One of the biggest benefits of a properly established estate plan is that it allows the planner to do something beneficial for their adult children after their death. Statistics indicate that Oshkosh, Wisconsin, residents who are in a position to leave their loved...
Changes to estate taxes
Wealthy people in Wisconsin know all about the estate tax exemption that was passed in 2018 as part of the Tax Cut and Jobs Act. That piece of legislation essentially doubled the amount of non-taxed gifts that people were able to leave to their family members....
What farmers need to know about estate planning
Many farm owners in Wisconsin want to preserve their farm so they can pass it down to the next generation. However, if they don't keep their estate plan up-to-date, their immediate family might be facing a legal battle after they pass away. Here's some common estate...
New marriage requires estate planning revisions
Life’s goals often change over time, and even a happily married couple can wind up in a Wisconsin divorce court. Many older Oshkosh-area couples go through a so-called “gray divorce” near their retirement years. Yet others might get divorced at younger ages but still...
Dealing with digital assets in an online estate plan
As technology begins to make its way into more and more areas of everyday life, the concept of creating online wills has recently become more popular. While that premise may sound appealing based solely on convenience, Wisconsin residents need to know how to best...
4 ways having children can affect your estate plan
Bringing a child into your family changes your life. It changes the way you make decisions, the way you take care of yourself and the way you plan for the future. It makes sense, then, that having a child can give you new insight into the legacy you wish to leave...
Take stock now of your estate plan
You've done your due diligence and drafted your estate planning documents. You should be good to go, right?Not necessarily. You might still need to refine your estate plan in order to better protect your assets. You also might want to provide a certain level of...
Are you making one of these estate planning errors?
You want your loved ones to be secure after you're gone, so you know it's important to have your estate plans in order well before your death. However, even the best laid plans can be disrupted simply because people aren't aware of the mistakes they're making.Could...
Don’t forget your loved one’s credit reports after their death
If you're the executor of a loved one's estate, one of your responsibilities is to deal with their financial products, including bank accounts, credit cards and loans. You will likely close their accounts, cancel their credit cards and pay off any balances on those...
Is a spendthrift trust the right choice for your heirs?
Good parents realize that loving their children means preventing them from harm. It also means that they may need to step in at times and protect them from their own worst inclinations. Unfortunately, for some parents, the need to do this doesn't stop when their...