Many people assume estate planning is only for the wealthy or the elderly, but a basic plan helps everyone minimize confusion, costs, and stress for loved ones after a death or during incapacity. Without clear documents, assets like a home, retirement accounts, and savings can get stuck in limbo for years and...
Category: Trusts
Wisconsin Estate Planning: How are digital assets dealt with in a Revocable Living Trust in Wisconsin?
Digital assets can and should be addressed in a Wisconsin revocable living trust, but a trust by itself does not automatically give a trustee access to all online accounts. Access is governed by a combination of trust language, Wisconsin law, federal privacy laws, and the terms of service of the platforms that...
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: 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: How do you protect loved ones with a Special Needs Trust in Wisconsin?
A Special Needs Trust (SNT) in Wisconsin is designed to provide financial support to a person with a disability without disqualifying them from means‑tested government benefits like Medicaid or Supplemental Security Income (SSI). The key is that the trust enhances quality of life without giving the beneficiary direct ownership of assets or...
Wisconsin Estate Planning: Why are Pour-Over Wills important when preparing a revocable living trust in Wisconsin?
A pour-over will is a safety‑net document that works alongside a revocable living trust in Wisconsin. It does not replace the trust—it supports it by catching anything that was missed so your estate plan still works even if something isn’t perfectly set up before death. In simple terms, a pour-over will says...
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: Does a Trust or a Will better protect assets in Wisconsin?
A trust and a will don’t really “compete” on asset protection in Wisconsin instead, they do different jobs. The better question is what you want to protect against, and during which phase: life, incapacity, or after death. In most Wisconsin estate plans, they work together rather than one replacing the other.
Wisconsin Probate: What are common reasons for litigation in a Wisconsin Probate?
Litigation in Wisconsin probate most often arises when family members, beneficiaries, creditors, or fiduciaries disagree about the decedent’s assets, intentions, or how the estate is being administered. The most common categories include will contests, trust contests, fiduciary‑misconduct claims, disputes over family farms or closely held businesses, real estate and cabin conflicts, creditor...
Wisconsin Probates: How can Trusts minimize Probate Court involvement?
A properly funded revocable living trust can significantly reduce probate court involvement in Wisconsin because assets owned by the trust generally do not pass through the probate estate when the grantor dies. Probate itself is a court‑supervised process for validating a will, appointing a personal representative, identifying assets, paying debts and taxes,...