Duffey Law Offices

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An Irrevocable Life Insurance Trust is created specifically for the purpose of owning your life insurance policy. A properly established and administered trust holds the policy outside of your estate and keeps the proceeds from being taxable to your estate. The proceeds from the insurance policy can then be used to provide your estate with the liquidity to pay estate taxes, pay off debts, pay final expenses and provide income to a surviving spouse or children. The ILIT will be the policy owner and beneficiary.

Although there are many important things to think about when choosing a business form, some of the main considerations include your preference of tax treatment, how you intend to capitalize the business, whether you plan to issue stock and trade it publicly, how you intend to structure the management of your business and issues surrounding the liability of the business owners, among other things. It is very important to plan your business and to work closely with someone who can help you choose the business form that will meet your needs.

Duffey Law Office is a full service general practice law firm located in Milwaukee, WI serving businesses and individuals throughout Southeastern Wisconsin. We assist businesses and individuals in legal matters involving business law , estate planning and probate administration , family law , personal injury and real estate .

Disputes with Other Companies : Litigation often arises when a customer or client is dissatisfied with a company’s product or services, including disputes with suppliers, vendors or manufacturers.

It is important that your estate plan address issues regarding the upbringing of your children. If your children are young, you may want to consider implementing a plan that will allow your surviving spouse to devote more attention to your children, without the burden of work obligations. You may also want to provide for special counsel and resources for your spouse if you believe they lack the experience or ability to handle financial and legal matters.

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