A Last Will and Testament is a critical legal document that allows you to accomplish a number of important goals. You can name your beneficiaries and specify the assets you want them to receive, name a guardian for your minor children, and choose the person you want to settle your estate (known as the Executor).In short, a Will helps ensure your wishes are carried out after you pass away. However, in the event you become incapacitated in your lifetime...
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Category Archives: "Estate Planning"
16 Apr
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How Can Estate Planning Attorney Help You During The Novel COVID-19 Pandemic?
The whole world today is suffering from the fearful pandemic' 2019 Novel Coronavirus,' and many have thoughts in their minds that there is no guarantee they will stay alive. Due to the terrifying situation, some people have no food to eat, some have no money to pay the house rents, and some have no hopes left to recover from the infection. In this state, it is the right time to plan the Will and Estate planning online to keep...
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11 Jul
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Choosing the Right Executor
For a wide number of people, the Last Will and Testament is the basis of an estate plan. If you are considering a Will, undoubtedly, you’ll have to make diverse decisions. At this point, you ponder on the estate distribution assets and other provisions of your Will. Besides, there is another equally important decision to make when you prepare your Will, who to appoint as your Executor. A majority of people make the mistake of appointing their loved one...
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14 Jun
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Estate Planning Documents: How Important Are They?
Estate planning documents are the only way to guarantee that your estate is managed according to your desires. This includes the time from when you may lose your mental abilities, to after your demise when your estate transfers to the individuals you have designated as beneficiaries.
Being an experienced Elder Law Attorney in Wisconsin, I’m often asked about how much harm outdated estate planning documents can be. And my answer to all of them is the same: a lot. The...
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31 May
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Why Do People Drag Their Feet When It Comes To Estate Planning?
Most people avoid consulting with an attorney when they should be planning for the future. As such, they tend to postpone the task of making an estate plan. There are numerous reasons why people wait to converse with an estate planning attorney with regards to making an estate plan.
The Reasons
Let’s have a look at a list of reasons why people avoid estate planning:
People Don’t Want To Think About Serious Illness or Death
People don’t prefer to even...
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27 Apr
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Situations in Which Your Assets Might Be At Risk
Not all are conscious of the need to have an estate plan in place. The Estate Plan can include a Will or a trust but goes beyond in making sure your assets are managed if you are disabled. It can decrease the taxes, fees, or court costs your heirs may incur after your death. Failure to plan for the management and dispersement of your estate during disability and after death can be very expensive and cumbersome and this is...
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20 Apr
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Why Is It Necessary to Create an Estate Plan?
Estate Planning is the efficient way to allow for administration of your financial and personal assets you die or if you become mentally or physically incapacitated. In Wisconsin, there are several options to establish a written set of directions to your friends and family showing them how your property is to be distributed after your demise. If you fail to put together at least a simple legal document, the administration of your estate will likely cost thousands and may...
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23 Mar
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Why Do I Need an Attorney for Estate Planning?
Everybody is aware of a will. There are numerous definitions of estate planning. Life and Estate Planning is basically how to give the assets which you have gathered through your life to your next generation in the best and most productive way. This includes looking at all parts of your assets and liabilities and getting ready for what's to come.
Depending on your circumstance, this may include wills, enduring guardianship documents or power of attorney. It might also include living...
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19 Mar
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Choosing a Beneficiary for Your IRA or 401(k) Is Part of Your Estate Plan
Choosing beneficiaries for your retirement accounts is different from selecting beneficiaries for your other assets like life insurance. With retirement benefits, you must know the influence of estate tax and income tax laws in order to choose the suitable beneficiaries. Though, taxes should not be the only determining factor in naming your beneficiaries, as ignoring the influence of taxes could result in making a wrong choice.
Additionally, if you are married, designation of beneficiary might affect the size of required...
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24 Jan
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Periodic Estate Plan Review Strategies
Estate planning is something that encompasses many things. Certain aspects that your estate plan may possibly cover comprise of transferring your assets after you pass away, making plans for end-of-life care or naming of guardians for minor children.
Your estate plan should change right along with your life experiences. Planning annual reviews of your estate documents is the best method to certify that it still meets your goals.
Review Your Beneficiaries
You may want to designate a particular asset(s) in your estate...
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