The recent Tax Court case Estate of Anne Milner Fields v. Commissioner underscores the risks involved when transferring assets to a family limited partnership or family limited liability company close to death. Approximately a month before Anne Milner Fields died, her great-nephew and agent under her durable power of attorney transferred $17 million of assets […]
In April 2024, the Department of Labor announced a final rule, entitled Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Executives, which aimed to increase the salary that employees must be paid, in addition to performing certain job duties, in order to be exempt from the payment of overtime. That rule […]
The recent election of Donald Trump as president signals potential changes to the U.S. tax code in 2025. Some anticipated adjustments align with Trump’s proposals to extend or expand certain cuts from the Tax Cuts and Jobs Act of 2017, enacted during Trump’s first term, as well as new measures aimed at encouraging economic growth […]
Each year, Super Lawyers surveys the State of Wisconsin’s 15,000 attorneys and judges, seeking the State’s top attorneys. Recently, Super Lawyers published its lists for 2024, which include the Top 10 Attorneys in Wisconsin, Top 50 Attorneys in Wisconsin, Top 25 Attorneys in Milwaukee, Super Lawyers (consisting of the top 5% of attorneys in Wisconsin), and Rising Stars (consisting […]
O’Neil Cannon has been recognized regionally in the 2025 edition of Best Law Firms®, ranked by Best Lawyers, in 18 practice areas, including two newly added categories: Litigation – Health Care, and Litigation – Real Estate. Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law Business Organizations (including LLCs and Partnerships) Commercial Litigation Construction […]
Construction lien waivers are an indispensable part of the traditional construction payment process, allowing parties to waive their right to file a lien in exchange for payment. Among these waivers, conditional lien waivers represent a specific type that becomes effective only once payment has been received or certain conditions have been met. However, depending on […]
The IRS has released inflation adjustments for the 2025 tax year, bringing changes to tax brackets, deductions, and credits that may affect taxpayers across income levels. Here’s a quick overview of the updates: Income Tax Brackets Tax brackets will shift higher to accommodate inflation, helping prevent “bracket creep.” For example, the 37% top rate now […]
Recently, attorneys Steve Slawinski and John Gehringer were named in the Wisconsin Law Journal’s Power List for Real Estate and Construction Law Attorneys. See their recognition below.
October 21-27, 2024, is National Estate Planning Awareness Week—a timely reminder to think about your estate plan. If you haven’t yet created an estate plan, we have a handy guide to help you understand the basics. You can check it out here: Estate Planning Guide. If you already have an estate plan in place, now […]
