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Estates and Trusts

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Estates and Trusts

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James K. Holsen, CPA, CGMA

Work Life

Areas of Specialization
Jim specializes in taxation, general accounting, and consulting for small businesses and individuals.

Professional Experience
Before joining WKMR in 1987, Jim worked for a local CPA firm for four years.

Professional Associations

AICPA, WICPA

Real Life

Education
BBA, Accounting, University of Wisconsin - Whitewater - 1983

Community Service
Jim has served as the Treasurer of Lac LaBelle Management District (1990 to 2000), Treasurer of Oconomowoc Silver Streak Senior Taxi Service (1997-2003), President and Treasurer of Lutheran Homes of Oconomowoc Charitable Foundation (2002-2007), and as a volunteer Youth Soccer Coach for the Oconomowoc Soccer Association for many years.

Interests
Jim enjoys boating, kayaking, ice skating, tennis, fishing, hiking, camping in Wisconsin’s State Parks, working on home improvement projects and coaching kid’s soccer.

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Lynn M. Braden, CPA

Lynn M. Braden

Work Life

Areas of Specialization
Lynn specializes in tax planning and compliance for closely-held businesses and their owners, trusts and estates, and not-for-profit entities.

Professional Experience
Before joining WKMR in 1998, Lynn spent five years in the tax division of a local accounting firm and six years as controller/office manager for a Waukesha-based business.

Professional Associations
AICPA, WICPA, Brookfield Chamber of Commerce.

Real Life

Education
BBA, Accounting, University of Wisconsin - Whitewater - 1986, Summa Cum Laude

Community Service
Lynn volunteers with community functions in the Pewaukee and Waukesha area and serves on the Board of Directors for the Brookfield Chamber of Commerce.

Interests
Lynn enjoys scrapbooking, reading, knitting and spending time at her cabin in northern Wisconsin.

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The rules and laws governing estates and trusts are complex.

The experienced CPAs at Winter, Kloman, Moter & Repp, S.C. will work as a team with your other advisors to help plan for your estate, minimize estate taxes, and use trusts to your advantage.

Income Tax Planning, Preparation and Filing

Are you the executor of an estate? A trustee of a trust?

You have the fiduciary responsibility to ensure the fair and impartial disposition of income and assets according to the terms of the will and/or trust and the decedent’s wishes. We will help you make sure you’ve met these obligations.

Estates and certain trusts must file income tax returns just as individuals do. Our team can help you choose a fiscal year that will minimize the taxes due on the estate and optimize the tax benefits available. The income may be taxable to either the estate, the trust or the beneficiary, depending on how the income is allocated and whether or not it is distributed. At Winter, Kloman, Moter & Repp, S.C., we can help you:

  • Track the types of income
  • Determine who or what entity will pay taxes
  • Prepare and file the proper tax returns for your estate and/or trust

Estate Planning

Do you have an estate plan? Could your family benefit from a trust?

As the saying goes, you can’t take it with you. But you do want to ensure that, during your lifetime and upon your death, your assets are distributed according to your wishes. Working with your attorney, we will help you accomplish this by developing a well thought-out estate plan.

You may want to consider:

  • Gifting during your lifetime
  • Proper titling of assets
  • Proper beneficiary designations
  • Use of irrevocable trusts to reduce your taxable estate
  • Use of life insurance to pay estate taxes

How your assets are titled and how your beneficiaries are designated will determine who gets what and how it is taxed. We will help advise you on how to properly position your assets in order to reduce taxes and maximize the amount that passes to your heirs.

We want to support your success for the benefit of your loved ones.