantage of this gift tax exclusion. As such, two grandparents together could give $30,000 in total to a grandchild in one year without it being a “taxable” gift.

In addition, the $15,000 or $30,000 taxable gift exclusion limits can be exceeded without paying any actual taxes for most grandparents. Rather, the amounts over these limits require reporting the gifts to the IRS, causing a reduction of how much can be left estate tax free at death. For most grandparent’s, larger gifts will not result in any gift tax or estate tax.

Although it can get complicated, many of our clients who want to do significant grandparent gifting, do so with large lump sum gifts without paying any gift or estate tax. The advantage of a larger one time gift, if done properly, can be long term Medicaid protection after five year.

Educational Gifts and 529 Plans

Often grandparents set up a 529 College Saving Plan for grandchildren. The grandparents are often the owner of these plans.

However, what many advisors and grandparents do not consider is nursing home or assisted living implications and Medicaid. If the grandparent is the owner of the 529 Plan, this will be an asset of the grandparent. The grandparent has the power to pull money from the 529 Plan into the grandparent’s name. That asset can be lost to a nursing home or assisted living when Medicaid is needed.

A better solution may be to have a responsible parent set up the 529 Plan. Then the grandparent gifts to that college savings plan. Any gifts made to the 529 Plan owned by a responsible adult – and not by the grandparent – can obtain long term care Medicaid protection five years after the gift was made.

Custodial Accounts or Trusts

Grandparents often set up custodial accounts in the name of a grandchild and make gifts to these accounts. This can work for smaller amounts and gifts. However, the grandchild will be able to receive, control, and spend these assets at age 18 or 21, regardless of the grandchild’s life circumstances.

Placing a large amount in an account that the grandchild owns and that the grandchild will control at the age of 18 or 21, is normally not the best solution. Over the years, we’ve seen more than a few grandchildren make unwise decisions with this money when they reach the age of 18 or 21. We often invite our clients to consider the structure of a trust when leaving significant money directly to a grandchild.

Estate Planning and Trusts for Grandchildren

Some of our grandparent clients want to help their grandchildren get off to a solid part by helping them through estate planning. Trusts are often the preferred method for gifting where the gifted funds will not be immediately applied towards certain items such as a house purchase, a wedding, or college tuition and fees. Our preferred approach includes setting up either a revocable or irrevocable trust that the grandparent controls, or a Medicaid trust that will be protected from long term care costs after 5 years.

Any subsequent significant gifts for a grandchild are then made to this trust. The trustee of your choice can then control the gifted funds, in trust, and apply them as you want. For example, a trust might specify that the gifted funds should be used for college expenses or health care expenses.

When the grandchild reaches a certain age, for example 25 or 30, the grandchild will receive any funds left in trust, unless the grandchild has drug, creditor, or other critical issues. In those instances, the trustee can hold back the funds until a later date.

Experience Matters when Grandparent Gifting

As noted above, there are a number of critical considerations when making significant gifts to grandchildren. At Wokwicz Law Offices, we have decades of experience helping grandparents establish appropriate estate planning trusts for gifting to grandchildren. We also have decades of experience supporting outright gifts to children and grandchildren in light of Medicaid implications.

We invite you to contact us for help preparing your next major gift or loan for your grandchildren.

The post Grandparent Gifting: The Right Way to Gift to Grandchildren appeared first on Wokwicz Law Offices, LLC.

In Wisconsin, trusts are required to name a specific person or entity as trustee of the trust. That trustee will handle all of duties known as trust administration. The trustee that you select will normally perform the trustee duties outside of court, as most trusts are set up to avoid probate. Therefore, you need to know what factors make for a good trustee.

Responsibilities of a Trustee

Since this article is primarily about selecting a trustee, we will give an overly simplistic answer to the question of what the role of the trustee is during the trust administration process.

To keep this answer simple, we’ll assume that the trustee’s primary role is to act as a successor trustee for a revocable trust that will be comprised of a few bank accounts, a house, and some personal property. In this scenario, upon the death of the trust creator, the trustee would likely be responsible for paying bills, selling the house, taking care of final tax returns, accounting for the assets and expenses to other trust beneficiaries, and then dividing up the remaining property as set forth in the trust.

