Estate Planning & Probate

 

Proper estate planning must be tailored to your individual needs, your goals, and must consider both the size of your estate and the types of assets you hold.  A proper estate plan is important regardless of the size of your estate, or lack thereof.  We strive to determine what is the most beneficial planning for you and seek to efficiently transfer your assets while minimizing or eliminating estate taxes.  Our services include:  

  • Wills
    A Will sets forth a plan of distribution of your assets, and appoints a Personal Representative to carry out your plan.  Whether you are seeking a Will for the first time, or seeking to amend a previous Will, we can assist you in drafting a Will that accurately reflects your wishes.
  • Trusts
    There are numerous types of trusts depending upon your needs, your goals, and the size of your estate.  A Living Trust is an excellent vehicle to avoid probate, to protect assets for the benefit of a minor child, or to protect assets from being wasted by someone not ready or capable of coming into an inheritance.  Trusts are not a one-size-fits-all proposition.  We will work with you to determine whether a trust is right for you.    
  • Cottage Trusts and Cottage LLCs
    Many families have cottages where they are able to get away and bond with their family.  Cottages are more than an asset; they are a place where families look fondly back at memories of their childhood and the past.  As you get older, you want to ensure that the family cottage stays in your family for future generations.  There are numerous considerations in doing so. 

    A Cottage Trust or Cottage LLC determines ownership shares of the cottage, provides for splitting of expenses such as taxes, insurance and maintenance, sets forth how multiple families can fairly split periods of use, keeps the cottage in the family if a family member gets divorced, and plans for if a family member wants or needs to get out of the ownership.  
  • Health Care Power of Attorneys
    A Health Care Power of Attorney (“HPOA”) is one of the most important documents you can have.  An HPOA allows a person you designate to make important heath care decisions on your behalf when you are incapacitated and no longer capable of doing so yourself.   These decisions include whether to allow your agent to withhold or remove a feeding tube, and whether to allow your agent to withhold or terminate life sustaining procedures if you are in a persistent vegetative state, or if death is imminent.

    It is important that you fully understand the ramifications of each decision you make, and the authority you are granting to the person you designate.  We will carefully go through each provision to ensure that you fully understand all the powers that you are granting.
  • Durable Power of Attorneys
    A Durable Power of Attorney (“DPOA”) allows you to designate someone to act on your behalf for financial matters during your lifetime.  We will carefully explain the importance of a DPOA, and assist you in determining the level of discretion that your agent will have to act on your behalf. 
  • Probate
    The passing of a family member or close friend is an incredibly emotional and stressful experience.  If you are named the Personal Representative, you have the added burden of attempting to understand how the Wisconsin probate court works, and must handle the financial, tax, real estate and inheritance issues that come into play.   

    If you are named the Personal Representative, please contact us.  We can assist you with the administration of the estate, preparation of fiduciary income tax returns, and distribution of assets to the beneficiaries of the Will.

    When you pass away, your estate must be probated if you have cumulative assets greater than $50,000.00 in your name, and that are not payable on death.

 

115 E Capitol Dr.
Hartland, WI 53029
Tel: 262-367-2126
Fax: 262-367-2033