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Affiliated Attorneys, LLC Blog

Tuesday, October 1, 2013

Top 5 Overlooked Issues in Estate Planning

In planning your estate, you most likely have concerned yourself with “big picture” issues. Who inherits what? Do I need a living trust? However, there are numerous details that are often overlooked, and which can drastically impact the distribution of your estate to your intended beneficiaries. Listed below are some of the most common overlooked estate planning issues.


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Sunday, September 15, 2013

Could Student Loans Ruin Your Future?

“Neither a borrower nor a lender be,” advised Lord Polonius to his son Laertes in Shakespeare’s Hamlet. But few Americans seem to have taken his advice. Ever since the Diners Club Card was introduced to the masses back in 1949, consumers have been struggling with the temptation to overuse that little, seemingly innocuous piece of plastic. According to a study done by the Federal Reserve Bank of New York, the average American household vastly underestimates its debt. And creditcards.com found that the average household has over $15K of debt.

But there’s another kind of debt creeping up on American consumers – student debt. According to FinAid.org, total student debt surpassed credit card debt in the summer of 2010. Currently, the site’s “debt meter” clocks outstanding debt for students in the US at approximately $1 Trillion (and increasing by the minute). This is not surprising given that the cost of tuition has increased significantly; on average, college seniors now graduate with $25,000 in debt. And that rate can increase for graduate programs. Law students and medical students often graduate with debts in the six figures.


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Sunday, September 1, 2013

The Risks of Tenant-in-Common Investments

Historically, tenant in common (TIC) projects were owned by a relatively small group of investors who knew each other, such as long-time friends, business partners or family members. Strategies to maximize tax savings and preserve equity typically guided investors to this type of structure, rather than creating a limited liability company or partnership to own the property.


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Thursday, August 15, 2013

What’s Involved in Serving as an Executor?

An executor is the person designated in a Will as the individual who is responsible for performing a number of tasks necessary to wind down the decedent’s affairs. Generally, the executor’s responsibilities involve taking charge of the deceased person’s assets, notifying beneficiaries and creditors, paying the estate’s debts and distributing the property to the beneficiaries. The executor may also be a beneficiary of the Will, though he or she must treat all beneficiaries fairly and in accordance with the provisions of the Will.


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Thursday, August 1, 2013

Overview of the Ways to Hold Title to Property

You are purchasing a home, and the escrow officer asks, “How do you want to hold title to the property?” In the context of your overall home purchase, this may seem like a small, inconsequential detail; however nothing could be further from the truth. A property can be owned by the same people, yet the manner in which title is held can drastically affect each owner’s rights during their lifetime and upon their death. Below is an overview of the common ways to hold title to real estate:


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Monday, July 15, 2013

Issues to Consider When Gifting to Grandchildren

Many grandparents who are financially stable love the idea of making gifts to their grandchildren. However, they are usually not aware of the myriad of issues that surround what they may consider to be a simple gift. If you are considering making a significant gift to a grandchild, you should consult with a qualified attorney to guide you through the myriad of legal and tax issues that are involved in making such gifts.


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Saturday, June 15, 2013

Senior Citizens Comprise Growing Demographic of Bankruptcy Filers

It’s called your “golden years” but for many seniors and baby boomers, there is no gold and retirement savings are too often insufficient to maintain even basic living standards of retirees. In fact, a recent study by the University of Michigan found that baby boomers are the fastest growing age group filing for bankruptcy. And even for those who have not yet filed for bankruptcy, a lack of retirement savings greatly troubles many who face their final years with fear and uncertainty.


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Wednesday, May 15, 2013

Negotiating a Commercial Lease? Be Sure to Address These Issues

When it comes time for your business to move into a new commercial space, make sure you consider the terms of your lease agreement from both business and legal perspectives.  While there are some common terms and clauses in many commercial leases, many landlords and property managers incorporate complicated and sometimes unusual terms and conditions.


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Wednesday, May 1, 2013

6 Events Which May Require a Change in Your Estate Plan

Creating a Will is not a one-time event. You should review your will periodically, to ensure it is up to date, and make necessary changes if your personal situation, or that of your executor or beneficiaries, has changed.


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Monday, April 1, 2013

Six Questions to Ask Yourself Before Filing Bankruptcy

The decision to file bankruptcy is not one to be taken lightly. Nevertheless, if you are burdened by heavy debt you may see no alternative to seeking protection through the bankruptcy courts. Whether or not this is the best course to pursue depends on a number of factors.  Asking yourself the following questions can help you determine whether bankruptcy is right for you.


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Friday, March 1, 2013

Estate Planning Don’ts

Preparing for the future is an uncertain business, but there are steps you can take during your lifetime to simplify matters for your loved ones after you pass, and to ensure your final wishes are carried out. Planning for what happens to your property, or who cares for your family members, upon your death can be a complicated process. To simplify things, we’ve created the following list to help you avoid some of the pitfalls you may encounter before, or even long after, you create your estate plan.


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Serving Southeastern Wisconsin, with offices in Milwaukee and West Bend, Affliated Attorneys, LLC represent clients throughout Milwaukee County, Washington County, Waukesha County, Dodge County, Ozaukee County, Racine County, Sheboygan County, Jefferson County, Fond du Lac County and Walworth County.



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