Borakove Osman LLC helps Waunakee families, individuals, farmers, and business owners create estate and business plans suited to their lives. We prepare wills and trusts, plan for incapacity and long-term care, and develop strategies for transferring a company or farm.
Your personal assets and business interests may be closely connected. We consider both so that your estate documents, ownership agreements, and succession arrangements support the same objectives.
Why Choose Borakove Osman LLC for Planning in Waunakee?
Our boutique firm creates attorney-prepared plans tailored to the needs of Waunakee families and business owners.
- Planning options for different needs. Our services range from foundational incapacity and will-centered plans to comprehensive trust strategies.
- Coordinated legal strategies. We connect personal estate documents with business ownership and succession arrangements.
- Firsthand knowledge of farm life. Attorney Shayna W. Borakove grew up in a farming family and understands the practical issues involved in transferring a farm.
- Private Family Counsel approach. We serve as a continuing legal resource for your family, helping you keep your plan aligned with changes in your life, assets, and business.
- Focused areas of practice. Our work centers on estates, businesses, elder concerns, farm continuation, and estate administration.
What Does an Estate Planning Lawyer Help You Do?
Estate planning determines who receives your property and who can act for you if you cannot manage your own affairs. Depending on your needs, your plan may include:
- A last will and testament
- Revocable or irrevocable trusts
- Financial and health care powers of attorney
- Beneficiary designation reviews
- Marital property agreements
Parents can use a will to nominate guardians for minor children. Trusts can provide continuing management of a child’s inheritance or help balance the interests of a spouse and children from a prior relationship.
How Much Does Estate Planning Cost in Wisconsin?
Cost depends on your assets, family circumstances, and planning goals. A straightforward will-based plan generally costs less than a trust-based plan involving business interests, multiple properties, or continuing protections for beneficiaries.
We generally handle estate planning matters for a flat fee. After learning what your plan requires, we explain the cost before you decide whether to proceed.
Do You Need a Will, a Trust, or Both?
A will directs the distribution of assets governed by the will and allows you to nominate guardians. Those assets ordinarily pass through probate. Jointly owned property and accounts with valid beneficiary designations may transfer outside probate.
A properly funded revocable living trust can keep many assets out of probate, preserve financial privacy, and control how beneficiaries receive an inheritance. Some Waunakee families benefit from having both a will and a trust. We will explain how each option applies to you.
How Can Business Planning Protect Your Company?
For many Waunakee business owners, the company represents years of work and a substantial part of the family’s financial future. Effective business planning establishes a legal structure for current operations while preparing the company for growth, changes in ownership, or an owner’s incapacity.
We help with entity selection and formation, operating and partnership agreements, buy-sell provisions, governance matters, and asset protection planning. Addressing these issues early can clarify decision-making authority, define each owner’s rights and responsibilities, and reduce the risk of future disputes.
What Can Happen Without a Business or Farm Succession Plan?
Without a written succession plan, relatives or business partners may disagree about who should own or manage the operation. Probate, debt, or insufficient liquidity can further complicate a transition.
We help Waunakee business owners identify successors, prepare ownership-transfer arrangements, and coordinate succession terms with their personal estate plans. For farms, planning may also address land, equipment, operating interests, and family members who will not participate in the operation. Attorney Shayna W. Borakove’s agricultural background informs our approach to farm succession planning.
When Should Long-Term Care Planning Begin?
Long-term care planning is most effective before care becomes immediately necessary. Medicaid may help cover qualifying care, but applicants must satisfy financial and other eligibility rules. Prior gifts and transfers can affect eligibility under Medicaid’s lookback rules.
Irrevocable trusts and other planning methods may be appropriate in certain circumstances, but they can limit your ownership and access to transferred assets. We help families evaluate these tradeoffs in light of their health, finances, and planning timeline.
Talk With a Waunakee Estate and Business Planning Lawyer
Whether you are creating your first estate plan or preparing to transfer a business or farm, Borakove Osman LLC will help you develop a coordinated strategy. Contact us to schedule a consultation about your family, property, or business.
Frequently Asked Questions
How often should I review my estate plan?
Review your plan after a marriage, divorce, birth, death, significant financial change, or move to another state. Otherwise, a review every three to five years can identify outdated terms or appointments.
What should I bring to my first consultation?
Bring current estate documents, business agreements, and a general list of your assets. It also helps to consider whom you may want to name as an agent, trustee, personal representative, or guardian.
What if I own real estate outside Wisconsin?
Real estate is generally subject to the law of the state where it is located and may require a separate probate proceeding. Trust ownership or another transfer strategy may simplify administration.