Latest News & Blog Posts
Stay informed with Wisconsin estate-planning articles, updates, and resources from the Law Office of David Watson, LLC and other industry leaders.
Mistakes made when naming your Beneficiary of any Life Insurance, IRA, Annuity or 401k Plan(Avoid These Errors)
A beneficiary is the person or persons designated to receive the benefit of any life insurance, IRA, Annuity or 401k Plan when you die. Seemingly straightforward, however, there are several mistakes people make when making these designations. For most, the...
Kobe Bryant’s Death & the Art of Procrastinating
Father Time is Undefeated The death of Kobe Bryant is a real shock. Someone who seemingly had everything and was entering the prime of his life is now gone in an instant. The media showed countless pictures of him and his family. Kobe seemed to be a great father and...
Catch My Morning Blend Segment
In this segment, I talk about estate planning, why it is important for women to be involved in the planning process, the top reason why a plan would fail, why you want to pay a professional, and the SECURE Act.
The Importance of Both Spouses Being Involved in Financial Matters
"Both spouses need to know basic things about family finances, no matter who handles bills or long-term investing. That means looking over tax returns, knowing about the bank accounts, keeping tabs on everyone’s retirement balance and making joint decisions about big...
Secure Act and How It Severley Affects Your Estate Plan
In regard to estate planning and IRA's, this is a game-changer as non-spousal beneficiaries will need to spend down the inherited amount within 10 years instead of over their respective lifetimes. If you have IRA's that flow into a retirement benefits trust or a...
A Deal Too Good To Be True! Act Now!
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Proposed Expanding of Estate Tax in 2020
The 99.8% Act proposes a progressive rate structure starting at 45 percent for estates between $3.5 million and $10 million. Although the likelihood of this bill becoming law is uncertain, it appears that the expansion of the estate tax will be a target for 2020...
Truly Scary Stories Due To Lack of Planning
A few first-hand stories about some of the negative consequences caused by a lack of planning (negative consequences that don't necessarily revolve around money). As the article succinctly states, "there’s no drama in the universe like death drama.” Resolve to remedy...
Celebrity Estate Planning
So, the auction begins today with sixty percent of the proceeds going to Bourdain’s estranged wife, Ottavia Busia, and his daughter Ariane, the rest to a new scholarship at the Culinary Institute of America. Although Bourdain did some planning, one wonders if this is...
How to Take Advantage of The Higher Estate Tax Exemptions Before The 2020 Election
Examples of what and how Spousal Lifetime Access Trusts (SLATs) and Domestic Asset Protection Trusts (DAPTs) can be used to maximize the estate exemptions before likely tax reforms in 2020 (if the democrats win and get majority control of Congress). Talk to the Law...
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