Wausau, WI Estate Planning

End of Life Plans - Wausau, Wisconsin

When planning for your end-of-life care there are some important things to keep in mind beyond just having the proper legal documents in place.

You likely have heard that you need a general durable power of attorney, a health care power of attorney and a living will in place for your end-of-life care. If you have not, then be advised that these documents are necessary for someone else to take care of your affairs when you are no longer able to do so and to let health care professionals know what treatments not to use to prolong your life when you have no hope of recovery.

Talk to an estate planning attorney to get these documents if you do not already have them.

Beyond those documents, however, there are a few other things that you need to do as Barron's points out in "Three End-of-Life Estate Plan Lessons."

The other tips include:

• If you have an estate plan, then it is important to let your family know what state you want to be in at the end of your life. Your estate plan should be tailored to the individual laws in your state. If you are moved to another state, the plan might not be as effective.
• You need to pick the strongest surrogates for your powers of attorney as possible. They need to be people who know how to handle things. They also need to be people who have the willpower to stand up to other loved ones who might disagree with the decisions being made.
• If you think your child might be overly emotional or too heartbroken, do not put that child in the position to tell the doctors when to remove you from life support. Pick someone else to do that.

Reference: Barron's (Nov. 8, 2016) "Three End-of-Life Estate Plan Lessons."

If you or someone is interested in creating estate planning documents or would like more information, please let Hougum Law Firm, LLC be your guide.

Curtis Hanson's Will Revealed - Wausau, Wisconsin

The details of director Curtis Hanson's will have been revealed. He left plenty of assets for his family.

Film director Curtis Hanson passed away from an apparent heart attack in September. He left behind a long-time partner, Rebecca Yeldham, and their 12-year-old son. Some of the details of his estate are now becoming public. He left behind a trust that names Yeldham, their son and several other family members as beneficiaries.

The assets in the trust are unknown, but his estate contains approximately $5 million in assets that were not part of the trust. Those assets will have to be distributed according to his will.

Yeldham has requested to be named his executor, as TMZ reported in "'8 Mile Director Generous Will Covers His Kid and Many, Many More."

As of now there are no known disputes over Hanson's estate. However, it is important to note that despite having an estate plan, he may have left the estate vulnerable to disputes. Approximately $5 million in assets that have to be distributed is potentially enough for someone to consider mounting a challenge to his will.

For this reason, estate planning attorneys generally advise that valuable assets be transferred to a trust. It is not clear why Hanson did not have all of his assets in trust

Of course, as Hanson appears to have been generous with his family it is possible that everyone is satisfied. However, it is not known at this time whether anyone was left out of the will or trust.

Please contact Hougum Law Firm, LLC for all of your estate planning needs.

Reference: TMZ (Nov. 13, 2016) "'8 Mile Director Generous Will Covers His Kid and Many, Many More."

End of Life Technology Apps - Wausau, Wisconsin

A new crop of technology companies is attempting to capture a slice of the end-of-life care and estate planning industries. Users should proceed with caution.

People are more comfortable using the latest technology than ever before. Older generations are now mostly aware of how the Internet works and how to use apps on their phones. The Millennial generation can barely remember, if they can remember at all, a time when technology was not used for almost everything.

However, apps and online services for end-of-life and estate planning have been relatively slow to catch on. Some new start-ups are hoping to change that as the New York Times reported in "Start-Ups for the End of Life."

One app that is discussed allows people to get a customized estate plan supposedly tailored to their state laws. A user reported that she compared the will the app gave her to one her parents had an attorney draft and it looked the same.

Looks can be deceiving.

As with downloadable will forms available from some websites, an estate plan created by an app might not be the best estate plan for everyone's needs and it is only valid if it is properly executed. If things are not done precisely right, any money saved by using the app will be much less than money spent trying to fix any problems in probate or otherwise.

It might not be as convenient and it might cost more upfront. However, only an attorney can create an estate plan that is truly customized for an individual's needs and ensure that the plan is legally valid.

Please contact Hougum Law Firm, LLC to ensure you receive the finest estate plan for your needs.

Reference: New York Times (Nov. 2, 2016) "Holding Vacation Homes in Trust."

Singing Wills - Wausau, Wisconsin

More than ever before people are planning for their end-of-life circumstances. Some even plan for what music they want played while on their death beds.

Many people today make plans for their end-of-life care. Some of those plans have legal effect, such as living wills, general durable powers of attorney, and health care powers of attorney. Other plans are more aspirational.

While some people might prefer to pass away at home instead of in a hospital or hospice, those “plans” can be thwarted by medical necessity. Another somewhat aspirational plan is a “singing will,” as described by New York Times columnist Mark Vanhoenacker in "My Deathbed Playlist (and Yours)."

The idea is to create a list of the music you want to be played when you are at the end of life. It is a playlist of songs that meant something to you during your life – the hearing of which will make the experience of passing away more meaningful.

