Setting up an estate plan is an important thing to do and can help protect your interests and family when life happens. Learn about the benefits of estate planning in Wisconsin.
Wisconsin Estate Planning Basics
Life is unpredictable.
We don’t know when we’ll die, if we’ll become incapacitated at some point,
or when an emergency will occur. Proper estate planning can protect your
family, assets, and interests.
With an estate plan, you can choose where your wealth goes after you die.
You can appoint a person to make decisions on your behalf in the event
that you are incapacitated. You can choose how digital accounts and other
online assets will be handled after death. You can choose how you want to
transfer your wealth to charitable organizations, either while you live or after
If you don’t set up a proper plan, the state will decide how to distribute your
assets after you die. This process is called ‘probate’ and it can be a time-
consuming and overly expensive process. It can actually take a long time
before assets actually reach your surviving family. There may also be
certain inheritance taxes that will need to be paid. Beyond this, family
members will not be able to make decisions on your behalf should you be
incapacitated or absent.
In the end, setting up an estate plan is the wise thing to do. You don’t want
to wait until it’s too late, and a good plan will make sure your loved ones are
taken care of and financially secure.
There are a number of tools available for your estate planning needs
including: wills, revocable trusts, and powers of attorney. An experienced
attorney can help you decide what is needed for your individual situation.
Call J Peterman Legal Group today for a free consultation: (262) 790-5719