Reading Time: 3 minutesEstate planning is an area that makes most people uncomfortable. For nonbelievers, it forces them to confront their own mortality and finiteness, a place they would strongly prefer not to linger. For believers, it forces us to discuss distributing our assets to the stewardship of others, a discussion we are equally eager to avoid. As… Continue reading Five Reasons You Need More Estate Planning Than a Simple Will
Reading Time: 3 minutesBuying or selling a business can be one of the most significant financial transactions an entrepreneur will undertake. In Wisconsin, completing the deal involves more than agreeing on a purchase price. Buyers and sellers must address valuation, financing, taxes, contracts, licenses, employees, due diligence, and the transaction’s legal structure. Whether an owner is preparing to… Continue reading What to Know Before Buying or Selling a Business in Wisconsin
Reading Time: 3 minutesProperty owners can face liability in a variety of situations, including some that may seem unexpected. A recent accident in Waukesha County illustrates this fact. In the fall of 2016, the area was experiencing gusty winds. At the same time, a property owner’s neighbor was cutting his grass. A gust of wind struck a stand… Continue reading When a Tree Falls: Understanding a Property Owner’s Responsibility
Reading Time: 3 minutesWith the vast array of information and advice available on the internet, it is common for potential clients to consider whether it is wise to hire an estate planning attorney when so many forms are available online for free. For the following three reasons, those free forms may end up being extremely expensive, and that… Continue reading Three Problems with “Free” Online Forms
Reading Time: 3 minutesEstate planning is one of the most meaningful things families can do to protect what they’ve built, minimize taxes, and ensure a smooth transfer of wealth to those they love. In Wisconsin, one increasingly popular estate planning tool is the Limited Liability Company (LLC). While LLCs are commonly associated with business operations, they can also… Continue reading Utilizing LLCs for Estate Planning in Wisconsin
Reading Time: 3 minutesAt a recent client conference, I asked some long-time clients of mine whether any changes to their revocable trust were necessary in light of life changes. Their response was horrifying. “Our financial advisor told us we don’t need a trust, and we can just put beneficiaries on our accounts.” Putting aside the illegal practice of… Continue reading The Five Hidden Dangers of Beneficiary Designations