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Madison Wisconsin Estate Planning Blog

Thursday, September 11, 2014

9/11 Rememberance

We take the time out on this Patriots Day to remember the those who were affected by the events on September 11, 2001.  You will always by in our hearts.


Wednesday, September 10, 2014

Paying for Your Grandchildren's Education

The bond between a grandparent and grandchild is a very special one based on respect, trust and unconditional love. When preparing one’s estate plan, it’s not at all uncommon to find grandparents who want to leave much or all of their estate to their grandchildren. With college tuition costs on the rise, many seniors are looking to ways to help their grandchildren with these costs long before they pass away. Fortunately, there are ways to “gift” an education with minimal consequences for your estate and your loved ones.


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Friday, September 05, 2014

Estate Planning: How Certificates of Shares Are Passed Down

How is the funding of company stock handled if you decide to use a living trust?

Certificates represent shares of a company. There are generally two types of company shares: those for a publicly traded company, and those for a privately held company, which is not traded on one of the stock exchanges.

Let's assume you hold the physical share certificates of a publicly held company and the shares are not held in a brokerage account. If, upon your death, you own shares of that company's stock in certificated form, the first step is to have the court appoint an executor of your estate.

 


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Friday, August 29, 2014

Happy Labor Day Weekend

Observed on the first Monday in September, Labor Day pays tribute to the contributions and achievements of American workers. It was created by the labor movement in the late 19th century and became a federal holiday in 1894.

Wishing you all a safe and relaxing Labor Day weekend from Wilson Law Group!


Thursday, August 21, 2014

Providing for Your Parents in Your Estate Plan
If you are part of the baby boomer generation (born between 1946 and 1964), you may also find that you are a member of the sandwich generation, with responsibilities to both your parents (now or in the future) and your children. This should change the way you think about estate planning—instead of the traditional approach of how to leave assets to your children and future generations, you may also need to include providing for the previous generation (your parents).
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Friday, August 15, 2014

What Does the Term "Funding the Trust" Mean in Estate Planning?

If you are about to begin the estate planning process, you have likely heard the term "funding the trust" thrown around a great deal. What does this mean? And what will happen if you fail to fund the trust?

The phrase, or term, "funding the trust" refers to the process of titling your assets into your revocable living trust. A revocable living trust is a common estate planning document and one which you may choose to incorporate into your own estate planning. Sometimes such a trust may be referred to as a "will substitute" because the dispositive terms of your estate plan will be contained within the trust instead of the will. A revocable living trust will allow you to have your affairs bypass the probate court upon your death, using a revocable living trust will help accomplish that goal.


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Wednesday, August 06, 2014

Common Estate Planning Mistakes Regarding IRAs
For many people, retirement savings accounts are among the largest assets they have to bequeath to their children and grandchildren in their estate plans.  Sadly, without professional and personally tailored advice about how best to include IRAs in one’s estate plan, there may be a failure to take advantage of techniques that will maximize the amount of assets that will be available for future generations.

Read more . . .


Wednesday, July 16, 2014

Limited Liability Company (LLC): An Overview
The limited liability company (LLC) is a hybrid type of business structure, offering business owners the best of both worlds: the simplicity of a sole proprietorship or partnership, with the liability protection of a corporation. A limited liability company consists of one or more owners (called “members”) who actively manage the company’s business affairs. LLCs are relatively simple to establish and operate, with minimal annual filing requirements in most jurisdictions.
Read more . . .


Thursday, July 10, 2014

Incorporating Faith and Values in Estate Planning

For many, passing along religious beliefs or values to the next generation is just as important as passing along financial wealth and tangible assets. Estate planning creates many opportunities to do this, including:

* End-of-Life Care. A health care power of attorney (Advance Directive in some states) lets you name someone to make medical decisions for you in the event you cannot make them yourself. This can be someone who shares your faith and values about end-of-life issues or someone who will honor your wishes. In either case, it is a good idea to provide written instructions about things like organ donation, pain medication (some may want to remain conscious at the end of life), hospice arrangements, even avoiding care in a specific facility. A visit by a priest, rabbi or other member of clergy may be desired. Pregnant women may want to include their preference on medical decisions that would impact the mother and her unborn child.


Read more . . .


Friday, July 04, 2014

Happy Independence Day

Did you know?

During the summer of 1776 some colonists celebrated the birth of independence by holding mock funerals for King George III, as a way of symbolizing the end of the monarchy’s hold on America and the triumph of liberty. Festivities including concerts, bonfires, parades and the firing of cannons and muskets usually accompanied the first public readings of the Declaration of Independence.
 
Have a safe and happy Independence Day from all of us at Wilson Law Group!

Monday, June 16, 2014

The New Wisconsin Trust Code: effective July 1, 2014
Wisconsin has never been considered a leading jurisdiction for the creation and administration of trusts.  Thanks to years of volunteer work by some dedicated Wisconsin attorneys, that perception will change significantly on July 1, 2014, when the new Wisconsin Trust Code will go into effect and replace the current Chapter 701 of the Wisconsin statutes.
Read more . . .


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With Offices in Madison, WI and Evansville, WI, the attorneys at the Wilson Law Group assist clients with Estate & Business Planning, Probate & Trust Administration, Elder Law and Medicaid Planning throughout Southern Wisconsin including Verona, Middleton, Sun Prairie, Cross Plains, Oregon, Black Earth, Janesville, Jefferson, Fort Atkinson, Baraboo, Reedsburg, Richland Center, Mount Horeb, Monroe, Beaver Dam, Dane County, Rock County, Green County, Iowa County, Richland County, Sauk County, Columbia County, Dodge County and Jefferson County.

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