At least, that is what the people who create them believe.

Of course, a singing will has no legal effect and the circumstances of someone passing away might preclude the playing of specific music. Regardless, you should plan for your own end-of-life care.

Everyone should have the basic legal documents of a living will, a general durable power of attorney and a health care power of attorney created long before they anticipate needing them.

Creating a singing will might not be for everyone, but for those interested creating one cannot hurt anything.

If you are interested in creating a will, please visit Hougum Law Firm, LLC.

Reference: New York Times (Nov. 5, 2016) "My Deathbed Playlist (and Yours)."

Maurice Sendak's Book Collection - Wausau, Wisconsin

A probate court in Connecticut has reached a ruling determining whether some of Maurice Sendak's book collection will remain in a Philadelphia museum or be returned to his estate.

The Rosenbach Museum and Library in Philadelphia had housed many original drawings and books owned by Maurice Sendak the author of Where the Wild Things Are. Most people believed the collection would stay at the museum. However, his will contained provisions that his estate should create a foundation and a museum in Connecticut to make the items available for public viewing.

In 2014, Sendak's estate took the items back from the museum. The museum filed a lawsuit in Connecticut probate court because Sendak's will also included a provision that "rare edition" books should be given to the Rosenbach.

In short, the court had to determine whether 340 books could be considered rare editions, including illuminated volumes of William Blake's poetry that could be worth millions.

The court recently ruled that 88 of the books should remain with the Philadelphia museum but the rest should go to the estate.

This legal intrigue was reported by the New York Times in "Maurice Sendak's Estate Is Awarded Most of a Book Collection."

The lesson to be learned here?

It is important to be as precise as possible when creating an estate plan. While to some experts it might seem obvious whether or not a particular book edition is rare, the term leaves room for disagreement as this lawsuit illustrates.

Sendak could have been specific about exactly which titles he wished to remain at the museum in Philadelphia and which he wanted to belong in a new museum in Connecticut.

If you would like more information on estate planning, please contact Attorney Alan L. Hougum.

Reference: New York Times (Nov. 1, 2016) "Maurice Sendak's Estate Is Awarded Most of a Book Collection."

The Importance of a Valid Will - Wausau, Wisconsin

An estate battle over a New York City apartment building illustrates that legalizing gay marriage did not fix all estate problems for the LGBT community and that wills need to be executed in strict accordance with the law to be valid.

For 55 years Bill Cornwell and Tom Doyle lived as a gay couple in a New York apartment building solely owned by Cornwell. The couple lived in one of the building's four apartments.

After gay marriage became legal in New York, the two thought about getting married. However, at their advanced age they did not want to make the trip to the courthouse. Cornwell drafted a will that left the apartment building to Doyle. Unfortunately, the will was only witnessed by one person and New York requires that two people witness a will for it to be valid.

As a result, when Cornwell passed away his nieces and nephews laid claim to the apartment building as his closest living relatives.

 

 

                           

The New York Times reports on this saga in "A Brownstone and the Bitter Fight to Inherit It."

The nieces and nephews made plans to sell the building. They did include provisions in the sales agreement that Doyle was to be allowed to live in the apartment for five years at a rent of $10 per month and that he was to receive $250,000 from the sale.

That did not satisfy Doyle and he has sued the nieces and nephews.

He claims that he and Cornwell were common law married, but New York does not recognize common law marriages. His claim relies on having visited Pennsylvania with Cornwell to purchase a dog at a time when that state did recognize common law marriages.

The biggest lesson to be learned from this case is that it is important to use an estate planning attorney for assistance in drafting and executing your will. The battle over this estate could have been avoided entirely as the attorney would have known that the will required two witnesses to be valid in New York.

If you are interested in creating a will, please contact our office for a complimentary consultation.

Reference: New York Times (Oct. 23, 2016) "A Brownstone and the Bitter Fight to Inherit It."

Shoe Salesman Leaves $1 Million to School - Wausau, Wisconsin

A career shoe salesman from a small town in Washington left nearly $1 million to his alma mater in his will.

Based on observing his lifestyle no one would have assumed Ken Millen of Aberdeen, WA had a lot of money to spend. He lived his entire life in the house where he grew up and was so thrifty he used duct tape to hang his curtains instead of purchasing curtain rods.

Millen had attended two years of school at Grays Harbor College and then spent his entire working life as a salesman at a local shoe store. He only left the store when the business closed.

Millen was never married and had no children. He had a brother who was a law professor. When the brother passed away, he left everything he had to Millen.

It did not change how Millen lived at all. When Millen himself passed away it was discovered that his brother left him a substantial sum of money. So much, in fact, that Millen visited a local attorney and had a will drafted that included a nearly $1 million gift to his alma mater Grays Harbor College.

