Protecting biological heirs in a Wisconsin blended family is less about “cutting out” a spouse and more about balancing two competing goals: providing for the surviving spouse and ensuring children from prior relationships ultimately receive their intended inheritance. Without careful planning, Wisconsin’s default rules and common estate tools can unintentionally favor one...
Category: Spouse
Wisconsin Estate Planning: What are estate planning issues that a blended family faces in Wisconsin?
Blended families in Wisconsin face some of the most complicated estate-planning challenges because the law does not automatically align with emotional expectations. When “yours, mine, and ours” families mix, the biggest issues usually involve who inherits what, when they inherit it, and who controls assets in the meantime.
Conflicts...
Does my Spouse’s Citizenship Affect my Estate in Madison, Wisconsin?
Noncitizen spouses are treated differently than US citizen spouses for estate and gift tax purposes.[1]
They do not get the unlimited marital deduction. Married US citizen spouses can generally transfer unlimited amounts of money between each other during life or upon death in various qualifying ways without...
Want to Disinherit Someone in Madison, WI? This Is What You Need to Know
Disinheritance—the intentional exclusion of a family member, usually a child or spouse, from receiving part of your estate after your death—is more common than you might think. It is also easier than you might think to disinherit a loved one, with a couple of notable exceptions. However, it is not as simple...
Surprise! You Cannot Easily Disinherit Your Spouse in Madison, Wisconsin
Believe it or not, it is not easy to disinherit your spouse in the United States. In many states and the District of Columbia, you cannot intentionally disinherit your spouse unless your spouse agrees to receive nothing from your estate in a prenuptial, postnuptial, or other marital agreement. However, the same is not true...
Estate Planning Basics for Newlyweds: How to Prepare for the Unexpected in Madison, WI
Getting married is a special time in your life; you may have a beautiful wedding, a fun reception (with a delicious cake and special gifts), and a romantic honeymoon. It is also the right time for you and your new spouse to plan for your future—for richer or for poorer, in sickness...
Qualified Domestic Trusts: Your Jumpstart to Protecting Your Noncitizen Spouse
Married couples love each other and want the best for each other. Establishing a comprehensive estate plan is one way to provide the best for each other. Not only does an estate plan protect you when you are unable to care for yourself during your lifetime, but it also protects your hard-earned...
Don’t Let This Crucial Question Derail Your Estate Plan
Sitting down to create or update your estate plan can be overwhelming. Crucial to a successful plan is your ability to address two major questions: Who will get your stuff when you die, and how do you want those individuals or charities to receive that stuff?
Ways to Give...
What Is the Last Surviving Spouse Rule?
What Is the Last Surviving Spouse Rule?
Estate planning can be a significant part of successful financial management, especially for married couples. One key consideration is minimizing estate taxes, which can substantially affect the distribution of money and property to a married couple’s loved ones.
Limited Impact of Estrangement on Estate Planning
Unfortunately, rifts sometimes arise between family members that are much more serious than just temporary squabbles. The result may be estrangement, defined as “the state of being alienated or separated in feeling or affection; a state of hostility or unfriendliness” or “the state of being separated or removed.”[1] Estrangement does...