Many people consider an estate plan a finished document. The truth is that individuals should review and revise elements of the plan on a regular basis. Even if you do not update the plan every three to five years as recommended, it is crucial that you make changes...
Estate planning
Why avoid joint ownership when planning for incapacity?
When preparing for what happens with your Wisconsin estate in the future, you have to consider many factors. One of them may be your potential incapacity and, therefore, inability to make decisions on your finances. You can name a close family member, usually a child,...
Your Time Is Valuable. Let’s Get a Jump Start on the Estate Planning Process
Time seems to be the one thing we just can’t get enough of. This is especially true if you are one of our nurses or frontline healthcare workers. You work tirelessly caring for others and may not have a lot of free time to work on your estate planning. If you are able...
Do you have to review your estate plan?
Once you've written your estate plan in Wisconsin, you should make a plan to revise it every few years. An outdated will can be just as bad as no will at all. Instead of writing your will once and forgetting about it, think of it as a fluid document that changes as...
What is digital property?
When someone dies in the state of Wisconsin, their will dictates how the court must divide their assets. This typically includes physical properties like cars and houses as well as financial assets like life insurance policies and savings accounts. However, an...
What is a trustee?
When you place your assets into a trust in Wisconsin, you'll need someone who can manage them on behalf of the beneficiary. This is an especially important decision because you'll want someone who will conscientiously follow your directives after you're gone. A...
When and why you need a will
In general, it is better to have a will than to not have one. If you die without a will or some kind of estate plan in place that determines how your assets will be distributed, such as a trust or beneficiary designations, the state of Wisconsin decides what will...
How long does probate take?
When an individual passes away in Wisconsin, their estate might go into probate. If you're one of their heirs or an individual named in their will, you're probably wondering how long probate will take. Unfortunately, there's no way to give an exact answer. There are...
Estate planning enables massive wealth transfer
Wisconsin has many families with significant assets that will get transferred from one generation to the next. The potential asset transfers in the United States are anticipated to reach up to $68 trillion over the next 25 years and set a national record for total...
Common myths about estate planning
Estate planning can be a large undertaking, particularly for older people who have accumulated a lot of assets. As a result, many people in Wisconsin tell themselves myths and falsehoods about estate planning so they can keep putting it off. But neglecting to plan...