Using Trusts to Maintain Business Ownership Stability
Families who want to preserve long-term control of a closely held business often turn to trusts. A well-structured trust can keep ownership within the family, prevent disputes, and create a clear plan for how the business will transfer to future generations. By placing business interests in a trust, you can maintain continuity...
Essentials of an Advance Medical Directive
Understanding the essentials of an Advance Medical Directive helps you take control of your future health care decisions. Wisconsin’s laws clearly define what must be included in these documents and how to make them valid. This page outlines the key elements, required forms, legal standards, and steps to create a legally enforceable...
5 Benefits of Early Elder Law Planning
When it comes to protecting your health, home, and savings, timing matters. Early elder law planning gives you control over your future, helps you avoid last-minute crises, and can save thousands in long-term care costs. With the right plan in place, you can make informed decisions about your care, preserve what you’ve...
7 Differences Between a Trust and a Will
When planning your estate, you might wonder whether a trust or a will is the better choice. Both documents ensure your wishes are carried out, but they serve different purposes. The right option depends on your family’s needs, your financial situation, and how much privacy and control you want over your estate....
How Much Does Estate Planning Cost in Wisconsin?
Planning for the future isn’t just something for older adults or the wealthy. Estate planning is an important tool for anyone who wants protection for their family, their assets, and their wishes. In Wisconsin, creating an estate plan involves more than just drafting a will—it includes legal documents that work together to...
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...