Posted on January 15, 2020 by Kayla E. Murphy
For many people, the first time they start thinking about an estate plan is when they start to have family members that depend on them financially – typically, a spouse or a child. Let’s take, for example, a young married couple with young children. The couple may think they need a will, but they might […]
Posted on January 7, 2020 by Ruder Ware Estate Planning Attorneys
The federal appropriations bill enacted into law on December 20, 2019 changed federal law in ways that may affect your retirement assets, including 401(k) plans and IRAs. Those changes, often referred to as the “SECURE Act,” may affect you during your lifetime and also the way those retirement assets may be distributed to your beneficiaries […]
Posted on January 2, 2020 by Mary Ellen Schill
The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2020, and the decrease in rates reflect the decrease in the fixed and variable costs of operating a vehicle. Effective January 1, 2020, the optional standard mileage rates […]
Posted on December 30, 2019 by Sara J. Ackermann
Here in Wisconsin marijuana is still illegal. However, this week our neighbor Illinois becomes the 11th in our nation to legalize marijuana which may cause complications for Wisconsin employers who recruit or have locations in that state. Our neighbor Minnesota has had marijuana legal for medicinal purposes since 2014 (recreational use is not yet legal […]
Posted on December 19, 2019 by Ashley L. Hawley
Picture this: you are lying on the beach in sunny Aruba, thinking about your best friend, Kristin, who valiantly volunteered to watch your three children while you and your spouse got away from the Wisconsin winter for the first time in ages – when all of a sudden you see a hotel staff member racing […]
Posted on December 18, 2019 by Sara J. Ackermann
Late last week the Department of Labor announced a Final Rule that will allow employers to more easily offer bonuses and benefits without worrying about the regular rate of pay. The rule is the first major change to the regulations governing regular rate requirements under the Fair Labor Standards Act (FLSA) in over 50 years. […]
Posted on December 12, 2019 by Andrew P. Raymonds
On Wednesday, the House of Representatives passed the Farm Workforce Modernization Act, easing immigration for agricultural workers. The bill would give “blue cards” to agricultural workers who have worked at least 180 days on farms over the past two years. They would become eligible for five-year renewable visas that would require working at least 100 […]
Posted on November 14, 2019 by Aric D. Burch
It is common for a client whose spouse is receiving Medicaid to lack adequate estate planning to protect those Medicaid benefits in the event the client dies before their spouse. Yet, after all of the time and energy spent to qualify for Medicaid, it would be awful to see those benefits lost simply because proper […]
Posted on November 11, 2019 by Linda M. Danielson
While most businesses use real estate, unique planning issues arise for family-farm owners because of the importance of real estate to the farm and family. There are several reasons for that. Family farms are not as mobile as other businesses. Family-farm owners usually have strong emotional attachments to the land. They treat the land they […]
Posted on November 6, 2019 by Mary Ellen Schill
On November 6, 2019 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. All of the limits shown below have increased from last year. Qualified Plan Limit Cost-of-Living Adjustments 401(k) and 403(b) elective deferral limit 2019-$19,000 2020-$19,500 $200,000 compensation limit 2019-$280,000 2020-$285,000 $160,000 defined benefit limit 2019-$225,000 2020-$230,000 […]