In some cases, a beneficiary may require that their share be held in further trust. This tends to happen where there are competency or financial issues, or when the beneficiary is a minor. In these cases the trustee would be required to manage funds held in trust for a beneficiary. (In a previous article, we discussed the basics of trusts for young or minor children.)

While a trustee can be called upon to handle a myriad of tasks, in most cases, the role of the trustee is straight forward. In most cases, the trustee is a family member such as a spouse or child.

How Do you Decide Who Would Make a Good Trustee?

When we are drafting estate plans with trusts, especially revocable trusts, a key question is Who should be your trustee if you are unable to do so in the future or upon your death?

We often suggest selecting a child, spouse, sibling or another trusted family member. Where there are known family conflicts or non-marital children involved, we may recommend a corporate trustee or co-trustees, such as a bank.

As part of the estate planning process involving trusts, we always discuss successor trustees in case your first choice is deceased, unable or unwilling to act as a trustee.

Trustee Selection: Corporate Trustee or Person?

If the trust assets are difficult to manage, such as a farm, mineral rights, or equity in a small ongoing business, the trustee may need to be particularly well versed in these operations, sophisticated or have access to advisors or a corporate co-trustee. In addition, if there is a disabled child or the need for a long term trust or a special needs trust, then a personal trustee may not have the knowledge nor the ability to manage the trust long term, then a corporate trustee maybe the better choice.

This article focuses on selecting a person as your trustee, typically a child or other relative. However, for sophisticated trusts or assets, or where family members do not get along or have conflicts of interest that are not easily resolved, having a corporate trustee act for your trust is often the best solution. Although beyond the scope of this article, always remember, that there are reasons and times where a corporate trustee maybe the best solution.

Characteristics of a Good Trustee

The following are some characteristics to consider when selecting a person, as opposed to a corporation, as a trustee.

Expertise

A good trustee has the self-awareness and ability to know when something is beyond the trustee’s scope of competence. That trustee is willing to engage experts to assist when assets or issues call for expertise that the trustee does not possess. However, some potential trustees may have experience in trust administration, banking, stocks, or legal matters that can assist him or her in the trust administration process. These type of qualities and experience should be a factor in selecting your trustee.

Prudence

For most trusts, having a trustee with the ability to exercise prudence in selecting experts is critical. Even a simple trust with one house will likely need the trustee to hire a real estate agent to sell that house. Or that trustee will need to exercise good judgment when hiring an attorney to assist in the trust administration. The trustee should not be a know-it-all or unwilling to engage others for help when needed. Having the wisdom and good judgment of knowing when and now to hire experts are desirable traits.

Neutral Yet Firm and Strong

A trustee may have to make unpopular or difficult choices to follow your desires as set out in your trust. The trustee should possess a demeanor to make and defend these difficult decisions.

For example, let’s imagine that one child want to buy your house from the trust at a greatly reduced price and is pushing your trustee to sell the house to him or her at this price. Let’s also imagine that this price is strongly opposed by other children. Does your trustee possess the fortitude to do what is right, what is legal, and what you would have wanted? Will your trustee have the proper attitude and demeanor to calmly access the situation and make decisions without causing unneeded distress to others?

On the other hand, if your trust directs your trustee to allow that child to purchase your house at a discount, will your trustee follow through with that in a positive and supportive manner? Will your trustee follow through in a positive manner even if your trustee will receive less money than if the house were sold to another buyer? The ability to maintain a neutral and positive attitude can be an important character trait.

Location

Although it is better to have the right person rather than a local person, the ideal solution is a local trustee who is the right person. When deciding between two equally qualified trustees, location is a key consideration, with the understanding that the trustee’s location can change. Moreover, the location of the trust could change if you move prior to passing on. While a local trustee may find it easy to perform the duties, having the right person as trustee regardless of location is the best approach.

Impartiality

Your trustee, especially a child who is a trustee, could have a financial interest in your trust. Can your trustee act independently and impartially? Will your trustee not favor themself over the other beneficiaries? Will the trustee make the right decisions for what is right for all of the beneficiaries? If your trustee does not possess the ability to do what is fair and impartial, then he or she is probably not right for the job.

Length of Time

The expected life-span of the trust itself is factor when considering the right trustee. The age of the trustee becomes a factor with on-going trusts. For example, a trust for a young grandchild or a disabled child will likely need a trustee for decades. It is unwise to appoint a trustee who is unlikely to be able to function adequately for an extended period. Therefore, age is a factor in allowing the trust to be competently managed over an extend period of time.