The Los Angeles Times has more on this story in "This shoe salesman lived an unassuming life. Then he died, and his hometown got quite the surprise."

This is another in a long example of people who lived frugally and gave generously in their wills to charitable causes. What it shows is that anyone can save money and, with the foresight to have an estate plan drawn up, can leave that money to causes and organizations they support.

If you would like to learn more about leaving money to charity after you pass away, visit Hougum Law Firm, LLC.

Reference: Los Angeles Times (Oct. 14, 2016) "This shoe salesman lived an unassuming life. Then he died, and his hometown got quite the surprise."

Will of ‘Scotland's Schindler’ Found Wausau / Wisconsin

The will of a woman who protected Jewish orphans during the holocaust has been found in a Scottish church.

Jane Haining is considered a martyr by the Church of Scotland and has been called "Scotland's Schindler" for her actions during World War II.

In 1932, she left her native Scotland to work in a church-run school for orphan girls in Budapest. When the war broke out she was advised to return home, but she declined to do so. Instead, Haining used the school to shelter and protect Jewish girls from the Nazis.

She was successful and managed to evade capture for 4 years.

Haining was eventually turned in and charged with various crimes for which she was convicted and sent to Auschwitz. Under unknown circumstances she passed away in the concentration camp in 1944.

Fox News now reports that Haining's handwritten will has been found in the archives of a Scottish church in "Holocaust heroine's will, lost photos, unearthed in Scotland."

The will is short and sparse, but it is considered to be a treasure.

The will of this heroine should be of interest to historians who want to learn more details about the people who died in the holocaust and the people who tried to protect them.

If you are interested in learning more about wills, please contact our office.

Reference: Fox News (Sept. 14, 2016) "Holocaust heroine's will, lost photos, unearthed in Scotland."

Phil Taylor Left Nothing to Missing Wife Wausau / Wisconsin

The recently deceased former Motorhead drummer, Phil Taylor, had a long-lost wife. He left nothing for her in his will.

Phil Taylor, known to fans as Filthy Animal, was a long-time drummer for the legendary hard rock band Motorhead. Although Taylor had not performed with the band in over a decade, he is mourned by fans. There is one person, however, who might not be mourning his passing - ex-wife Thera Ann Johnson.

The public first learned about this wife in Taylor's will in which he acknowledged her and claimed to not to have had contact with her since shortly after their marriage. Taylor had actually divorced Johnson about two weeks before his death. Although he was unable to find her to have divorce papers served upon her, the divorce was granted because the two had been separated for such a long time. Taylor's two sisters will receive most of his estate.

The Daily Mail reported on this story in "Motorhead drummer Phil Taylor snubs his 'lost' wife in his £1 million will."

Taylor passed away in the United Kingdom and that country's laws will apply to his will. It is still useful, however, to understand what would happen in the U.S. in a similar situation.

Ordinarily, it is not possible to exclude a spouse from a will completely. A spouse who is excluded can accept that decision or he or she can choose to take a portion of the estate that is called a "spousal elective share." The portion varies from state to state and often by the length of the marriage, but it is normally 50%.

An exception can often be made in cases where the surviving spouse has abandoned the deceased. The court can decide to not allow the spousal elective share because of abandonment. However, that is only if the couple was married at the time of death. In this case they had been previously divorced. As long as the divorce is valid, then the spousal elective share law does not apply.

Reference: Daily Mail (June 11, 2016) "Motorhead drummer Phil Taylor snubs his 'lost' wife in his £1 million will."

Things Prince Can Teach You about Estate Planning Wausau / Wisconsin

You have probably heard that Prince died without a will. There are important things about estate planning that you can learn from that.

Despite a net worth of millions of dollars the musician Prince never had a will drafted or any other form of estate planning documents that anyone knows about. His fans can learn a lot about estate planning from that failure to plan, as Forbes discusses in "5 Things Prince's Family, And You, Should Know About Estate Planning."

The important lessons to be learned include:

• Intestate – People who pass away without having a will are called "intestate," which means the court has to appoint someone to oversee the estate and then all assets will be divided according to a statutory scheme.
• Public – Not having an estate plan means the estate will be open to the public and details about the deceased's assets will also be public.
• Costs – Normally, not having a will leads to extra costs and fees as experts need to be hired to shepherd the estate through the probate process.
• No Choice – If a person has an estate plan, he or she can determine how the assets of the estate are divided and distributed to loved ones. However, in the absence of a will the court has no choice but to divide the assets according to what the statute books mandate.
• Plan Now – Prince most likely did not expect to pass away when he did. Perhaps he thought he had plenty of time to get an estate plan at a later date. However, as his death illustrates, you never know when you will pass away. For that reason it is important to plan for your estate now even if you do not think you need to.

Contact our office today to make sure you have a plan in place.

Reference: Forbes (May 18, 2016) "5 Things Prince's Family, And You, Should Know About Estate Planning."