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MAY 23, 2018
 
 
 
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Family & Estate Planning News
In house attorneys looking for a better way to organize, vet and easily retrieve legal news created the National Law Review on-line edition.

Around the clock, the National Law Review's editors screen and classify breaking news and analysis authored by recognized legal professionals and our own journalists.

There is no log in to access the database and new articles are added hourly.​
 
 
 
 
In December 2017 when Congress passed and the President signed the new tax bill, often referred to as the "Tax Cuts and Jobs Act," there was a great deal of publicity about its impact on individual and business income taxes. What has not received a lot of publicity is what the Act did (and did not do) to the tax law affecting estate planning.  For transfers and deaths occurring between January 1, 2018 and December 31, 2025, the estate and gift tax exemption and the generation-skipping transfer tax exemption were both increased from $5,490,000 to $11,180,000 per person, and those exemptions will continue to be adjusted each year for inflation.   Read More on TCJA Estate Planning Considerations Here >
 
 
 
SchiffLife is more complicated for families who have a loved one with a disability. From finding the right medical professionals and the right schools or other programs, to obtaining necessary therapies and services, people with disabilities face additional steps, extra time, and a need for specialized knowledge at every stage of life.   Read More on Estate Planning Tips Here
 
 
 
When a shareholder claims that a director or officer has harmed a corporation through his or her improper conduct, these claims typically must be brought through a derivative action, in which the shareholder sues on behalf of the corporation. Ordinarily, however, a corporation’s board of directors has the authority to bring lawsuits on the company’s behalf, for the benefit of all of the shareholders.   Find Out More about Provisions Here >
 
 
 
The Governor recently signed 2018 Wisconsin Act 332, which affects a method to transfer real property without going through a probate proceeding known as a transfer on death (“TOD”) deed. The new law gives clients more options to transfer real property without having to go through a probate proceeding.  A TOD deed does not affect the current ownership of the property but essentially functions like a beneficiary designation would on a life insurance policy or retirement account – it designates who is to receive the property after the current owner’s death or upon the last death of multiple owners. Under the previous law, a person could transfer certain interests in real property to a designated beneficiary and avoid a probate proceeding by designating a beneficiary on a TOD deed.   Find Out More about Transfer on Death Deeds Here >
 
 
 
 
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