Ability to Follow Directives

Most trustees are not experienced in trust administration. When selecting a trustee, it is important to consider the capacity and willingness of a potential trustee to follow directives. Will your trustee sit with a lawyer to read through and understand the trust? Is your trustee going to adhere to the guidance of that lawyer? Will that trustee follow your desires as set forth in your trust? Does your trustee like to do things his or her way and not follow the rules?

A trustee should conscientiously follow the rules and directives in your trust. Whatever your decisions, no matter how unpopular, the trustee should follow your wishes without causing undue distress to others.

Organizational Skills

The ability to complete tasks and keep good records are important skills for a trustee. The attorney and accountant will need to prepare final taxes and accountings. They will need good records of what was sold, what income came into the trust and what expenses were paid. Therefore, your trustee should be able to organize documents and keep decent records. A child who routinely files taxes late, loses important paperwork, or pays bills late, probably lacks the organizational skills needed to act as a trustee.

Calm, Steady, and Plays Nicely with Others

A trustee interacts with family members and other beneficiaries. As such, the right trustee should be able to get along with others, and make calm, well-reasoned decisions. Your trustee should be a peacekeeper – not the type that likes to stir-up issues. Your trustee should have the ability to stay calm when others are emotional and upset. A steady calming trustee can help to smooth over family disagreements, while still being a firm decision maker.

Successor Trustees

As estate planning lawyers, we recommend naming a second successor trustee or a co-trustee. This is in addition to naming a first successor trustee, who will normally take over after the trust creator’s death. In short, we want your trust to be covered if your first choice trustee is unable, unwilling or ceases to act as trustee.

Co-Trustee Option and Appointment of Successor Trustee Options

In some cases, we recommend selecting co-trustees. This arrangement can require that co-trustee work together in lock-step to make decisions. Alternatively, the arrangement could allow those co-trustees to work independently, dividing up duties.

The decision of whether or not to name co-trustees is beyond the scope of this article, but it is something that we discuss during the estate planning process. However, it is important that your co-trustees get along well and cooperate with each other. Otherwise, co-trustees can make the trust administration process more difficult.

In addition, we often include provisions to allow your trustee to appoint a replacement trustee on a temporary basis. This provision gives the primary trustee options when dealing with minor personal health issues or when facing a hostile beneficiary or sibling.

Finally, we often include the ability for your trustees, as a trust protector, to appoint a successor trustee if all of your named trustees fail to act.

We Can Help with Trustee Selection

As an experienced estate planning law firm, we have worked with hundreds of trustees. When you selecting your a trustee for your estate plan, we welcome the opportunity to assist you with that process. Please contact us to arrange a time to speak about your needs.

The post Trustee Selection for Estate Planning appeared first on Wokwicz Law Offices, LLC.

Do I Discard My Existing Estate Plan After a Move to Wisconsin?

We review a lot of estate plans for people moving to Wisconsin for the first time or moving back to Wisconsin after living in another state. Since estate planning laws vary from state to state, it seems logical that you might need to start over after moving to Wisconsin. However, the answer is not so simple. As you will see, an estate plan typically does not have to be completely redrafted.

The Bad News from Inexperienced Lawyers

Some inexperienced attorneys believe that a new estate plan is needed when moving to Wisconsin. They may state that a new estate plan is needed to avoid the difficulty of reviewing an existing estate plan.

Worse, some attorneys are not knowledgeable and experienced enough to understand the interaction of Wisconsin laws on existing trusts, wills, powers of attorneys, and other key estate planning tools.

Finally, some attorneys that rely on a “systems” boiler plate approach to estate planning may not have the skills to review an out-of-state estate plan. Those lawyers may not know how to update only the aspects of the estate planning that need adjusting due to Wisconsin law.

Watch out for inexperienced attorneys who find is easier to always replace an existing estate plan with a new estate plan only due to a move to Wisconsin. That will cost you more money without necessarily delivering a more robust estate plan.

The Good News: We’re Experienced Estate Planning Attorneys

If you have an existing estate plan and move to Wisconsin, it is unlikely that you need to start from scratch and completely redo your estate plan. In practice since 1958, our firm has been focused on estate planning law for more than 60 years. We never assume that you need a new estate plan just because you moved to Wisconsin.

