Probate & Estate Planning

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Beneficiary designations (or sometimes called TOD [Transfer on Death] or POD [Payable on Death] designations) may be placed on almost any financial asset.  A Non-Probate Transfer at Death Deed (“TOD Deed”) may be used to transfer Wisconsin real estate without court to whomever the grantor names in the TOD Deed.  If a Decedent designates beneficiaries on all but fifty thousand dollars’ worth of his or her property, the Decedent will have avoided probate. While this strategy is not appropriate…
Continue Reading Satisfying Bequests in a Will While Avoiding Probate

Starting a business can be a daunting task, especially when it comes to choosing the right business structure. Three common options are sole proprietorships, DBAs, and limited liability companies (LLCs). While each structure has its advantages and disadvantages, understanding the differences between them is important to help you make an informed decision.

A sole proprietorship is the simplest and most common business structure. In reality, it isn’t a business structure at all.  It is a business owned and run…
Continue Reading What is the Difference Between a Sole Proprietorship, a DBA, and an LLC?

What to do with an inherited IRA can seem overwhelming at first, but inheriting an IRA can be a significant financial asset. It’s important to understand the options available to you and how to make the most of the money you’ve inherited. If you’ve inherited an individual retirement account, there are many planning decisions that need to be made from tax implications to planning for your new investment. Learn the steps you should take and learn what to do…
Continue Reading 4 Things To Do When You Inherit an IRA

It is no secret that interest rates have been rising over the last year and it is unclear whether interest rates will come down any time soon.  As widely reported, the rise in interest rates has cooled the real estate market causing some buyers to pause moving forward with real estate purchases. As an alternative to traditional financing, a land contract, also known as a contract for deed, is a legal agreement in which the real estate seller agrees…
Continue Reading Land Contracts in Wisconsin: What Buyers and Sellers Need to Know

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The post Attorney Andrew J. Steimle – Just the Facts 2/9/2023 – Potential Enforcement Changes Regarding Non-Compete Agreements, Changes to WI’s LLC laws, and Top-10 Contract Tips appeared first on Steimle Birschbach, LLC.
Continue Reading Attorney Andrew J. Steimle – Just the Facts 2/9/2023 – Potential Enforcement Changes Regarding Non-Compete Agreements, Changes to WI’s LLC laws, and Top-10 Contract Tips

By:  Attorney Alison C. Petri
You hear about it all the time and don’t think it will happen to you but what should you do if you or your loved ones are a victim of a fraud or con.
Scams arise in many ways by phone, mail and the internet.  According to the FBI, fraud of Americans over the age of 60 resulted in more than $966 million dollars stolen in 2020 alone[1].  The loss of money…
Continue Reading Beware of Scams!

The Federal Trade Commission (FTC) recently proposed a rule that would ban the use of noncompete clauses in employment contracts.  Noncompete clauses have faced increased scrutiny by the FTC and the proposed rule is part of the FTC’s larger effort to promote competition and protect consumer welfare.

The FTC and other proponents of the abolition allege that noncompete clauses reduce employee mobility and lead to reduced innovation and higher prices for consumers. By banning noncompete clauses, the FTC hopes…
Continue Reading Noncompete Agreements in the Crosshairs: What Business Owners and Employees Need to Know

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The post Attorney Gina Ziegelbauer – Just the Facts 11/23/22 – Personalizing Your Estate Plan: Beware of Online Estate Planning Forms appeared first on Steimle Birschbach, LLC.
Continue Reading Attorney Gina Ziegelbauer – Just the Facts 11/23/22 – Personalizing Your Estate Plan: Beware of Online Estate Planning Forms

In April of 2022, Governor Tony Evers signed into law 2021 Wisconsin Act 258, introducing significant changes to the law governing Wisconsin limited liability companies (LLCs). On January 1, 2023, the Revised Uniform Limited Liability Company Act will govern Wisconsin LLCs (WULLCL).

How Does This Change Affect My Current LLC?

For currently formed Wisconsin LLCs or LLCs created on or before December 31, 2022, you have three options:

1) File a Statement of Nonapplicability with the Wisconsin Department of…
Continue Reading Business Owner Alert: Limited Liability Company Law Changes Coming in 2023

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The post Attorney Andrew Steimle – Just the Facts 9/21/2022 – Items to Consider if Buying or Selling a Business in 2022 appeared first on Steimle Birschbach, LLC.
Continue Reading Attorney Andrew Steimle – Just the Facts 9/21/2022 – Items to Consider if Buying or Selling a Business in 2022

Steimle Birschbach, LLC, a boutique law firm concentrating in matters relating to business, real estate and estate planning (including elder law and post-death administrations), is seeking an attorney to join our team.  The ideal candidate will have 2-3 years’ experience but all applicants will be considered.  Steimle Birschbach, LLC has a northeastern WI presence with offices in Manitowoc and Sheboygan.  This position is intended to focus on our Manitowoc market.  This is a fantastic opportunity to build a career…
Continue Reading We Are Hiring – Business, Real Estate and Estate Planning Attorney – Manitowoc, WI

By: Attorney Thomas A. Griesbach and Attorney Samuel J. Spurney

The Corporate Transparency Act became law on January 1, 2022 and implements Beneficial Ownership Information (“B.O.I.”) reporting requirements on most small businesses in the United States.  The Act will create a national database available to law enforcement to crack down on money laundering through “shell corporations”.  The reporting requirements will not come into effect until the Treasury issues final regulations on the matter, but all business owners should be…
Continue Reading Corporate Transparency Act: New Beneficial Ownership Information Reporting Requirements

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The post Attorney Alison Petri – Just the Facts 5/25/22 – Unique Estate Planning Considerations for Adult Children with Disabilities appeared first on Steimle Birschbach, LLC.
Continue Reading Attorney Alison Petri – Just the Facts 5/25/22 – Unique Estate Planning Considerations for Adult Children with Disabilities

Earlier this year the IRS released proposed regulations on the SECURE ACT.   The SECURE ACT made drastic changes to the rules governing inherited retirement accounts, effective January 1, 2020, but there has been little guidance from the IRS on the Act’s provisions until now.

The SECURE ACT seemed to replace the rule that a designated beneficiary must take out a yearly required minimum distribution (“RMD”) based upon his or her life expectancy (the “Life Expectancy Rule”) with a simple…
Continue Reading Proposed Regulations on the SECURE ACT

These days there are several websites offering online do-it-yourself legal forms that promise easy, inexpensive legal forms. One such website says “there’s no easier way.” However, the biggest problem with these sites is they cannot provide any advice. When it comes to estate planning or business formation, there is a lot more involved than just filling out forms.

Details Matter.  In estate planning, and any other legal documents for that matter, the details matter. Seemingly minor things like whether…
Continue Reading What’s Wrong with Online Will Forms?