What is your excuse for not having a Will?
Over half of Americans die without a Will. Some of the most common reasons my clients offer for not preparing a Will sooner are: I’m too busy. It seems people are busier than ever. One certainty, however, is that we will all die eventually. Putting off your estate planning may free up your schedule now, but it will likely make …
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Asset Protection in Wisconsin
Court Rules Inherited IRA not Exempt in Bankruptcy The 7th Circuit Court of Appeals recently reversed a ruling by the U.S. Bankruptcy Court for the Western District of Wisconsin which held that an inherited IRA was an exempt asset. In re Clark, Nos. 12–1241, 12–1255. In Clark, the debtors, Brandon and Heidi Clark, filed for chapter 7 bankruptcy in 2010. Heidi …
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Estate Planning Lawyer in Wausau: Passing on your Green Bay Packers Season Tickets
Lambeau Field, the home of the Green Bay Packers, has been sold out on a season ticket basis since 1960. Since that time, the waiting list for season tickets has grown to over 100,000. There’s a 99.9% renewal rate for season ticket holders — only 119 names came off the list last year. At that pace, getting on the waiting …
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How to Avoid Probate in Wisconsin
As an estate planning attorney, I know that a common goal for my estate planning clients is to avoid probate. “Probate” refers to the Court-supervised process of accounting for and distributing property owned individually by a decedent at the time of the decedent’s death. What is Probate? The probate process terminates the decedent’s interest in the property title in his …
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Estate Planning Attorney, Marshfield WI: Appeals Court Rules Debt Forgiveness Invalid
A dying man’s undisputed wish to forgive several debts cannot be granted, a Wisconsin appeals court has ruled. Eighty-eight year old Roger Hansen was in the process of making a will with an attorney, but died without signing it. Since he did not have a will, his estate passed to his heirs under intestate succession laws. The Facts During his …
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Protect Assets from Nursing Home: Irrevocable Trust May not be Adequate
A Wisconsin appeals court recently ruled that the assets in an irrevocable trust established by three children with funds gifted to them by their parents are available to pay for the mother’s nursing home care. The decision should be noted by people relying on an irrevocable trust to protect assets from nursing home expenses. Background In 1991, Lucille Hedlund and her husband (now …
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Estate Lawyer Wausau: Non-Probate Transfers in Wisconsin
As an estate lawyer, I know that a common goal for my estate planning clients is to avoid probate. “Probate” refers to the Court-supervised process of accounting for and distributing property owned individually by a decedent at the time of the decedent’s death. What is Probate? The probate process terminates the decedent’s interest in the property title in his or …
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