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I Want to Avoid Probate…Right?

Posted on February 14, 2019 by

In my opinion, education is the most impactful aspect of my role as an estate planning attorney.  I often tell the story that when I first decided upon estate planning – over ten years ago – I excitedly told my husband that I had settled upon my specialty.  He responded supportively – “That’s great!” …So, […]

Will the Nursing Home take my house?

Posted on January 16, 2019 by

When faced with the possibility of paying for nursing home care, many people I meet with are concerned about what will happen to their house. Inevitably, I am asked, “Will the nursing home take my house?” To protect the house, clients want to immediately give it away to their child or children. Although this sounds […]

Create Your Emergency Money List

Posted on December 28, 2018 by

If you are married, it is likely that either you or your spouse assume primary responsibility for financial matters, like paying your bills, filing your tax returns, choosing your investments, buying insurance, and applying for loans.  If you are single, then you are probably the only person who knows everything about your finances.  In either […]

Avoiding Guardianship

Posted on December 28, 2018 by

The term “Guardianship” makes most people think of a child whose parents passed away or are in the process of getting divorced.  However, in the estate planning arena we speak of Guardianships for adults.  In Wisconsin, a Guardian is an agent, appointed by the Court, to take over for an adult individual who becomes incapacitated […]

What Kind Of Property Owner Are You?

Posted on December 28, 2018 by

You might own a house.  Maybe you own a cabin or cottage, hunting or farm land, or other properties as well.  Regardless of the type of property that you own, the previous owner of the property gave you a deed when you bought the property.  If you bought the property by yourself, the deed named […]

Estate Planning for Blended Families and Second Marriages

Posted on December 28, 2018 by

In today’s world the “traditional family” of a man, woman and their 2.5 children is becoming a lot less common.  The term “blended family” has been coined to describe multiple families that are brought together and integrated into each other.  A blended family can mean that one or both parents bring children from a previous […]

More Planning Tips for Individuals Under New Tax Act

Posted on February 5, 2018 by and

As Shanna Yonke mentioned in her January 22, 2018 Legal Update The New Tax Law Provides Estate Planning Opportunities, President Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017.  The Act (officially, Public Law 115-97) is the most sweeping tax legislation to be enacted in decades.  It is broad in scope, […]

The New Tax Law Provides Estate Planning Opportunities

Posted on January 22, 2018 by

Shortly before Christmas, Congress approved and President Trump signed into law the Tax Cut and Jobs Act.  The new law increases the federal estate, gift, and generation-skipping transfer tax exemptions from $5 million to $10 million, adjusted for inflation.  The inflation-adjusted exemption amount for 2018 has not yet been released by the IRS, but commentators […]

Taxes Under a Trump Administration

Posted on November 11, 2016 by

Donald Trump won more than 270 votes in the Electoral College and thus on January 20, 2017 he is going to become the 45th president of the United States.  In anticipation of that event, congressional tax writers and proponents for tax overhaul are optimistically planning to move bipartisan tax legislation forward in the first part […]

IRS Releases Proposed Regulations That Will Affect the Ability to Transfer Your Family Business to the Next Generation

Posted on August 4, 2016 by

On Tuesday, the IRS released proposed regulations that will prevent owners of interests in a family business from being able to value those interests at a discount when transferring them to the next generation of owners, either through lifetime gifts or transfers at death.  Under current law, a typical planning scenario with a family-owned corporation […]