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Holiday Giving: Will My Gifts Have Tax Consequences?

Posted on December 14, 2020 by

The holiday season is a time of giving! With Christmas arriving next week, you might be rushing to find last minute gifts for the special people in your life. Have you considered potential tax consequences of those gifts? The annual gift exclusion for 2020 is $15,000. This means that an individual donor may gift $15,000 […]

Financial Powers of Attorney

Posted on October 23, 2020 by

Attorney Ashley Hawley closes out Ruder Ware’s honoring of National Estate Planning Awareness Week with an informative post on financial powers of attorney.  The concept of a financial power of attorney is that you draft a document naming an agent who can to step into your shoes to make financial decisions on your behalf. Video Transcript: […]

The Importance of Health Care Powers of Attorney

Posted on October 21, 2020 by

Our Estate Planning Team continues to honor National Estate Planning Awareness Week with their second vlog post.  Attorney Kayla Murphy educates viewers on what a health care power of attorney is, what their responsibilities are, and why it’s important you have this document drafted. Video Transcript: My name is Kayla Murphy and I’m an attorney on […]

How to Create a Valid Will-Ruder Ware’s Estate Planning Team Recognizes National Estate Planning Awareness Week

Posted on October 19, 2020 by

Our Estate Planning Team felt the best way to honor National Estate Planning Awareness Week was to launch their video blog.  The vlog will feature several members of the team speaking on estate planning-related topics important to our clients and friends.  In the inaugural post, Attorney Shanna Yonke discusses how to create a valid will. […]

Peter, Paul, and Mary Should Make Large Gifts – Now!

Posted on July 30, 2020 by , and

Peter, Paul, and Mary have done well for themselves. Each has a nice home, a seasonal residence, and a large IRA. Coincidentally, each also has an additional $11 million worth of real estate, savings, brokerage accounts, and closely-held business interests. We advised Peter, Paul, and Mary that in 2020 each has a federal gift and […]

IRS Provides More Retirement Plan and IRA Relief

Posted on June 24, 2020 by

Yesterday, the IRS issued additional guidance regarding two hot topics over the last six months: the waiver of the 2020 required minimum distributions (RMDs) from retirement plans and IRAs, and the change in the required beginning date for RMDs from age 70 ½ to age 72. Extension and Expansion of 60-Day Rollover for 2020 RMDs […]

Why SECURE Act Matters to You

Posted on May 30, 2020 by

The SECURE Act, a federal law enacted on December 20, 2019, made significant changes to how retirement assets, including 401(k) plans and other IRA’s, are treated both during our lives and for our beneficiaries after death. This article will briefly summarize the aspects of the Act that likely matter most to you. During Your Life […]

IRS Provides Information on Where to Send Deceased Individual’s Stimulus Check

Posted on May 7, 2020 by

On the same day we published the article My Deceased Family Member Received a COVID-19 Stimulus Check, Now What? the IRS provided guidance on how to return stimulus payments that were made under the CARES Act to deceased individuals. If your deceased family member or relative received a paper check by mail, you should follow these […]

My Deceased Family Member Received a COVID-19 Stimulus Check, Now What?

Posted on May 6, 2020 by

There has been significant publicity surrounding the issue of deceased individuals receiving stimulus checks under the CARES Act.  It is far more common than you may think, simply because of the speed in which our government operated to send out the payments.  The stimulus checks were issued to individuals that met certain income requirements and […]

You Have Been Named as an Agent Under a Wisconsin Power of Attorney: Now What?

Posted on April 29, 2020 by and

Maybe you were informed ahead of time or maybe you found out when you were first called upon to act.  In any event, someone (a parent, a sibling, a friend, a neighbor) named you as their agent or attorney-in-fact under a Wisconsin power of attorney for finances.[1]  Now what?[2] What Are Your Rights and Responsibilities?  […]