However, it is a good time to take care of the small details and technical items that might need to be updated or tweaked. It is also worth reviewing your assets and newly acquired real estate, to see how your assets interact with your estate plan. Your move is also an opportunity to review your estate plan to determine if any other changes are required to meet your estate planning goals due to asset, law or family changes.

Wisconsin’s Unique Estate Planning Laws

Wisconsin is the only state with a detailed set of property laws for married persons known as “Wisconsin’s marital property law”. Though it is a unique set of laws, Wisconsin’s martial property law (as set out in Chapter 766 of the Wisconsin Code) draws on other “community property” laws from states such as Arizona, California, Texas, and Washington, and others. Although Wisconsin developed these marital property laws, they have much in common with community property states.

We want to highlight that even with these martial property laws, folks moving to Wisconsin from a non-community property state, still might not require a complete redrafting of existing estate plans. It’s best to speak with our lawyers before you start from scratch.

If you’re married and moving to Wisconsin, we advise reviewing your estate plan in light of Wisconsin’s marital property law. If you have an existing trust, we would want to add a very helpful non-probate funding marital property document that can assist in avoiding probate upon death.

We also may want to make sure that certain assets are treated favorably for capital gain step-up purposes on the death of a first spouse, which is allowed under marital property and community property laws. (There are other reasons for an occasional estate plan checkup, as we discussed in an earlier article.)

Last Will and Testament

Generally, a will executed in another state will be valid in Wisconsin if it was valid in the estate where the will was created. We normally do not need to update a will created in another state, simply because of a move to Wisconsin.

A review of your last will and testament would be part of any overall estate plan review to make sure it still best accomplishes your current estate planning wishes. In addition, depending upon the family dynamics, it may be advantageous to update the executor (in Wisconsin referred to as the personal representative) if your currently named executor or personal representative lives out of state.

If probate is anticipated and is not to be avoided, having a personal representative residing in Wisconsin can avoid costly surety bond requirements during the probate process.

Revocable Trust

While a detailed review by an estate planning attorney to determine if it complies with Wisconsin law is recommended, normally a revocable trust does not need to be re-drafted due to a move to Wisconsin..

If you are moving from a non-community property state, adjustments maybe needed to your estate plan to ensure that it operates smoothly. The estate plan should take advantage of the marital property law to help avoid capital gains taxes upon the death of the first spouse, and to avoid probate on the first or second spouse to pass.

If moving from a non-community property state, married persons may each have their own trusts. These should be reviewed by an experienced estate planning lawyer to discern the advantages and disadvantages of a Wisconsin joint trust.

Durable Powers of Attorney

We normally do not need to update durable power of attorney documents if they are well drafted and meet the current needs of the clients. We do like to review them to make sure that agents do not need to be updated due to the move and to make sure that they are comprehensive and well written.

Power of Attorney for Heath Care

Unlike the documents mentioned above, we strongly suggest establishing new Wisconsin Power of AttorneySee Power of Attorney for Health Care, Financial Power of Attorney, and Durable Power of Attorney. More for Health Care document as an advance health care directive when moving to Wisconsin. Advance health care directive statutes vary significantly from state-to-state. Wisconsin is no exception.

Wisconsin has a unique advance directive statute relating to health care power of attorney requirements. For example, if you were not able to handle your health care, and your non-Wisconsin advance health care directive did not specifically authorize your health care agent to sign for entry into an assisted living or nursing home, your agent would be required to obtain a guardianship from a court. The process of obtaining a guardianship takes time and money. Thus, creating new Wisconsin Power of Attorney for Heath Care documents is an important estate planning update when moving to Wisconsin.

Moreover, you may want to update your health care agents to name someone who lives in closer to you. Although having the right person appointed as your health care agent is more important than having a local person appointed, having the right local person for health care decisions can be helpful.

Asset Review

Moving to a new state is always a good time to review your assets and how they interact with your estate plan. Any detailed review should consider some key questions:

• Does real estate need to be transferred to a trust?
• Do old or new bank accounts need to be included in a trust plan or name beneficiaries?
• Do your current assets and new accounts function and work property with your estate plan?

Our experienced estate planning attorneys have been helping families moving to Wisconsin ensure that their respective estate plans are in keeping with Wisconsin’s estate planning law.

