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.
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...
2020 Estate Planning and Wills Study
The data according to Caring.com shows that "a majority of people believe estate planning is important, but a low number of people actually have documents in place which likely indicates a lack of education and familiarity with the process." Even more startling,...
Making a Will is a Necessity
Doing nothing may be disastrous according to your state's intestacy laws. See what may happen if you are married and have children from a prior relationship, or if you die and had an unmarried partner....
“Pandemic” or “Panicdemic”?
Oh my, how things can change in a matter of a few days. Only a few weeks ago, the Coronavirus or Covid-19 seemed like a problem for China and Italy. Never in a million years did any of us think it would have such a dramatic effect on our day to day lives. We’ve gone...
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