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Friday, April 27, 2018

Seven Reasons You Need a Business Succession Plan

Do you know what would happen to your business if you were to retire next week? What would happen to the business if you become incapacitated or passed away suddenly? Without a business succession plan, your heirs and your business may be thrown into chaos. As you continue to focus on growing your business and making it a success, you should also discuss, with a Wisconsin business succession lawyer, how you intend to wind the business down or transfer the business.

Seven Important Reasons to Develop a Business Succession Plan Now

  1.  You want to control which family members take control of the business.
    In a family-owned and operated business, your business interest may not automatically pass to the person you want to continue operating the business. To ensure the business is transferred to the correct family member or members, your business succession plan should be developed in close conjunction with your estate plan.
    Read more . . .

Friday, March 23, 2018

What Are the Advantages of a Trust?

Many people assume that trusts are for wealthy individuals and families. However, utilizing trusts can benefit anyone who is developing an estate plan. Trusts provide specific advantages that you cannot achieve through other estate planning strategies. The key is to work with an experienced Wisconsin Read more . . .

Saturday, December 23, 2017

Asset Protection Strategies to Help Protect Your Estate from Creditors

You have worked hard and amassed sizeable assets, but you know that they could all be gone in the blink of an eye. Someone could file a lawsuit against you following a car accident. A visitor or trespasser could become injured on your property. Your business could be targeted for a legal claim. Before this happens to you, it is best to educate yourself and seek the advice of a competent Read more . . .

Monday, November 20, 2017

How Can an Irrevocable Life Insurance Trust Help Me?

When you are working on your estate planning with the intention of maximizing what you can give to your beneficiaries and minimizing the amount the government will take away in taxes, you may be looking at several asset protection options. If you have or plan to buy sizeable life insurance policies, you may want to discuss your options with an advanced estate-planning lawyer.

Explanation of an Irrevocable Life Insurance Trust

With an Irrevocable Life Insurance Trust (ILIT), you set up a living trust then transfer the life insurance policies to the trust.
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Friday, October 6, 2017

How Can a Special Needs Trust Help My Disabled Child?

If you have a child with special needs, you have even more things to worry about than a parent of a typical child. You have anxiety over your child’s future. You want to make sure he will have the resources to be comfortable, safe and protected. If you put assets in his name, or if your parents or others leave him money in their wills, he can get kicked out of government benefits programs. In order to ensure that your loved one is protected, you should talk with a probate and Read more . . .

Friday, September 15, 2017

What is a Family Limited Partnership?

People who are exploring their options in estate planning strategies usually want to reduce the amount of their estate taxes, protect assets and reduce income taxes. While many financial vehicles can accomplish some or all of these goals, some people opt to set up a Family Limited Partnership (FLP), particularly if the family owns any business interests. If you are thinking about your estate planning, you might benefit from a discussion with an experienced estate-planning lawyer.

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Monday, August 21, 2017

What Exactly Is Involved In The Probate Process?

Most attorneys will tell you to do almost anything you can to avoid probate.  That’s because probate tends to be long, complicated, and expensive.  But sometimes you don’t have a choice, so it’s important to know what is involved in the probate process. Of course it is always a good idea to talk with an experienced

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Monday, July 31, 2017

Pet Trust – What You Need to Know

Most pet owners consider their pets to be members of their family. Surprisingly though, over 500,000 pets are orphaned each year due to the death of their human.

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Monday, June 26, 2017

What is the Difference Between a Will and a Living Will?

Estate planning can be complicated enough without having to contend with similarly-named documents like Livings Wills and your Last Will and Testament. It’s easy to forget or simply disregard one or the other document because you think you have it covered. As estate planning lawyers, we understand the confusion and hope to alleviate some of the confusion here.

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Thursday, July 14, 2016

Why I have chosen to help families plan for incapacity and death?

By:  Roman A. Chojnacki

People often ask what type of law do I practice.    When I used to tell them estate planning, I would often get a puzzled look.    I wrongly assumed that terminology familiar to bankers, financial advisers, and legal professionals was helpful to the person asking the question.  A very good technical answer to the question-what is estate planning?-is provided under that practice heading in this site.  My new answer to the question-what type of law do I practice?-is that I help families and business owners plan for incapacity and death.

Read more . . .

Riverwood Legal & Accounting Services, S.C.
Servicing: Waukesha, Milwaukee, Jefferson, Dodge, Washington, Ozaukee, Racine, Walworth, & Rock Counties

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| Phone: 262-446-8145

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