Your Trusted Partners For

ESTATE PLANNING

Preserve Your Legacy the Right Way

Do you already have a Revocable Living Trust in place? If so, did the attorney who prepared it fully explain the potential tax implications for your children?

If your response is something like, “I’m not wealthy enough to worry about estate taxes, so there’s nothing to consider,” then it might be time for a deeper conversation.

We often see clients who’ve been unintentionally set up for costly tax consequences—simply due to a lack of guidance. Many are unaware of how federal income tax laws work or how beneficiary designations can significantly impact what their children ultimately inherit.

Wills, Trusts, Power of Attorney, and More

Is Your Legacy Protected?

Are you concerned about your estate—or the fact that you haven’t made any plans yet? Will your assets truly go to your intended heirs, or could they end up in the hands of unintended beneficiaries?

Creating an estate plan is a vital first step to protect what you’ve worked so hard to build. But having a simple will does not mean you have a comprehensive estate plan.

Consider this:

  • What happens if you become incapacitated?

  • Can your spouse legally sign your tax return?

  • Could you access your 18-year-old child’s medical records?

  • Do you have Transfer on Death (TOD) designations on your assets?

If one of your children is going through a divorce or legal action, and they are listed on a TOD, those assets could be at risk. Even with good intentions, without proper planning, your legacy could be exposed to unnecessary complications and losses.

Establishing a revocable trust can help address these concerns and ensure your estate is managed and distributed according to your wishes.

Protecting Your IRA While Preserving Your Legacy

Is your IRA the cornerstone of your retirement savings? Are you looking to pass that wealth on to your children—while ensuring it’s protected and tax-efficient?

With the right planning, you don’t have to choose between asset protection and income tax advantages. Certain types of trusts can be specifically designed to safeguard your IRA while still allowing for the tax benefits of beneficiary designations, such as “stretch” distributions.

These strategic trusts provide the control and protection of a traditional trust, while helping your heirs minimize tax liability over time.

Choosing the Right Trustee Matters

When an individual or family establishes a trust, selecting a trustee is a crucial decision. The trustee is responsible for managing and distributing the trust’s assets according to the terms of your estate plan.

By carefully choosing a trustworthy and capable trustee, you can feel confident that your wishes will be honored and your assets will be distributed as intended.

Tax Advice & Planning

Taxes play a critical role in effective estate planning. By understanding how estate, income, and payroll taxes impact your overall financial picture, you can make more informed decisions about preserving and transferring your wealth.

If you find yourself facing the probate process, it’s important to seek out a qualified attorney. Navigating probate can be complex and overwhelming without proper legal guidance.

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    Your Estate Planning Team

    PAUL C. NYLEN, JD, CPA, MAC

    Partner, Attorney and CPA, N&P

    Paul C. Nylen is currently a partner of Nylen & Partners, LLC (N&P). Prior to N&P he practiced international tax at Deloitte Tax, LLP in Milwaukee, WI. He is a graduate of Marquette University Law School and is a licensed attorney in the state of Wisconsin. Prior to law school he graduated from the University of Iowa with a master degree in accounting (taxation emphasis).

    NATHAN C. OSBORN, JD

    PARTNER/ATTORNEY, N&P

    Nathan C. Osborn is a partner of Nylen and Partners, LLC (N&P). He is a Marquette University Law School graduate and is licensed to practice law in Wisconsin. Prior to practicing law, Nathan managed the Retail Portfolio Department for a large construction equipment manufacturer. Nathan has helped hundreds of families with their estate planning needs and truly understands how important this crucial area of your life is.

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