How can I protect my assets from taxes?

In Wisconsin, you can protect your assets from taxes by constructing a valid will or through probate. A will is a legally binding document that explains what will happen to your possessions and money when you pass away. The terms of the will must be followed, or the will may be invalidated. The will allows you to name beneficiaries, who will receive your assets, as well as giving you the option to establish trusts and set up a payment plan. This way, your assets can be distributed according to your wishes, without being subject to estate or income taxes. Another way to protect your assets from taxes in Wisconsin is through probate. Probate is the legal process of validating a will and distributing the estate according to its terms. The court will examine the document to make sure it is valid, and then allocate assets to beneficiaries. Probate can provide protection to your beneficiaries, as they are not required to pay taxes on the property they receive. Both wills and probate are valuable tools for protecting your assets from taxes in Wisconsin. However, it is important to consult with an attorney to ensure that your will and probate documents are properly constructed and filed, so that your desired outcomes are protected.

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How can I protect my assets from taxes?

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