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- Estate Planning
- Free Consultation
Jurisdictions Admitted to Practice
- Oneida Appeals Commission
- Menominee Tribal Court
- Stockbridge-Munsee Tribal Court
- U.S. District Court, Western District of Wisconsin
- Krause Donovan Estate Law Partners, LLC
- NYU School of Law
- J.D. / Law
- Honors: Dean’s Merit Scholarship
Fellow for Institute of Judicial Administration
- NYU Graduate School of Arts and Sciences
- M.A. / Philosophy
- University of Wisconsin - Stevens Point
- Honors: Chancellor’s Medallion; Academy of Letters & Science Distinguished Achievement Award; Phi Kappa Phi, Phi Eta Sigma, Sigma Tau Delta Honor Societies Student Government.
- Wisconsin State Bar
- Oregon Area School Board # 2013
- Wisconsin Bar Association # 1999
- American Bar Association
- - Current
Websites & Blogs
- Daniel J. Krause's Website Profile
- Krause Donovan Estate Law Partners, LLC Website
- Wisconsin Probate & Estate Planning Blog
- Does All Of A Deceased Person’s Property Have To Go Through Probate?
18 April 2017
- Should You Name a Revocable Living Trust as a Beneficiary of an IRA?
28 March 2017
- What Are Some Options Besides A Full Probate?
14 March 2017
- Does A Retirement Plan Pass Through Probate? Part Two
1 March 2017
- Does A Retirement Plan Pass Through Probate? Part One.
23 February 2017
- What Can An Attorney Do To Expedite The Probate Process?
6 February 2017
- Forget About The Estate Tax. Capital Gains Tax Is The New Tax To Avoid
26 January 2017
- What Are Options That People Consider When Attempting to Protect Their Estate from Nursing Home Poverty?
20 January 2017
- How Are Retirement Plans Handled In An Estate Plan?
13 January 2017
1 Questions Answered
- Q. Is an inheritence of home sales funds, annuity or trust funds taxable?
- A: The answer to this question depends on a few things: 1-the size of the entire estate, including life insurance, IRAs, real estate, etc. If the estate was large enough to have an estate tax, then the tax will have to be paid before you get the property. 2- what year did the decedent die? This is important because the estate tax exemption amounts changed every year in the last few years. If the decedent died in 2011, no federal estate tax is applied to estates under $5mill. 2010 is different and also complicated, and 2009 the relevant number was $3mill. 3- What type of trust, and who funded it and maybe how much trust assets appreciated since their purchase. If the trust was an irrevocable trust funded by gift, there may be no estate tax, but could be capital gains tax. 4- Illinois tax law. I am a Wisconsin attorney and am not up on Illinois estate/inheritance tax law. Currently Wisconsin has no estate tax, but Illinois may be different. If the assets are in Illinois, their law will control. In general, there is no income tax on inheritance, and estate tax only kicks in once an estate is a certain size. In specifics, your particular situation would need to be looked at closer to answer in more detail. -Dan Krause- 608-268-5751
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