In this video, our Milwaukee County estate tax attorney explains Asset Security, Implications for Taxation, Independent Trustees, and more regarding estate taxes for irrevocable trusts in the state of Wisconsin. Irrevocable trusts in Wisconsin enable beneficiaries to escape probate and various forms of taxes after the grantor passes away. If the grantor is still alive, his properties are passed to a trustee. The trustee is in charge of the assets' management. In most cases, once assets are deposited in a trust, they cannot be taken out, according to Wisconsin law. For further questions or help in this field, do not hesitate to contact O'Flaherty Law today.

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In this episode, our Milwaukee County estate tax attorneys explain both Wisconsin and federal gift taxes. Any gift is taxable in theory, although there are a few significant exceptions. Gifts of tuition or medical costs paid directly to a medical or educational institution for another person, for example, are not taxable. It is important to understand what possible taxes are to ensure beneficiaries of an estate can maximize their inheritance. For further questions, do not hesitate to contact O'Flaherty Law.

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In this video, our Milwaukee County estate tax attorney explain the mandatory probate forms that are required in Wisconsin and defines common terms used in the forms. A blank set of forms can be purchased from your local Probate Registrar. The Registrar will tell you whether you can print the forms in black pen or if you must type them. While the registrar cannot complete the forms for you, they are compelled by law to verify the information you provide. For further help with elder law, probate, or estate administration, do not hesitate to contact O'Flaherty Law today.

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