We’re Here to Help

If you’re in the process of moving to Wisconsin, or if you’ve recently move to the state, we invite you to contact our firm for a review of your estate planning documents. We would be delighted to schedule a time to meet with you and consider your needs.

The post Do I Need to Update My Estate Plan When I Move to Wisconsin? appeared first on Wokwicz Law Offices, LLC.

Admittedly, sometimes it can be clear when you need an estate planning elder law attorney. For example, when a loved one enters a nursing home for a long term stay, you will want to discuss options for protecting assets. You will want to review powers of attorney or trusts to ensure everything is in order. Or, when someone passes away, and there are assets that require trust administration or probate, you will want guidance on winding up the trust or probate.

However, sometimes it is not so obvious that you should contact an estate planning elder law attorney. After all, who wants to think about death, disability, or nursing homes when you are feeling good and everything is going well in life?

Below we summarize some reasons to consult with an estate planning elder law attorney. Some reasons are more obvious, but what is important to remember is that planning should be done well in advance of a life event that requires an estate planning elder law attorney. When someone is in crisis, and immediate emergency estate planning is needed, it’s often too late to accomplish the desired goals. At the very least, it is less orderly and more expensive. Avoiding crisis estate planning is always a good idea.

Ideally, every adult would have at least a basic estate plan. A basic estate plan typically will include a Last Will and Testament, Durable Power of Attorney, and a Power of Attorney for Health Care.

Young Adults May Want to Prepare a Basic Estate Plan

For a young adult with no children and little or no assets, a Last Will and Testament may not be less essential than Wisconsin powers of attorney documents. Properly prepared power of attorney documents are likely to be more important estate planning tools.

For young clients without children, significant assets, or a house, a Last Will and Testament may be of limited benefit. However, powers of attorney can be very important in the event of an accident, international travel, or a semester abroad where someone “back home” should be in a position to manage finances, transfer funds, pay bills, or undertake other financial matters that are sometimes not easily dealt with when overseas.

Moreover, with powers of attorneys in place – both a durable financial power of attorney and power of attorney for health care – young clients  often appoint parents or their sibling to be in charge of their health care and financial matters in the event of an accident where the young person can no longer make his or her own decisions.

When Younger Clients Need a Will

There are also times when a Last Will and Testament is essential, even for younger clients. For example when a younger person starts buying real estate such as a house that does not name beneficiaries. Or, where the natural heirs referred to as “heirs-at-law” are not the preferred probate beneficiaries in the event of death. For example a child maybe estranged from one or more of his or her parents or siblings and want to make it clear, by use of a Last Will and Testament, who he or she wants as beneficiaries as well as make it clear who is “cut out” and should not receive assets in the event of death. Often a transfer on death deed can be used to name a beneficiary on a younger persons house, such as a parent, to avoid probate and to distribute the house to the person or persons who should receive it in the event of death.

Middle Age or Older Adults Need a Suitable Estate Plan

Without exception, middle age and older adults will benefit from a proper estate plan. Your assets, family situation, and other factors will determine what type of estate plan you should have. Working with an experienced and skilled estate planning law firm will help you determine what is appropriate and cost effective.

Depending on your specific circumstances, any number of approaches may be most suitable:

• A basic estate plan may be appropriate for simple estates.
• A revocable trust estate plan may be best suited to avoid probate.
• A more complex estate plan to protect assets from a nursing home may be the right approach.
• For second marriages or those with children outside of marriage, contractual wills or marital property agreements (post nuptial agreements) may be advised.

By planning ahead while you are healthy, you get the maximum benefit and ability to protect assets, and to save money from probate fees, nursing home costs, and taxes. Proper early planning can help protect our loved ones from unnecessary complications, taxes, and fees.

Even if you already have an estate plan in place, when there has been significant asset changes, new investments, or job changes, it is important to make sure that your estate plan properly incorporates these assets.

When Children Arrive: A Plan Is a Must Have

When you have a new child, or if you already have a child or children, estate planning takes on major importance. A house, or life insurance or retirement accounts should be properly dealt with, even in the absence of significant assets.

The Benefits of Trusts for Children

A solid estate plan will make sure that your assets are used for your children, as you intend, if you were to pass away. Through a trust or a will with a trust, you can appoint a person or institution that you want to be in charge of your assets, if you pass away, for the benefit of your children. A trust can also allow the use of your assets to pay for your children’s educational expenses, health care needs, and support needs. (In a previous article, we talked about the advantages of trusts for young or minor children.)

