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.
The Importance of Having a Professionally Drafted Plan
This case shows the importance of having a Will and your estate documents professionally drafted. This case is merely the tip of the iceberg as to what can go wrong and how your desires may not be followed in the end. https://lnkd.in/gJk34Kr
Proposed 99.5% Act and STEP Act
A few excellent examples provided in this article between the current policies and what would happen to an estate/farm/business under the 99.5% Act and STEP Act if the bills are passed. Bottom line: a major negative impact on small businesses, estates, and farms Tax...
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2021 Biden Estate, Gift and Generation-Skipping Transfer Tax Plan
Biden Plan Estate Planning Advisory for 2021 (natlawreview.com) Overview of Biden's Estate, Gift, and Generation-Skipping Transfer Tax Plan, the likelihood of implementation, and possible retroactivity
Crossroads Coming in Estate Planning
"Your estate plan needs to be structured to achieve the results you want under today’s law. Also, it should be flexible enough to adapt to changes in the law that take effect before you’re able to revise the plan." https://lnkd.in/eusaB6S
Stop Procrastinating and Get a Plan Started Today
Great points in this short article. "An estate plan is the best love letter you can write to those you love." Without one, "a court could end up deciding who takes care of your kids, state law determines who inherits your stuff, and the distribution may not be as you...
Reasons to form an Irrevocable Trust
The major reasons for wanting to form an irrevocable trust. As the article states, caution is needed as "an irrevocable trust that protects you from estate taxes is usually not Medicaid-compliant, and was most likely not set up with a permissible trustee to allow the...
Lessons from Celebrity Estates
Great questions to think about: Does your Will match your wealth transfer wishes? Are your assets titled correctly and have you set up the appropriate beneficiary designation forms? Have you established and funded all necessary trusts? You don't have to be a celebrity...
Vacations Gone Bad
Vacations Gone Bad How Delegating Parental Powers Can Be Critical With summer vacation time upon us, despite our Covid-19 world, many people are hitting the road or jumping on a plane. It is not uncommon to have minor children go on vacation with another family or go...
Reasons Why A Revocable Trust May Not Be Right For You
A Living Trust is an excellent estate planning option for many people. The idea of being able to immediately transfer assets at death without probating the estate is a huge advantage for many. However, like so many things these days, “One size does not fit...
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