Tag Archives: "Estate Planning Attorney"

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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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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The Pros and Cons Can You Have By Working with a Financial Advisor
What Type of Advantages Can You Have By Working with a Financial Advisor?
Have you ever met a financial advisor that can aid with the management of your money? If not, then you are not alone. According to a recent survey, approximately only 28% of people meet with a financial planner. For most people, meeting with a financial advisor can improve your understanding regarding management of money, futuristic financial planning and avoid making uneducated decisions. Every person from low-wage earners to upper-income salary professionals can take benefit from the counsel and advice provided...

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Why It Is Necessary to Create an Estate Plan
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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Why Do I Need an Attorney for Estate Planning
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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Choosing A Beneficiary For Your IRA or 401(k) Is Part of Your Estate Plan
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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Potential Advantages and Disadvantages of Guardianship Proceedings
Potential Advantages and Disadvantages of Guardianship Proceedings
Guardianship is essential for adults who are unable to make decisions on their own behalf and do not have Powers of Attorney to avoid guardianship, and for some minors. Individuals under guardianship are called “wards”. The court will name a guardian for making decisions on the behalf of a ward and/or managing the finances of the ward. For children, a guardian is generally, but not always, a parent. For adults, a guardian might be a parent, spouse, child, friend...

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Irrevocable Trust in Medicaid Planning
The Importance of Using an Irrevocable Trust in Medicaid Planning
People often wonder about the importance of utilizing an Irrevocable Trust in Medicaid Planning. Undoubtedly, the gifting of assets can be done outright. So, why confuse things with a trust? The answer is that the gift transaction costs are only a portion of what needs to be considered. Many significant advantages that can result from gifting in trust are forfeited by the outright gifting. These advantages show the importance in utilizing Irrevocable Trusts in Medicaid and asset protection planning. The...

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Consult An Attorney If You Want to Modify Your Will
Consult An Attorney If You Want to Modify Your Will
An attorney can help you to make a legally binding Will so you have control over who receives your assets when you pass away. Life happens and in some situations, you may wish to change beneficiaries, distribution amounts, or more. You are able to create as many Wills as you choose, but only the most recent Will prior to your death is valid.  One must make sure they have identified the person whom you want to control the distribution...

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When Do You Need An Estate Planning Attorney?
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...

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