The Costs and Risks of “No Trust” with Children

Without a proper trust or a will with a trust, and without proper beneficiaries named, your funds are not likely to be used as you would intend. For example, if a parent passes away and his or her assets go to minor children and not to a trust for the children, the children will have guardians appointed by the court. Those guardians will then control the assets.

The problems with that approach are multifold:

• It is expensive as it adds legal and court costs.
• It is possible that a less than ideal person will be placed in charge of your children and assets.
• When your child turns 18, if there are funds left, the child will receive these assets and be able to do as the child pleases. There is a risk that an 18-year-old might not make sound financial decisions.

You can place assets in a trust to be used for the child’s education, health care and support needs until the age that you select – such as 25 or 30. When your child reaches the specified age, if the child can responsibly manage the assets, the trust can distribute the remaining assets to the child.

Using a Will to Name Guardians

With a will in place, you can name who should be guardian. By designating guardians for minor children, you select who will be in charge of your child’s personal needs, such as religious, health care, living, and educational decisions. You can eliminate much family fighting over who should be in charge. You can give yourself peace of mind that the people who raise and make life decisions for your children are the people that you named.

The naming of guardians is perhaps even more important where a child is developmentally disabled, requiring a guardian beyond the age of eighteen. (We previously shared more information on naming guardians for children.)

After Marriage or Divorce

Due to Wisconsin beneficiary and estate planning laws, we highly recommend reviewing your estate plan after you get married or divorced. There are a complex set of laws that will significantly change existing beneficiary designations and estate planning documents including wills, trusts, and powers of attorney. To be clear, if you do nothing, Wisconsin law will change your estate plan for you, often in unintended ways.

A detailed review and analysis of what should be updated is important to ensure that Wisconsin laws do not adversely effect your estate plan.

Marriage and Divorce: Children Outside of That Marriage

In a marriage with children outside of the marriage, there is added urgency to create a proper estate plan. Without a proper plan, Wisconsin law will include both the new spouse and non-marital children automatically, often in ways that you did not intend.

By being proactive, you can choose who will be in charge of your affairs. You can set what will happen to your assets by creating a proper estate plan. We previously discussed divorce and marriage in a serious of articles:

• Wisconsin Last Wills and Testaments and Divorce
• Divorce and Trusts in Wisconsin
• Powers of Attorney and Divorce in Wisconsin

We’re Estate Planning Elder Law Attorneys

As experienced estate planning and elder law attorneys, we can help determine how best to plan for your future. In practice since 1958, we work to achieve your aims in the most efficient and cost effective way possible. Contact us to chat about your needs and goals.

The post Estate Planning Elder Law Attorney: When to Contact? appeared first on Wokwicz Law Offices, LLC.

Estate Plans Geared to Avoid a Need for Updates

As experienced attorneys, we draft estate plans to be flexible. We aim for our clients’ estate plans to not require updating. From our first meeting, we work with our clients to name successors, alternate agents, and trustees so that the death of one person does not normally require an estate planning update. We also discuss what would happen if a beneficiary predeceased them, so that we can plan for this through a last will and testament or trust.

Do Estate Plans Need to Be Updated Every Five Years?

The simple answer is “No.” Most well-drafted estate plans do not need to be updated every five years. However, there are circumstances where a review and edited estate plan make sense. For example, changes in family circumstances such as a death, or significant changes in assets, are both good reasons to review your estate plan.

As a matter of good practice, reviewing your Wisconsin estate plan every three to five years is a good idea. Life can bring many changes in a single year, much less over three to five years. Reviewing the plan to confirm that it still matches the needs of your personal situation can save headache and disappointment when the estate plan is implemented.

What Kind of Life Events Count as Significant?

Most well-drafted estate plans will take into account the death of a child or the death of a spouse, and can accomplish what you wanted in these events. However, after significant life changes sometimes you will want to reconsider who is to be in charge of your affairs or who is to receive certain assets due to the death of a family member or a marriage, divorce, or birth.

Here are some of the typical life changes for which we suggest an estate plan checkup:

Young Children Have Grown Up

Young children have grown up and now the parent would like to name children to be in charge of their health, will, and trust affairs. Perhaps when the children were younger, a sibling or grandparent was named to be a trustee or agent under a power of attorney. Maybe grandchildren are now to be included as beneficiaries for college or educational expenses in a trust or other revisions or changes of heart.

