Modern Estate Planning Strategies for Blended Families
Navigating the estate planning complexities in blended families can be challenging. Couples and individuals face unique challenges, such as treating biological and stepchildren fairly, how to divide co-owned property, and protecting family businesses and wealth. Working with a Wisconsin estate planning lawyer to develop estate planning strategies for blended families can...
How To Choose the Right Successor for Your Wisconsin Business
Family-owned businesses make up about 32% of the businesses in Wisconsin. However, only about 40% of family businesses transition to a second generation, with only 13% of family-owned businesses being passed down to a third generation.
Unfortunately, without a detailed succession plan, family-owned businesses may not survive...
What Is a Farm Succession Plan?
Owning a family farm in Wisconsin means carrying forward both a livelihood and a heritage. The years of effort, care, and dedication that built it deserve to be honored in the way it’s passed down. Making sure the next generation can carry on that work calls for more than informal agreements. It...
How Cryptocurrency Is Changing the Estate Planning Landscape
In just over a decade, cryptocurrency has gone from an obscure concept to a mainstream investment. Bitcoin, Ethereum, and other digital currencies are now part of many personal portfolios, and their unique nature means they must be handled differently in estate planning. At Borakove Osman LLC, we help Wisconsin clients understand how...
Tax Implications of Gifting a Cabin in Wisconsin
Gifting your cabin in Wisconsin during your lifetime is a generous act that can reduce the value of your estate for estate tax purposes. However, before you gift a cabin to someone, you must consider other tax implications associated with gifts. In this blog, our Madison & Dane estate planning attorneys...
How Can Estate Planning Protect Your Children?
When most people think about estate planning, they typically associate it with wealth management or end-of-life preparations. Often overlooked is one of the most critical aspects of estate planning, which is how it can protect your children.
For parents in Madison and Dane County, WI, estate planning provides peace...
The Importance of Farm Continuation Planning for Wisconsin Farmers
Wisconsinites know that our farms are so much more than businesses, but instead are unique entities built through years of dedication, stewardship, and hard work. Founding father Thomas Jefferson famously said “Agriculture is our wisest pursuit, because it will in the end contribute most to real wealth, good morals & happiness." High...
Why Every Small Business Owner Needs a Succession Plan
Wisconsinites are entrepreneurial. Small businesses in Wisconsin account for 99.4 percent of the state's businesses. These business owners know that running a small business takes dedication, hard work, and vision toward the future. Whether it’s a family business or something you’ve built from the ground up, planning...
7 Benefits of Preparing a Will in Wisconsin
Procrastination is real for a lot of people. In fact, studies show that around 20% of adults procrastinate chronically. When it comes to preparing a will, many people kick that can down the road for many reasons, like “I’m too young,” or “I don’t need one.” This thinking...
How Can You Pass Your Farm to the Next Generation?
For many Wisconsin farmers, their land and business are more than just assets—they are a way of life and a family legacy. Ensuring a smooth transition of your farm to the next generation requires careful planning and legal guidance. At Borakove Osman LLC, we are a premier firm of farm continuation...