Thursday, October 25, 2012

Pearls of Wisdom: Estate Planning and Probate

Yesterday and today I have been attending the annual CLEW Tax Law update in Madison.  A day and a half packed with tax concepts, code citations, and esoteric terms.  For the registration fee I walk away with the following three pearls of wisdom, which anyone can benefit from in the world of estate planning and probate:

  1. File things on time, and avoid creating a questionable issue the court will have to decided (i.e. is priority mail the same as certified mail; the answer in the eyes of Wisconsin's Department of Revenue is no);
  2. Read the entire trust (or insert the name of any legal document; will, contract, form, etc.); and
  3. Keep it simple -- the most elegant solution to problems does not require brilliance, but rather appreciation by the government employees reading the legal forms created.
Nothing profound.  Concepts available to all, not just those with a multitude of letters after their name.  Common sense, but often overlooked.  I am thankful for the wisdom conveyed, and will be back next year for the 47th annual update in 2013.

Image credit: - free image

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