Wisconsin Code Chapter 701.19(2)(d) states that “a trustee may not sell individually owned assets to the trust unless the sale is authorized in the creating instrument, made with written consent of all beneficiaries, or made with the approval of the court upon notice and hearing.” However, it is important to note that the trustee is allowed to act based on the intentions of the grantor. There are some instances where the trustee may sell property.
Read MoreIf you are the beneficiary of money from a trust, you may wonder what happens next and what your obligations and requirements are once you receive the funds. As a beneficiary of trust funds, you do not want to make any mistakes in the handling of your newfound assets. It is helpful to understand the types of trusts so you know what taxes you must pay.
Read MoreThe death of a loved one is undoubtedly a stressful time in your life. After a relative passes away, the person’s trust will be reviewed and dispersed. A trustee is the person assigned to oversee the trust. Many people wonder whether a trustee can use his or her power to withhold money from a legal beneficiary. It is helpful to understand the role of a trustee and his legal responsibilities and obligations.
Read MoreWhat happens when someone dies without a will? Without a will, the distribution of assets is left to state law. Learn more about intestate succession (when someone dies without a will, they are said to die intestate), and the legal process in place for handling the estate and distributing assets of a decedent.
Read MoreWhile generally the trustee cannot make changes to the trust, there are circumstances where it may be possible.
Read MoreAfter a loved one passes away, it may be surprising and upsetting to find that the trust was not as you expected. When this happens, it is best to seek guidance from a reputable trust attorney.
Read MoreProbate is the process of legally proving a person’s will after their death. A person has a will in place to give directions regarding assets and to distribute property to beneficiaries, among other things. When someone dies, the law generally requires you to prove the decedent’s will in order to properly and legally distribute assets. If you die without a will, the state laws guide how your assets are divided. This is called dying intestate. Therefore, it is in your best interest to put a will in place to ensure that your wishes are met and that your loved ones are cared for as you desire.
Read MoreAn estate plan is the best way to provide for your loved ones after your death. It ensures that your property and assets get distributed according to your wishes and it also helps your family make important decisions. Here is a checklist to prepare for the creation of your estate plan.
Read MoreA will is an important document and is part of your estate plan. It is essential for all adults to have a will in place, yet many people don’t have one. Here are five reasons why you need to have a last will and testament in place.
Read MoreWhen you wish to allow someone to attend to your matters, you must provide them legal power of attorney. Power of attorney is a legal designation that gives a designee the legal authorization to handle your decisions and finances.
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