On November 3rd, we will vote in the next Presidential election. Depending on the outcome of this election, there is a possibility that the estate tax exemption will be reduced. We want to alert you to this potential change in case you have any questions or would like to update your estate plan. While there […]
In December 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The SECURE Act became effective on January 1, 2020, and makes significant changes to retirement accounts, including Individual Retirement Accounts (IRAs), 401(k), 403(b) and 457 plans (“Retirement Plans”). The following is a brief summary of the key changes: The beginning […]
Many estate planning clients ask me about how to give their real estate to their children. Oftentimes, they are hoping to leave a gift of the family cabin or recreational land in a way that allows their children and grandchildren to continue to use and enjoy the property for years to come, beyond the client’s […]
The Boys and Girls Club of the Fox Valley has been instrumental in creating not just more, but better opportunities for our children in our community. As their mission states, they strive to “inspire and enable all young people, especially those who need us most, to reach their full potential as productive, responsible, and caring […]
Many people believe that “estate planning” is only for the super wealthy among us, but the reality is that everyone wants their wishes to be followed, regardless of their economic status. For example, parents in blended families have a unique interest in ensuring that children from prior marriages are treated fairly, even if their parent […]
As an estate planning attorney, my clients often ask me what they should do with the family cottage, cabin or hunting land “up north.” In a typical situation, Mom and Dad purchased the property years ago at a bargain, and now the children and grandchildren treasure it as a place to gather as a family. […]
So, you’ve decided to sell your home, and you’re hoping to save some money and sell it on your own! Here are a few things you should know before venturing down the FSBO (For Sale By Owner) road: To begin the sale of your home, you will need to complete a Real Estate Condition Report, […]
It depends! (Typical lawyer answer). The fact is that no two estate plans are exactly the same. Your goals, family structure, and particular situation will dictate what kind of estate plan you need. Let’s look at a few important factors to consider when deciding between a will-based estate plan and a revocable living trust-based estate […]