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Trusts

How Are Wisconsin Trusts Taxed?

When you’re setting up your estate plan, you may be considering adding a trust.  In Wisconsin, you have a choice of five different trusts:  revocable, irrevocable, testamentary, marital, and bypass trusts. Each has its own purpose.  But understanding generally how trusts are taxed can also help you plan for your and your family’s future. Keep… Read more

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Estate Planning

What Elders Should Know About Healthcare Planning

Healthcare planning can often be a daunting task. However, as you age, healthcare planning can become more of a maze if you’re trying to plan for your future without help.  For elders, healthcare planning often involves care coordination, legal services, and advocacy services – all of which help you and your family prepare for your… Read more

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Trusts

5 Common Questions About Wisconsin Living Trusts

When engaging in estate planning, you have many options for planning for your family’s security after you’re gone – from wills to living trusts to powers of attorney. But, the best way to determine what you need is to understand each of these estate planning tools and how they may benefit you and your family. … Read more

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Trusts

What Are the Pros and Cons of Wisconsin Irrevocable Trusts

As you create your estate plan, you may wonder – Do I need a trust in addition to my will? In Wisconsin, numerous trusts exist, such as revocable, irrevocable, testamentary, marital, and bypass trusts. However, let’s focus on the pros and cons of an irrevocable trust and whether you may need one for your estate… Read more

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Estate Planning, Trusts

What You Should Know About the 5 Types of Wisconsin Trusts

When creating your estate plan, you run into numerous new terms, such as will, trust, power of attorney.  Each serves a specific purpose for your estate plan, but unless you’re an estate planning attorney, you may not know which does what. Let’s specifically look at trusts. A trust is a legal arrangement between the person… Read more

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Power of Attorney

When Should I Hire an Elder Law Attorney?

Hiring an elder law attorney can be a critical step for you or your loved ones in their later years, as seniors face fixed incomes and rising healthcare costs in late life. Failing to plan for these years, however, can impact your control over your finances and quality of life. By helping you plan for… Read more

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Estate Planning

4 Things to Know About Wisconsin Probate Administration

All states have rules and laws regarding probate administration – and Wisconsin’s no different. In Wisconsin, probate is the legal process of transferring assets after a person’s death while also dealing with any amounts owed to creditors or for taxes. A local probate court supervises this process. In Wisconsin, if your estate is valued at… Read more

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Trusts

What Not to Put Into a Revocable Living Trust

Revocable living trusts are a great benefit to almost everyone’s estate plan. However, though you can put most of your assets in a revocable living trust, living trusts are not ideal for all assets that you may want to pass on to your children, family, friends, and relatives. Today, Collins Law is going to help… Read more

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Trusts

Should Everyone Have a Trust in Wisconsin

You’ve heard of estate planning and living trusts, but perhaps you think a will is enough. Or perhaps you think that living trusts are only for the wealthy or those with complicated estates. Should everyone have a trust in Wisconsin? In truth, at Collins Law, we say the answer is yes. There are a lot… Read more

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