21 Nov Off
There is a good chance that you will require a proficient estate planning attorney at some point in your life. The problem could be recognizing when you have the need for an estate planning attorney because, like most people, you may not be familiar with the different types of legal matters we handle. Though it would be impossible to list every scenario in which you might need us, it is beneficial for you to read some common scenarios. Let’s glance through a few:
Planning Your Estate
This one is obvious. A proficient estate planning attorney can certainly help you with your own estate planning.
What may not be so obvious is when you need to start estate planning. Like many people, you too could be under the impression that you need to amass a sizeable fortune, get married or be a parent before you need an estate plan. This is simply not the case. Everyone over the age of 18 should have at least a basic estate plan in place. As you and your estate grow, you will expand on that basic plan; however, it is never too early to get started on some basic estate planning. Want to protect your beneficiaries inheritance from a divorce, lawsuit or any outside party or if your spouse remarries from his/her new spouse? We can show you how to make sure only your intended beneficiaries have access to assets. we will discuss the many ways your loved ones can avoid the expense and delay of probate at your passing.
Probating an Estate
There could be a time when a family member or a loved one will appoint you as the Executor or Personal Representative of their estate. As the Executor or Personal Representative, you will be responsible for overseeing the probate process of the decedent’s estate and disbursing of assets to designated beneficiaries. Depending on the size of the estate, probating the estate can be a time consuming or a complex job. This is where my role comes in; Executors and Personal Representatives retain our services to assist them during the probate process.
Contesting a Will
If a family member or a loved one has recently died and you have doubts regarding the validity of the Last Will submitted for probate, then you could be entitled to contest the Will. To be successful with this contest, you need to prove one of the selected legal grounds on which the Will could be declared invalid. we can help you with this process.
Ever thought what would happen to you, your children, family, and your assets if you suddenly become incapacitated? Who would make the medical decisions for you? Who would take over as a guardian of your children? Who would handle your financial affairs? We can set up an estate plan that works with your goals and answer all these questions, instead of leaving them to be answered in a court of law.
You may not realize it right now, but there is a good chance that you will need long term care planning at some point during your life. If you fail to plan for that possibility, all your hard-earned assets could be at risk. By including a long term care plan, you reduce the risk of losing your nest egg and becoming impoverished and increase your eligibility for available State, Federal and/or VA benefits if or when the time comes.
If you are facing the difficult decision of the incapacity of your parent, grandparent or any loved one, it could perhaps be the time for pursuing guardianship. The guardianship process can be complicated and emotionally draining. We, as the only estate planning attorney in Wisconsin affiliated with a geriatric care management firm, can greatly increase your odds of getting through the process efficiently and successfully.
Special Needs Planning
If you are a parent or a grandparent of a child with special needs, you may want to establish a Special Needs Trust. This type of Trust can help protect the beneficiary’s assets you plan to leave for him/her. Without a Special Needs Trust in place, a gift from you or other well-meaning family members, could endanger the beneficiary’s eligibility for the much needed State or Federal assistance programs.
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