Planning for Your Pets After You Pass: What You Need to Know

Dog PicLegacies for companion animals have made the news many times in recent years, from the $12 Million that hotel mogul Leona Helmsley tried to leave her Maltese terrier in 2007, to the full range of support that Joan Rivers left her four dogs. While it is not often that you can pull solid life lessons from the tabloids, these stories offer great advice and guidance. They show how common it is becoming for owners to plan for the care of their pets in their estate plans.  Keep reading to determine how you can apply their experiences to support your pet.

The Best Way to Protect Your Pet: The Pet Trust

In 2013, Wisconsin law added a provision allowing for the creation of trusts for the care of animals. This pet trust provides for ongoing payments to the named caregiver, along with specific care instructions that must be followed. Each trust includes as little or as much information as you wish, including: Continue reading →

9 Ways to Make Social Media Work for Your Business

Social MediaAs a business law attorney, I enjoy assisting my Wisconsin and Minnesota clients with their business startups. I help them choose the proper business entity, draft their operating documents, ensure their compliance with applicable laws and regulations, etc.  But once the business is up and running, I find they often lack experience on how to market their business for continued success.

For instance, it is impossible to run a business these days without having some presence on social media channels. All of your customers are out there, many of whom are speaking about your company. Are you meeting those customers where they are? Are you on the right social media channels? If you are, are you sure you are marketing yourself correctly? Are you ensuring that you are protecting your business while building brand engagement and customer loyalty?

One of my colleagues, a content marketing consultant, recommends that business owners check their efforts against these 9 tips to make sure their social media efforts are benefitting their businesses. Continue reading →

3 Ways a Do-It-Yourself Estate Plan Can Fail You

Will PicThere is no question about it; lawyers are not cheap. The concern over costs often drives individuals to try handling certain legal tasks on their own. This is especially true in the realm of estate planning—people will often try a do-it-yourself will or trust based on an online form or book. And while DIY estate planning is absolutely the least expensive option up front, it often causes extensive grief and financial loss down the road.

3 Reasons You Should Have Hired a Lawyer in the First Place

  1. You have a legal question. DIY providers do not and cannot offer legal advice. They are not able to advise you concerning your unique circumstances, goals and needs. And they provide standard documents that cannot take into account every state’s rules regarding estate planning and probate. So even if you choose to work through LegalZoom, Nolo or some other DIY provider, you may end up calling a lawyer anyway and having to pay for consultation time to discuss your questions or concerns.
  2. You made a mistake. One term used incorrectly, one preference incorrectly stated, one detail completely left out, or an improperly executed document—these are just a few of the ways a DIY will can become null and void at worst, or cause extreme family strife in the least. If you are lucky enough to catch the mistake before you pass away, at least you have the chance to fix it. But fixing it will come at a cost, as you will need to work with a lawyer to discuss your intentions, review your will and make revisions.
  3. You need help after you create your documents. You have a trust and a will. But are they effective? Are you certain you have set everything in motion to fund your trust? Are your named beneficiaries consistent across your will, life insurance policies, bank accounts, etc.? If you are unsure how to do all of this, you will need a lawyer to assist you. And the time it takes to catch your lawyer up, and have your lawyer review all of your documents, and then to gain assistance will likely cost you more than had you gone to a lawyer in the first place.

Continue reading →

Business Law: S Corporation or C Corporation – Which is best for our company?

businessmen As a Business Law Attorney my business clients often ask me if their corporation should be an S Corporation or a C Corporation. When a corporation is formed it is generally referred to as a “C Corporation” because the tax rules affecting corporations and shareholders are found within Subchapter C of Chapter 1 of the Internal Revenue Code. Becoming an “S Corporation” is actually an election that is made by filing the proper form with the Internal Revenue Service (Form 2553 Election by a Small Business Corporation). The corporation’s attorney and accountant should first be consulted before making an S Corp election. In a previous post I addressed the various types of entities to consider when starting a business. If you have already chosen a corporation as your type of business entity, or if you are considering forming a corporation, consider the following advantages and disadvantages of making an election to be treated as an S Corporation. Continue reading →

