Your Trusted Partners For

ESTATE PLANNING

Give Your Legacy

Do you have a Revocable Living Trust already in place? Did the lawyer who drafted it discuss with you all the tax consequences that you created for your kids? If your answer is limited to: “I’m not wealthy enough to pay estate tax, so there are no tax issues to address,” then we should talk because you may be setting your kids up for paying higher federal income taxes on your assets after you pass away. At Nylen & Partners, LLC, we see clients consistently under-served by not understanding how the income tax rules work or how beneficiary designations can drastically change tax outcomes for your children.

Wills, Trusts, Power of Attorney, and More
Are you concerned about your estate or current lack of planning? Will your legacy be left to your heirs or will it be consumed by unintended beneficiaries? Creating an estate plan is a crucial first step to protect your estate from unintended beneficiaries. But drafting just a will does not mean you have an estate plan. What were to happen if you became incapacitated? Could your spouse sign your name to a tax return? Could you get access to your 18 year-old child’s hospital records? Do you have transfer on death (TOD) designations on your titled property? What happens if you die and your TOD lists your child, and that child is currently being sued or getting divorced? Those assets that have TODs attached to your kids will still get transferred and you will lose the ability to pass on your assets to your kids. Creating a revocable trust can solve this issue. These are problems that having an estate plan can solve.

Was an IRA your main asset that you accumulated wealth in? Do you want to pass on any of your wealth to your kids? Do you want the protections of a trust, but the income tax benefits of a beneficiary designation? If so, there are specific types of trusts that can be drafted that protect your IRA with the same protections of trusts yet still receive the income tax benefits of beneficiary designations (known as “stretch” out payments). N&P can help you solve this problem.

When an individual or family creates a trust, a designated trustee must be chosen. Nylen & Partners can take on this role. By selecting Nylen & Partners to be the trustee of your trust, you can be confident that assets in your trust will be distributed in accordance with the estate plan.

Taxes are often one of the most important financial aspects of estate planning. By understanding the implications of estate, income, and payroll taxes clients can be assured that they will have a more complete financial picture of the their assets and wealth.

Going through probate can be a daunting task without a lawyer. Our lawyers can help you navigate the probate process and file the right forms by the right deadlines.

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    Your Estate Planning Team

    Paul Nylen

    Estate & Tax Attorney and CPA

    Paul is currently an Associate Professor of Accounting & Tax at The University of Wisconsin – Whitewater. His expertise is in US tax law as well as blockchain and cryptocurrency. Prior to academics he was an International Tax Manager at Deloitte LLP in Milwaukee, Wisconsin. He graduated from the Marquette University Law School and is admitted to the Wisconsin Bar. Before attending law school he completed an undergraduate degree in economics at the University of Iowa and then a Master of Accountancy at the University of Iowa. Paul is also an active CPA. While at Iowa, he spent his free time coaching competitive club soccer.

    Nathan Osborn

    Estate & Tax Attorney

    Nathan is a partner attorney at Nylen & Partners and is an estate planning attorney. Nathan is a Marquette University Law School graduate and is licensed to practice law in the state of Wisconsin. Prior to practicing law Nathan worked as the Retail Portfolio Department Manager for Komatsu Industries. Nathan’s experience growing up on a farm had an impact on his decision to pursue estate planning as an attorney. He understands that every client’s situation is different, which requires a nuanced approach to their needs, so they have the best plan possible when working with him. Alongside his work as an estate planning attorney, over the years Nathan has volunteered his services and time as a legal advocate to various non-profit organizations in the Madison and Milwaukee area. When Nathan is outside the office, he spends his time on the farm with his wife, Kate, and their 3 children. He plays guitar and has inadvertently started his own collection. When Fall hits Nathan can be found tuning in to the MLB playoffs and the World Series no matter who is playing.

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