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Madison Wisconsin Estate Planning Blog

Friday, October 18, 2013

A Living Will or Health Care Power of Attorney? Or Do I Need Both?

Many people are confused by these two important estate planning documents. It’s important to understand the functions of each and ensure you are fully protected by incorporating both of these documents into your overall estate plan.


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Wednesday, October 16, 2013

National Estate Planning Awareness Week

MADISON, WI, October 1, 2013 PRESS RELEASE --

October 21-27, 2013 is National Estate Planning Awareness Week,

As proclaimed by Congress in 2008.  The congressional resolution noted that "Many Americans are unaware that lack of estate planning and financial illiteracy may cause their assets to be disposed of to unintended parties by default through the complex process of probate."


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Tuesday, October 15, 2013

Wilson Law Group Welcomes New Attorney-Christopher Martin

NEWS
FOR IMMEDIATE RELEASE

Wilson Law Group, LLC Announces New Attorney

Madison, WI (September 3, 2013) -- Wilson Law Group, LLC announces that Christopher D. Martin has joined the law firm as an associate attorney.  Attorney Martin will focus his practice on Estate Planning, Business Planning, and Trust Administration.


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Friday, October 11, 2013

Medicare vs. Medicaid: Similarities and Differences

With such similar sounding names, many Americans mistake Medicare and Medicaid programs for one another, or presume the programs are as similar as their names. While both are government-run programs, there are many important differences. Medicare provides senior citizens, the disabled and the blind with medical benefits. Medicaid, on the other hand, provides healthcare benefits for those with little to no income or assets.


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Friday, October 4, 2013

Veteran's Aid & Attendance Benefit: Avoid Scams and Get Trustworthy Advice

Many veterans are unaware of the Aid and Attendance benefit, a component of the Veteran’s Administration Improved Pension that was designed to provide much-needed financial help to elderly veterans and their spouses. Even veterans who know about this pension benefit, however, are frequently targeted by scam artists attempting to take advantage of elderly or infirm veterans and their families.


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Friday, September 20, 2013

Six Events Which Can Trigger Will Revisions

Creating a Will is not a one-time event. You should review your will periodically, to ensure it is up to date, and make necessary changes if your personal situation, or that of your executor or beneficiaries, has changed. There are a number of life-changing events that require your Will to be revised, including:

Change in Marital Status: If you have gotten married or divorced, it is imperative that you review and modify your Will. With a new marriage, you must determine which assets you want to pass to your new spouse or step-children, and how that may relate to the beneficiary interest of your own children. Following a divorce it is a good practice to revise your Will, to formally remove the ex-spouse as a beneficiary. While you’re at it, you should also change your beneficiary on any life insurance policies, pensions, or retirement accounts. Estate planning is complicated when there are children from multiple marriages, and an attorney can help you ensure everyone is protected, which may include establishing a trust in addition to the revised Will.


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Friday, September 13, 2013

Common Estate Planning Myths

Estate planning is a powerful tool that among other things, enables you to direct exactly how your assets will be handled upon your death or disability. A well-crafted estate plan will ensure you and your family avoid the hassles of guardianship, conservatorship, probate or unpleasant estate tax surprises. Unfortunately, many individuals have fallen victim to several persistent myths and misconceptions about estate planning and what happens if you die or become incapacitated.


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Friday, September 6, 2013

Gun Trusts: Targeted Estate Planning

If you have a gun collection, your estate plan may be missing the mark if it fails to include a specially drafted gun trust. The typical estate plan provides for tax saving strategies, probate avoidance and beneficiary designation of various assets. However, some assets pose additional issues that must be carefully addressed to avoid unintended consequences in the future. Firearms, in particular, are regulated under federal and state laws and demand careful attention from your estate planning attorney.


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Friday, August 23, 2013

Do Heirs Have to Pay Off Their Loved One's Debts?

The recent economic recession, and staggering increases in health care costs have left millions of Americans facing incredible losses and mounting debt in their final years. Are you concerned that, rather than inheriting wealth from your parents, you will instead inherit bills? The good news is, you probably won’t have to pay them.


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Friday, August 16, 2013

Remarried? Protect Your Children with Proper Planning

If you are married for the first time and are working on your estate plan, the decisions about where the assets go are usually easy. Most parents in that situation want their entire estate to go to the surviving spouse, and upon the death of the surviving spouse, equally to their children. There may be difficult decisions about who will serve as guardians of the children or trustees over the children’s property, but typically it’s easy to decide where the property will go.


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Friday, August 9, 2013

Should You Withdraw Your Social Security Benefits Early?

You don’t have to be retired to dip into your Social Security benefits which are available to you as early as age 62.  But is the early withdrawal worth the costs?

A quick visit to the U.S. Social Security Administration Retirement Planner website can help you figure out just how much money you’ll receive if you withdraw early. The benefits you will collect before reaching the full retirement age of 66 will be less than your full potential amount.


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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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| Phone: 608-833-4001
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