Q&A Series: Can My 15 Year Old Son Legally Own My Home When I Pass?
#QASeries #Inheritance #MinorsinWisconsin #MinorsInheritingProperty #RealEstateOwnedByMinors #RevocableLivingTrusts #EstatePlanning
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Thomas B. Burton
- Aug 29, 2018
- 2 min
Why You Shouldn't Deed Your Home to Your Children
Attorney Thomas B. Burton discusses some of the pitfalls to transferring your home to your children during your lifetime. Attorney Burton also discusses why this Medicaid planning strategy often leads to unintended consequences. Transcript of Video: Why You Shouldn’t Deed Your Home to Your Children Today's question why shouldn't I gift my home to my children via deed and continue living in it for Medicaid planning purposes I run across this scenario many times while it looks
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Thomas B. Burton
- Aug 21, 2018
- 1 min
What is a Family Pot Trust?
Attorney Thomas B. Burton discusses a Family Pot Trust and how it can be used as part of your comprehensive estate planning to provide for your minor children after your death. #PotTrust #MinorChildren #EstatePlanning #EstatePlanningforMinorChildren #Trusts #Wills #WisconsinTrust #WisconsinWill
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Thomas B. Burton
- Aug 15, 2018
- 2 min
What is the 5 Year Look Back Period for Medicaid Planning
Attorney Thomas B. Burton discusses the 5 year Medicaid look back period for gifts and transfers made five years before an applicant applies for Medicaid and discusses what happens when a gift or transfer of assets is made within this 5 year period. Transcript of Video: What is the 5 Year Look Back Period for Medicaid Planning Today's question what is the five-year look-back rule for Medicaid planning if you've looked into doing Medicaid planning and perhaps seen in the liter
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Thomas B. Burton
- Aug 9, 2018
- 2 min
What is The Minimum Amount of Assets Needed to Form a Trust in Wisconsin?
Attorney Thomas B. Burton answers the question about what minimum amount of assets are needed in order to form a Revocable Living Trust in Wisconsin and discusses some of the common reasons people use Revocable Living Trusts as part of their estate plans. Transcript of Video: What is the Minimum Amount of Assets Needed to Form a Trust in Wisconsin? Today's question what is the minimum assets required to form a revocable living trust this is a question I get asked all the time
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Thomas B. Burton
- Aug 2, 2018
- 2 min
Can I Transfer My Home Into My Revocable Living Trust If I Have a Mortgage on the Property?
Attorney Thomas B. Burton discusses how to transfer a property with a mortgage into a Revocable Living Trust and also discusses a federal law which facilitates such transfers. Transcript of Video: Can I Transfer My Home Into My Trust if I Have a Mortgage on the Property? Today's question can I transfer my home into a trust if I still have a mortgage on the property the answer is yes there's a federal law called the Garn -St. Germain Act which prevents lenders from acceleratin
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Thomas B. Burton
- Jul 26, 2018
- 2 min
How Can A Trust Own Property in Multiple States?
Attorney Thomas B. Burton discusses how a Revocable Living Trust can hold title to property in different states, helping you to avoid multiple probates in multiple states and also discusses how to get property in one state into your trust formed in another state. Click here to obtain my Free Will vs. Trust Estate Planning Guide. Transcript of Video: How Can a Trust Own Property in Multiple States? Today's question has to do with a trust owning property in multiple states or h
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Thomas B. Burton
- Jul 11, 2018
- 2 min
What is Medicaid Planning?
Attorney Thomas B. Burton discusses Medicaid, long term care insurance, and what you can do proactively to help plan your affairs in case you should ever need to utilize the Medicaid program to help pay for long term (nursing home) care. Transcript of Video: What is Medicaid Planning? Today's topic: What is Medicaid planning? Medicaid is the federal government run program that pays for seniors care if they're unable to pay for it themselves most specifically in this context w
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Thomas B. Burton
- Jul 3, 2018
- 2 min
Q&A Series: My Mom and Dad Want Me to Get the House They Own. Can I Put My Name on the Deed and
I often respond to questions related to my firm's practice areas…wills, trusts, estate planning, business law, and real estate...on Avvo.com. I am sharing some of these answers on my blog for the benefit of my readers and clients. Below is a recent question that I responded to on Avvo: Reader Question: My mom and dad want me to get the house they own. Can I put my name on the deed for ownership and take off my fathers name? My father owns the house that I have lived in for 8
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Thomas B. Burton
- Jun 20, 2018
- 2 min
What is the Best Way to Leave the Family Cabin To the Next Generation
Attorney Thomas B. Burton discusses estate planning techniques for leaving the family cabin or cottage to your children or heirs in Wisconsin and Minnesota. Attorney Burton discusses some common strategies and pitfalls to be aware of when considering ways to pass on your family cabin to the next generation. Transcript of Video: What is the Best Way To Leave the Family Cabin to the Next Generation? Today's question has to do with the family cabin or the cottage what if you hav
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Thomas B. Burton
- Jun 5, 2018
- 2 min
Pros and Cons of Using a Transfer on Death (TOD) Deed in Wisconsin
Attorney Thomas B. Burton discusses some of the pros and cons of using a Transfer on Death ("TOD") Deed as part of your estate plan. Click here to obtain my Free One Page Will vs. Trust Estate Planning Guide. For questions about this topic, or to suggest a topic for a future blog post, please contact my office. Transcript of Video: Pros and Cons of Using a Transfer on Death (TOD) Deed in Wisconsin: What are some of the pros and cons of a Transfer on Death Deed? The pro is th
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Thomas B. Burton
- Apr 9, 2018
- 1 min
How Many Wills Can You Have at One Time?
