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New year, new estate plan?

Posted on Jan 8, 2019

As we begin 2019, consider adding a review of your estate plan to your list of New Year’s resolutions. For most people, it is appropriate to review your estate plan every two to three years, or whenever a life-altering event occurs (e.g., marriage, divorce, a significant change in job or health, birth or adoption of a child). In addition, the following are a few non-tax reasons to review your estate planning documents: Children Need Powers of Attorney.  Any child of yours that has attained the age of 18 since you implemented your estate plan (especially those away at college) should have...

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Fireside Chats During the Holiday Season

Posted on Dec 18, 2018

As the holidays approach and families gather together, topics like long-term care and estate planning are likely to be the last thing on your mind.  However, the holidays are the perfect opportunity to discuss these difficult issues with your loved ones.  For older relatives, it is important to discuss whether he or she has planned for future incapacity and/or assisted living or nursing home care needs. In addition, if you and your older family members already have existing advance health care directives and powers of attorney for finance in place, the holidays are a good opportunity to...

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Evan Y. Lin Named to the 2018 Wisconsin Super Lawyers List

Posted on Nov 19, 2018

Evan Y. Lin, an attorney and managing member of Lin Law LLC, has been named to the 2018 Wisconsin Super Lawyers list by the publishers of Super Lawyers® Magazine.  Each year, only 5% of attorneys in Wisconsin are named a Super Lawyer.  Evan was previously named to the 2015, 2016 and 2017 Wisconsin Super Lawyer list and was also named five times to the Wisconsin Rising Star list in Estate Planning and Probate by the same publication. Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional...

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Up the river without a paddle – is one power of attorney as good as the next?

Posted on Nov 15, 2018

Not all powers of attorney are created equal.  When planning for future incapacity, particularly if you anticipate requiring governmental benefits such as Medicaid, it is important that your financial power of attorney provide your agent(s) with all the powers he or she might need to provide for your elder law or special needs objectives.  These powers may include, but are not limited to, the ability to: -          Create and fund revocable, irrevocable, or supplemental needs trusts; -          Make gifts above the annual exclusion amount or to him or herself, if...

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We get by with a little help from our friends – Supported Decision-Making Agreements for functionally impaired adults.

Posted on Nov 5, 2018

In April 2018, the Wisconsin State Legislature passed legislation to create Chapter 52 of the Wisconsin Statutes, authorizing the use of Supported Decision-Making Agreements in the State of Wisconsin.   Wis. Stat. § 52.01(6) defines “supported decision-making” as “a process of supporting and accommodating an adult with a functional impairment to enable the adult to make life decisions… without impeding the self-determination of the adult.” Accordingly, a Supported Decision-Making Agreement can authorize the principal’s supporter (or supporters, if the principal desires more...

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Medicare vs. Medicaid: Do you know the difference?

Posted on Oct 1, 2018

When speaking about public benefits, people often confuse Medicare and Medicaid.  After all, they do basically the same thing, right?  Not exactly… Medicare is available to all individuals age 65 and older, in addition to chronically disabled individuals of any age, irrespective of resources (i.e., assets).  It is federally administered and beneficiaries are often responsible for co-pays and premium payments.  Medicare has four parts, each providing distinct benefits: 1.       Part A (Hospital Insurance) – provides coverage for hospital costs and related           services...

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