Marriage or Divorce

Upon your marriage or divorce, it is crucial to have your estate plan reviewed and updated. The marriage or divorce of a child may also given reason for an estate plan checkup.

Changes in Your Family Tree

Additional children, grandchildren, or children or grandchildren born with special needs may require special attention. The passing of a child or grandchild could impact who you  name as agents under a power of attorney, as trustee, or as beneficiary.

Tax or Law Changes

The impact of any tax or Wisconsin estate planning law changes should be reviewed.

Property or Asset Changes

Ownership of new property, and how it was acquired and titled, could require updates or suggestions on how better to incorporate new property into the estate plan.

Unknown Issues

As experienced attorneys, we do not expect our clients to know all of the issues. These reviews give us an opportunity to explore and identify issues that the client has not considered.

Our Wisconsin Estate Plan Review Process

In our estate plan review process, our estate planning attorneys walk with our clients through a step-by-step process to explore and document life changes that have occurred in recent years. We will share and discuss significant Wisconsin estate planning law changes that may have taken place.

For simple estates, our attorneys can review and discuss the current documents and any life changes in as little as half an hour. For more comprehensive estate plans, significant assets, or complicated tax issues, our review tends to be more involved, and may require more than one meeting. However, the review of most basic estate plans take place during the course of a single meeting.

What to Bring to an Estate Planning Checkup?

Much like when first setting up an estate plan, we will want to know your current assets, who owns the assets, and what beneficiaries are named on certain assets. Additionally, we will want to know about changes in the family, new family issues that may have arisen, family deaths or births, and any other concerns that you may have relating to estate planning, other life changes, or family members.

It is important to bring all of your current estate planning documents with you, including the following:

• trust (irrevocable trusts or revocable trusts or both);
• durable power of attorney for finances (Durable Power of Attorneys);
• advanced health care directives (Power of Attorney for Health Care);
• last wills and testaments (wills);
• marital property agreements;
• deeds; and
• a list of assets and current family members.

It can be helpful to review what we suggest you think about and bring to a first estate planning meeting.

What Happens During an Estate Plan Checkup?

We will look over the updated asset information, family information, and current estate planning documents. We will then review all of this estate planning information with you to discuss items such as the following:

Power of Attorney For Health Care

Does this document still reflect your values? Will it provide the care you want to receive at the end of life? Are changes needed as to your artificial life support directives, or are changes needed to the agents (people) you selected to be in charge of your health care decisions if you can no longer make your own health care decisions?

Durable Power of Attorney for Finances

Are changes needed to the agent (also called attorney-in-fact) you selected to be in charge of your finances? Maybe a selected child is no longer trustworthy or is in a difficult marriage and you want the child removed. Maybe a child has become very busy or has moved away, even out of the country? Perhaps you want to select different agents to help with your financial affairs if you can no longer do so.

Last Will and Testament and Trust

Are changes needed to the personal representative or trustees who will be in charge of your assets upon death? Who are the beneficiaries of the will or trust? Are revisions needed due to life changes or deaths?

Beneficiaries and Asset Titling

Are changes needed to old beneficiary designations due to changes or deaths? Should certain assets be placed in trust to avoid probate? Should a trust be created to avoid probate? Are newly acquired assets set up to name proper beneficiaries? Are there other issues with integrating assets into your current estate plan?

Other Issues

Have there been any significant changes in estate planning law? Is it time to think about protecting assets from a nursing home or Medicaid? Are there new issues such as a marriage or divorce? The list of “other” issues really is exhaustive.

The estate plan checkup process involves an in-person meeting to “walk through” the current estate plan and to discuss any potential changes. It is crucial that we meet directly with our client so that these issues can be thoroughly, openly, and candidly discussed.

A Cost-Effective Part of Successful Estate Planning

For a relatively small investment, you can review your plan and discuss possible updates due to changes in your heart, the law, or your family.

As experienced Wisconsin estate planning attorneys, we can efficiently review your current estate planning documents, assets, and family situation, to determine if any updates are needed or advised. Moreover, we have decades of experience drafting, reviewing, and updating all types of estate plans. We welcome the opportunity to meet with you about yours.

The post How Often Do I Need an Estate Plan Checkup? appeared first on Wokwicz Law Offices, LLC.

