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Business succession planning is essential to the future of your life’s work – your business. A business succession plan involves issues of ownership, management, and tax savings to create a smooth transition of your business to future owners. The existence of a succession plan sends the message that you’re committed to your business’ long-term growth and assures the confidence of your customers, lenders, employees, and key suppliers.
The concerns facing business owners are unique – we respond by creating plans that will adapt to the changes you will inevitably encounter. Whether your situation is straightforward or complex, our attorneys are able to implement creative and flexible strategies to fulfill your personal and business needs. We will work closely with you to discover your personal goals and objectives, identify potential pitfalls, and develop innovative solutions.
For over 80 years, our attorneys have counseled business owners and families on various succession strategies designed to maximize business value and minimize state and federal taxes. Specific services include:
Our attorneys encourage a team approach and will work directly with your accountant, financial planner, life insurance agent, and other professional advisors to ensure the various components of your succession plan are properly integrated.
Founded in 1920, Ruder Ware provides business, employment, estate planning, and litigation services through its offices in Wausau, Eau Claire, and Green Bay, Wisconsin. A full-service law firm, over 40 attorneys provide clients with a one-stop approach to their legal needs. Ruder Ware, Business Attorneys for Business Success.
Posted on September 20, 2021 by Linda M. Danielson
So you’ve received an inheritance and you’re married. The person who left you the inheritance probably intended for it to benefit you, not your spouse, if you get divorced. How do you protect the inheritance? Wisconsin law provides limited protection. Under Wisconsin’s Marital Property Act, which governs the classification of assets during marriage and on […]
Posted on September 1, 2021 by Kayla E. Murphy
Estate planning is a process that must be customized to fit each individual’s unique situation. Each individual has their own priorities and issues to address. The priorities and issues for an unmarried individual are often different than those for married couples. Some of the common priorities and issues that arise in estate planning for unmarried […]
Posted on August 4, 2021 by Kayla E. Murphy
If you’re preparing to send a child off to college this fall, you should add two documents to your back-to-school checklist: (1) a power of attorney for health care, and (2) a durable power of attorney for finances. Without these two documents, you may not have the authority to make health care decisions or manage […]
Posted on July 22, 2021 by Ashley L. Hawley
“Probate” is a legal term for the Court process of transferring assets out of a deceased person’s name and to that person’s heirs and/or beneficiaries. The difference between the term “heir” and the term “beneficiary” is that an heir is someone who is entitled to receive the assets of a deceased person who died without […]
Posted on June 16, 2021 by Shanna N. Yonke
Summertime is a special time of year in Wisconsin. It brings many families to cabins where they create memories and traditions that will be cherished forever. However, many problems arise if families do not create a plan for the future ownership and management of the family cabin. The cabin may be subject to the claims […]
Ruder Ware’s Trusts & Estates blog has featured several posts (for example, Call to Action: Review Your Estate Plan in Light of the SECURE Act and Why SECURE Act Matters to You) on the SECURE Act, a federal law effective January 1, 2020, that made significant changes to the payout provisions of inherited retirement benefits, […]
In the United States Congress, there is an arduous journey before a bill becomes law. See the classic School House Rock! video, “I’m Just a Bill.” But there is a common theme running through some gift and estate tax bills that have been introduced in Congress this year. That is: an appropriate way to raise […]
Posted on March 17, 2021 by Ashley L. Hawley
Our team here at Ruder Ware has focused previous blogs and other educational materials on ways to avoid adult guardianship (see Related Articles section at the end of my post); however, there may be some instances where guardianship is unavoidable. Earlier this month, I attempted to simplify the guardianship process in my vlog. This blog […]
Posted on February 17, 2021 by Shanna N. Yonke
Earlier this month, I provided a very brief overview of the estate tax in a vlog. You can view the vlog here. In this blog post, I’ll expand on estate tax basics. What is the estate tax? At its foundation, the estate tax is a tax imposed on the transfer of property upon death. It […]
Posted on February 11, 2021 by Kayla E. Murphy
With Congress still negotiating a third round of stimulus payments, you should carefully consider when to file your taxes this tax season. Tax season begins February 12th and ends April 15th. Filing your taxes earlier or later within that time period may determine whether or not you receive the third stimulus payment and how much […]