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Horn & Johnsen News

Horn & Johnsen SC > Horn & Johnsen News (Page 6)

Cabin Trusts – Let’s Keep It In The Family!

In Wisconsin, I have many clients who own a family vacation home “Up North”.  In fact, within my own family, we have a lovely cabin in Vilas County where we spend many relaxing holiday weekends together.  Therefore, I personally understand the importance of planning to ensure a treasured family cabin can remain within the family following the death of a parent or parents. Within a revocable living trust, a popular and very effective option is to create a separate “Cabin Trust” that will spring into existence upon the death of the trustor(s) (note that the “trustor” is the person who creates...

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Protect Your Pets with a Pet Trust!

What will happen to Fluffy or Benji upon your death? One would hope that a family member or other loved one would agree to care for your pet and expect nothing in return. After all, anyone who knows you fully appreciates that your pet is not just an item of personal property, but a member of your family… right? Unfortunately, many pets are abandoned after the death of their owners. According to the ASPCA, about half of all pets that end up in animal shelters are euthanized. Caring for another person’s pet can be a great personal responsibility, not to mention...

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Providing Divorce Protection for Your Children

Providing Divorce Protection for Your Children Despite the fact that the Baby Boomer generation has seen high divorce rates, my experience has been that parents of Baby Boomers generally did not wish to discuss divorce protection for their children and grandchildren.  Times have changed… Most people now acknowledge that divorce is a common occurrence.  Therefore, why not provide your beneficiaries with the opportunity to protect their inherited assets in the event of a future divorce? Traditional estate planning, including the use of direct beneficiary designations, wills, and “bare bones” living trusts, usually provide for an outright distribution to your beneficiaries upon your death.  Most...

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