Attorney Thomas B. Burton discusses how many Wills you can have at one time and what you should do with any old Wills you may have after making a new Will. Click here to obtain my Free One Page Will vs. Trust Estate Planning Guide. Transcript of Video: How Many Wills Can You Have at One Time? Today's question how many wills can you have at one time? The answer is only one. That means if you form a new will you should revoke the previous will and I suggest physically destroy i
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Thomas B. Burton
- Mar 12, 2018
- 2 min
How Much Money Do I Need to Form a Revocable Living Trust in Wisconsin?
Attorney Thomas B. Burton discusses the minimum amount of money necessary to form a Revocable Living Trust in Wisconsin. For questions about this topic, or to suggest a topic for a future blog post, please contact my office. Click here to obtain my Free One Page Will vs. Trust Estate Planning Guide. Transcript of Video: How Much Money Do I Need to Form a Revocable Living Trust in Wisconsin? How much money do you need to have to form a revocable living trust? I get asked this
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Thomas B. Burton
- Mar 3, 2018
- 1 min
Do I Have to use the Attorney Who Drafted the Will to Probate the Will?
Attorney Thomas B. Burton discusses why lawyers place their name and firm contact information with the Wills they draft and why your Personal Representative should work with a lawyer with whom they are comfortable when probating a Will. For questions about this topic, or to suggest a topic for a future blog post, please contact my office. Click here to obtain my Free One Page Will vs. Trust Estate Planning Guide. #EstatePlanning #WisconsinLaw #Wills #Probate #EstateAdministra
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Thomas B. Burton
- Jan 24, 2018
- 1 min
What's the Difference Between a Health Care Power of Attorney Document and a Living Will?
Attorney Thomas B. Burton explains the differences between a Health Care Power of Attorney Document and a Living Will and some of the reasons for using each document in Wisconsin. For questions about this topic, or to submit a question for a future blog post, please contact my office. #LivingWill #PowerofAttorneyforHealtCare #WisconsinLaw #EstatePlanning #AttorneyThomasBBurton
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Thomas B. Burton
- Jan 17, 2018
- 1 min
If I Have Life Insurance Do I Still Need an Estate Plan?
Attorney Thomas B. Burton discusses how life insurance works as part of your estate planning and discusses why a comprehensive estate plan fills in gaps that life insurance does not cover. If you have a question about this topic, or would like to suggest a topic for a future blog post, please contact my office. If you would like a free one page guide to help you decide what estate plan is right for you, please enter your email address on this page and this guide will be autom
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Thomas B. Burton
- Dec 18, 2017
- 1 min
Do I Have to Name the Same Health Care Agent as My Spouse?
Attorney Thomas B. Burton discusses how you can name someone to act as your Agent under a Health Care Power of Attorney document and also discusses why you and your spouse may choose different people to fill this important role. If you have a question for a future video blog post, please submit it here. #PowerofAttorneyforHealthCare #WisconsinLaw #WisconsinLawyer #ChippewaValleyEstatePlanning #EstatePlanning
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Thomas B. Burton
- Dec 10, 2017
- 1 min
Why Your Power of Attorney for Finances Dies With You
Attorney Thomas B. Burton explains why your Agent's authority to act under your Financial Power of Attorney document ends at your death. If you have a question for a future video blog post, please submit it here. #PowerofAttorneyforFinances #EstatePlanning #WisconsinLaw #WisconsinLawyer #AttorneyThomasBBurton
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Thomas B. Burton
- Dec 9, 2017
- 1 min
Charitable Giving? Consider Highly Appreciated Assets
Wisconsin Attorney Thomas B. Burton discusses charitable giving and why you might want to consider gifting highly appreciated assets vs. cash to your favorite charity. If you have a question you would like answered in a future video blog post, please submit it here. #CharitableGiving #GiftTaxes #EstatePlanning #AppreciatedAssets #CapitalGainsTax #WisconsinLaw #AttorneyThomasBBurton
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Thomas B. Burton
- Dec 4, 2017
- 1 min
How Much Can I Give Away This Year Without Paying Gift Tax?
Attorney Thomas B. Burton explains how much each person can give away in 2017 without paying federal gift tax and explains what the new gift tax limits will be for 2018. To submit a question for a future Video Blog Q&A, please submit your questions here. #GiftTax #EstatePlanning #FederalTaxes #2017 #GiftTaxPlanning #EstateTaxPlanning
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