In this article, we discuss what makes a Last Will and Testament a simple will, versus a complex will. We will also detail why a simple will often does not deliver the best estate planning solution in Wisconsin.

Defining “Simple Will”

The term “simple will” is used by estate planning attorneys to describe a will that meets certain characteristics. A simple will is generally a will that is not controversial as it follows the Wisconsin laws of intestacy*, is not likely to be challenged after death, and is easy to draft, create and enforce.

A partial definition of a simple will includes:

• The entire estate is left to your spouse, if married.
• If not married, or if your spouse predeceases you, then your entire estate is left equally to all of your children without a trust for your children. All of your children must also be adults.
• No children are being left out of the will and no children are getting more or less than another child.
• If married, there are not any children outside of the marriage. In other words, all of the children are legally children of both you and your spouse.
• Your assets that do not pass through the will, such as IRAs or life insurance, name your spouse first, if married, and then equally to your children. You also do not have joint assets with a child.

Advantages of a Simple Will

Where appropriate, a simple will has several valuable advantages:

1. It can cost less to draft and complete, so reduces attorney fees.
2. It can help to confirm your intended distributions, even if all of your assets have beneficiaries named, and can be a back-stop in case a beneficiary designation fails after death.
3. It can name who you want to be in charge of your estate after death, by naming an executor (called a personal representative in Wisconsin), to help limit any fighting over who is to be in charge.
4. It confirms your intention to leave property to your spouse first, if married, and then equally to all of your children if not married, or if your spouse predeceases you to leave your assets equally to your children.

Where A Simple Will Is Not Enough

Some of the following dictate that a simple will alone cannot be used by itself to accomplish a client’s estate planning goals in Wisconsin:

• A will does not alter nor change beneficiaries on bank account, IRAs, Life Insurance or other assets and be coordinated with non-probate assets that do not go through the will.
• A will does not change jointly titled property that would normally go to the survivor named on a joint account or joint asset.
• A will alone cannot address who will be in charge of your health care if you are not able to handle your health care due to illness or incapacity during your lifetime. A Power of Attorney for Health Care is needed to address your health care desires in order to avoid a guardianship.
• A will alone does not address who will be in charge of your finances, if you are not able to handle your financial affairs due to illness or incapacity during your lifetime. A Durable Power of Attorney for finances is needed to address who will handle your financial affairs while you are alive if you cannot do so on your own.
• A will does not avoid probate. Additional estate planning, such as joint titling of assets, or transfer on death deeds or a revocable or irrevocable trust will be needed, along with naming proper beneficiaries and coordinating assets with your estate plan.
• You want to protect assets from a nursing home and other long term Medicaid costs.

Some Family Situations Require More

The following type of family situations will normally require more than a simple will to accomplish a client’s goals:

• You have children outside of the marriage, if you are married. In other words one or both spouses have children that are not children of the other spouse.
• You and your spouse have property that is kept separate and that will not be distributed to your spouse at death, if you are married. For example in a second marriage where on the first to pass certain assets will not go to the surviving spouse.
• Distributions will not be made equally to your children.
• Certain assets, such as a house, will be given to certain children or a certain child and not shared equally by all of the children.
• Your children are younger and require a trust so that a trustee can manage a child’s inheritance, using it for such matters as the child’s education, support and health care needs.
• You have a disabled child, a child with financial problems, or a child who cannot handle money, thereby requiring a trust rather than passing the inheritance outright. A special needs trust, a trust for minor or younger children within the will, or a revocable trust maybe required to accomplish your goals.
• You have a number of specific bequests where you want to leave certain individuals or charities a sum of money or other property or monetary bequests.

Our Estate Planning Process Will Identify Preferred Solutions

In practice since 1958, we understand the finer points of proper estate planning. We have helped thousands of Wisconsin families with their estate planning needs. Over the years, we have come to treat estate planning as a process, where gathering information is just the beginning.

During conversations with our clients, we can identify and suggest preferred approaches to drafting the most suitable estate plan for you. Where appropriate, we will suggest a simple will. More often than not, we will suggest alternatives to a simple will and discuss  solutions to accomplish our clients’ goals as efficiently and as cost effectively as possible.

We invite your to contact us today to discuss the best approach for your estate planning needs.

* The Wisconsin intestacy laws apply where a person dies without a will, which is called dying “intestate”.

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