It can be tempting to name all of your adult children to serve together, but that isn’t always the best way to keep your plan running smoothly. A practical alternative is to list them in order of who you think will do the best job so that only one steps in at...
Category: Trustee
Wisconsin Estate Planning FAQ’s: Understanding Corporate Trustees
A corporate trustee is a bank trust department or trust company that can help you build, manage, and protect wealth inside a trust. Corporate trustees manage trusts daily, understand tax and estate planning strategies, and know the legal responsibilities of a trustee. They can buy and sell assets, pay bills, file tax...
Wisconsin Estate Planning FAQ’s: How to Choose a Successor Trustee for Your Living Trust
Selecting a successor trustee is one of the most important decisions in your living trust plan because this person or institution steps in to manage the trust if you become incapacitated or after you die. A strong choice keeps your plan running smoothly, while a poor choice can create delays, conflicts, and...
Wisconsin Estate Planning FAQ’s: Understanding the Responsibilities of a Trustee
Serving as a trustee is both an honor and a serious legal role. A trustee is the person or institution legally responsible for carrying out the instructions in a trust. This includes managing and controlling trust property for the benefit of others and making distributions according to the trust’s terms, not personal...
Wisconsin Estate Planning FAQ’s: Setting up a Trust and Selecting a Trustee
Trusts are not just for the wealthy. They serve many purposes and solve specific problems that may have little to do with wealth, focusing more on family dynamics. As you think about your estate plan and passing your assets on to your loved ones, consider the following questions:
Wisconsin Estate Planning: What does a successor trustee do in Wisconsin upon your incapacity and death?
In Wisconsin, a successor trustee is the person or institution you name in a trust to take over management of your trust assets when you can no longer manage them yourself—either due to incapacity or death. Their role is central to how a revocable living trust actually functions.
If...
Wisconsin Estate Planning: What Does a Successor Trustee do in Wisconsin Upon your Incapacity and Death?
In Wisconsin, a successor trustee is the person or institution you name in a trust to take over management of your trust assets when you can no longer manage them yourself—either due to incapacity or death. Their role is central to how a revocable living trust actually functions.
If...
New Home and Estate Planning
Buying a home is exciting, whether it is your first time or your latest move. You have most likely worked with a realtor, a lender, a home inspector, and a title company, but there is one more call you should make: your estate planning attorney. Ensuring that your new home is properly...
Common Pot (Common) Trusts Explained for Families in Wisconsin
A pot trust (also known as a Common Trust) is a way to hold money and property for a group of beneficiaries, usually children or other family members, in one shared trust. Instead of dividing everything into separate shares right away, the assets stay together in a single fund, allowing the trustee...
Removing a Trustee in Wisconsin
The title of trustee implies that this position should be held by someone you find trustworthy, and for good reason. Serving as a trustee of a trust carries significant responsibility and duty not just to you as the trust’s creator but also to the beneficiaries who depend on accurate, faithful administration.