Trusts

One type of trust that you may not know about is a testamentary trust. Many individuals put these in their estate plans, making them effective upon death. If you would like to learn more about whether a testamentary trust is the right option for you, here are a few points to consider.   What Is a… Read more

With a living trust, you can manage and distribute your assets after your passing. While this valuable estate tool can help expedite the probate process and protect your privacy, it may not be the right option for everyone. Some assets are not suitable to be placed in a living trust. Here is what you need… Read more

Trusts are an essential part of estate planning and managing wealth. They provide a sense of financial security and peace of mind. However, your trust may become outdated with changes in family dynamics, legal requirements, and other factors.  If you want to ensure that the trust continues to align with your current needs, intentions, and… Read more

The distribution of a deceased person’s property and settlement of debts is called probate, which can be a difficult and costly process in Wisconsin. However, creating a revocable living trust can help simplify estate administration and avoid heading to court. This estate planning tool can offer many benefits to individuals and families.  Here is how… Read more

Trust disputes and litigation can arise in Wisconsin when conflicts occur between beneficiaries, trustees, or other interested parties over the administration or interpretation of a trust. These disputes can be complicated and emotionally charged, often requiring legal intervention to resolve them.  Individuals involved in or considering trust agreements need to understand the common issues that… Read more

Managing a Wisconsin trust requires meticulous attention to tax obligations. Otherwise, the trust could be subjected to state and federal taxes. Both trustees and beneficiaries need to understand these tax implications to comply with regulations and make informed financial decisions. Here is a comprehensive overview of the key tax implications of a Wisconsin trust. Income… Read more

The rules and procedures for creating, modifying, and terminating trusts are outlined in the Wisconsin Trust Code. Some trusts cannot be changed. However, for revocable ones, you may be able to modify or even terminate them. When it comes time to make any changes or dissolve the trust, there are specific steps that you must… Read more

When most people think about their estate plans, they often believe a will is the only legal document they need. However, other aspects of the planning process can protect your legacy and assets. Establishing a trust provides many benefits, including ensuring that the person’s assets and property are managed according to their wishes during their… Read more

Protecting assets and property are a major concern for many individuals in Wisconsin. With a trust, you have an effective tool that will ensure these assets remain safeguarded throughout your lifetime and are distributed according to your wishes. While it may seem like a trust is the best option, you still need to weigh the… Read more