Under state law in Wisconsin or Illinois, a person's pet is essentially considered personal property of the estate at the time of the owner's death; meaning that probate system views the pet is just another asset to be "distributed" to an heir. Owners may, at some point, have had a conversation with a friend or relative and come to the conclusion that they had identified someone to take in the animal if necessary. It is important to remember, however, several points.Read More
The Tax Cuts and Jobs Act, which became effective at the beginning of this year, permits parents to withdraw from a 529 plan to pay for up to $10,000 in tuition expenses. This change in federal law applies to tuition costs for public, private or parochial schools (but not homeschooling).
This is a potentially huge benefit for parents, becauseRead More