Today, many people use a revocable living trust instead of a will, joint ownership, or beneficiary designation as the foundation of their estate plan. When properly prepared, a trust avoids the costly public, and often time-consuming, court processes of conservatorship or guardianship (due to incapacity) or probate (after death). Still, many people...
Category: Trusts
3 Simple Ways to Avoid Probate Costs in Madison, Wisconsin
The bad news: When a person dies owning property in their sole name without a beneficiary, their loved ones will have to go through a court-supervised process called probate to transfer the property out of the deceased person’s name and into the name of intended beneficiaries or heirs at law. Going through...
3 Powers to Consider Giving to a Trust Protector in Madison, WI
Many estate plans today include trusts that become irrevocable upon the trustmaker’s death and continue for the benefit of a surviving spouse, children, or other loved ones. Some trusts are designed to span multiple generations. For example, a trust may leave an inheritance to a surviving spouse, then upon the surviving spouse’s...
While You Are Working on Your Golf Game, Don’t Forget to Work on Your Madison, WI Estate Plan
The course stretches out around you, lush and perfectly manicured. You step up to the ball, take a few practice swings, and inhale the morning air. It is a shot you have made hundreds of times. But years of playing golf have taught you that there is no guarantee you will hit...
Why a Trust for Your Child Should Mature with Your Child in Madison, WI
From the moment a child is born, a parent feels an instinctive drive to protect and nurture. We childproof our homes, carefully choose schools, offer guidance through adolescence, support their careers, and watch with pride as they start their own lives.
The desire to be there for them extends...
Nosy Neighbor Nellie Can Find Out About Your Probate in Madison, Wisconsin
Most people think of probate (the process of collecting, managing, and distributing a deceased person’s money and property) as a private process. However, because probate involves the court system, most filings become a matter of public record. That means your nosy neighbor Nellie can simply go to the courthouse or hop online...
Minimalism May Be Great for Your Stuff and Finances but Not for Your Madison, Wisconsin Estate Plan
In a modern world marked by information overload, overflowing inboxes, nonstop notifications, and the constant pressure to accumulate more stuff, minimalism offers a compelling counternarrative.
Born from the mid-twentieth century artistic rebellion and revived in the 2010s on the back of increased digital clutter, climate anxiety, and economic strain,...
Estate Planning for Military Families in Madison, Wisconsin
Whatever the time of year, it is always good for members of the military and their loved ones to create or revisit their estate plan. Military families face unique estate planning considerations that others do not, especially when a family member is deployed overseas or receives a temporary duty assignment. In addition,...
Your Divorce Decree: The First Step in Estate Planning in Madison, Wisconsin
You and your spouse have recently divorced, and the judge has signed the divorce decree. Now what? Although you may feel that you have spent enough time and money on lawyers, there is one last attorney you need to talk to: an estate planning attorney. If you and your former spouse created...
It’s Planning Season
To have a successful farm, thoughtful planning must be done every season. Your life is no different. To properly prepare for the next season in your life and the lives of your loved ones, you need a well-executed estate plan. When crafting a foundational plan to protect yourself, your loved ones, your...