Estate Planning: Providing Assistance with Transfer on Death (TOD) Deeds

Transfer on Death (TOD) Deeds to Transfer a Home or Real Estate Upon Death

Real Estate Key IconIn a past Estate Planning post I discussed how beneficiary designations can be an effective tool to avoid Probate upon death. As a Wisconsin Estate Planning Attorney I often use a type of beneficiary designation to pass a home or other real estate to a person’s family members when that person dies. This beneficiary designation is established with a properly drafted Transfer on Death Deed, also known as a TOD Deed. A TOD Deed allows the owner of real property to execute a deed during his or her lifetime, which names the beneficiary or beneficiaries who will receive title to the property upon the owner’s death. This allows the real estate to be transferred to the beneficiaries without them having to go through the probate process. Continue reading →

Estate Planning: Preparing a Will, Hudson Wisconsin

Need Help Making out a Will? Preparing your Will is Important Business.

Elderly Lady Planning a WillAs an Estate Planning Lawyer, I often meet new clients who tell me that they’ve been putting off having their will prepared for several years. It’s certainly an easy thing to postpone. When we’re younger we often feel invincible – as if we’ll live forever. We don’t think about preparing a Last Will and Testament until we’re prompted by a certain event in our life such as a death in the family, a medical crisis, or even taking a long-distance vacation. But it’s never to soon to be prepared – every adult should be thinking about their estate plan. And drafting a will should not be taken lightly, it’s very important business. Continue reading →

Starting a Business: Business Law in Wisconsin and Minnesota

Starting a Business?  Consult with a Business Lawyer to be Sure you Consider all of your Options.

Business Law Attorney Hudson WIAs a Business Law Attorney I’ve had the pleasure of helping many clients start their first business venture. The first step a client is usually faced with is choosing which type of legal organization to choose. The most common organizations or entities are: sole proprietorship, partnership, limited liability company (LLC), and corporations. Business Law is a complex topic, and a comprehensive comparison between these various types of business organizations is beyond the scope of this blog post. That being said, I will attempt to address some of the basic characteristics of each type of entity. Continue reading →

Estate Planning: Second Marriages and Blended Families

Estate Planning Becomes Challenging for Second Marriages and Blended Families

 Estate PlanningWhen one or both spouses are on their second or subsequent marriage, or in cases where families are blended together in a non-marital environment, Estate Planning can present some unique and challenging issues.

As an Estate Planning Attorney I often work with clients who are on their second or third marriage, and each spouse may have children from a previous marriage or relationship. They may also have children together. Other clients may live in a long-standing marriage-like relationship and they, too, frequently have children together or children from previous marriages or relationships. Continue reading →

Estate Planning: Assistance With Beneficiary Designations

Beneficiary Designations to Avoid Probate

estate-planning-lawyer-hudson-wisconsinBeneficiary Designations to Avoid Probate can be a Great Estate Planning Tool When Properly Used. But Use Caution to Avoid Common Pitfalls.

You may have heard that you can avoid probate upon your death by simply placing beneficiary designations on your assets. Beneficiary designations, sometimes referred to as Pay on Death or POD designations, can be a great estate planning tool when properly used. Individuals who are named as beneficiaries on your various bank and investment accounts, insurance policies, retirement plans and so forth, can receive their share of the asset or plan upon your death directly from the institution or company involved, without the asset or funds being included as part of your probate estate. Depending upon the nature of your assets, sometimes probate can be avoided entirely with properly designated beneficiaries. However, be sure to use caution to avoid some very common pitfalls. As an Estate Planning and Probate Attorney I’ve seen various unexpected results with beneficiary designations, including the following: Continue reading →

Is a Limited Liability Company (LLC) Right for me?

Creating a Limited Liability Company (LLC)? Use Caution…Starting a Business is not always a simple venture

Limited Liability Company (LLC)So you’re starting a new business? It can’t be that difficult…can it? You do the research and decide that a Limited Liability Company (LLC) is the best entity for your new venture. You may event go online and register your new entity with proper state agency. But use caution. Before you open the doors of your new business be sure you consult with a qualified Business Law Attorney to ensure that you’ve covered all the bases. Continue reading →