Trust Administration Attorneys in Milwaukee

Revocable Living Trust Lawyers Serving Waukesha

Trusts are created both during one's lifetime and (by last will and testament) upon death. They are revocable/changeable or irrevocable. Basically, they are tools to control property and assets regardless of your incapacity or death. They can be used to avoid such taxes as the estate tax (not in effect in 2010), but they are primarily used to avoid probate. Moertl, Wilkins & Campbell, S.C., holds thorough discussions with clients that enable us to help our clients define their lifetime and estate planning goals, including trust administration.

Probate is the courts' procedure for verifying the last wishes of a decedent and ordering them to be carried out. Locating heirs, dealing with disputes and many other factors can complicate and delay the process. We use trusts to sidestep probate altogether. Since numerous tasks are required by law to be completed within 12 months, the fewer tasks the better.

An irrevocable life insurance trust, or ILIT, is a life insurance policy on the person establishing the trust. Upon death, the proceeds transfer to the beneficiary, such as a wife or children, and are nontaxable. Another effective means of reducing or avoiding estate tax is the disclaimer trust. Within nine months of a spouse's passing, it can be split into two separate trusts to reduce the value of the estate and potential tax burden.

Trusts may require some management. We can help you select an appropriate trustee to avoid conflict of interest. We can help ensure cost-effective management and proper record keeping for court and other accountings and distributions as you intend. Call our firm and speak with a reputable, experienced attorney.

Our offices are conveniently located on the edge of Milwaukee's downtown, and overlook Lake Michigan. We are willing to make house calls to discuss trust administration throughout Southeastern Wisconsin.