In Menasha, Wisconsin, estate planning is the process of deciding what you want done with your property after your death (which is, of course, a very personal decision), and then setting up the legal and financial arrangements to guarantee that your wishes are carried out.

The drafting of a will, which simply states what you wish to be done with your property after death, is normally one of the most important parts of an estate plan. Of course, it's rarely the only one. There are many other things you might want to include, depending on your objectives.

In addition to a well-drafted will, a comprehensive estate plan should contain things like a living will (healthcare directives made in advance, in case you become incapacitated and unable to make or express such decisions), funeral instructions, and instructions relating to organ donations.

For anyone who has children who are still minors, it is very essential to make arrangements for their custody and care, just in case the unthinkable occurs. You should think of a family member or extremely close friend who you know would be willing and able to take care of your children, and designate them as the person who would take custody. Of course, it's important to discuss this matter with that person before you really do it.

What Type of Estate Plan Do I Need in Menasha, Wisconsin?

The answer to this question varies on your individual needs, your priorities, your health, and the size and nature of your estate.

For instance, if you are in your 20's and unmarried, an estate plan likely does not need to be on your priorities, unless you are very ill, or independently wealthy.

If you have a life partner in Menasha, Wisconsin, but aren't married to him or her, estate planning is essential. If you want your partner to have most of the same rights and responsibilities as a spouse, it's normally possible with good estate planning. You should grant your partner power of attorney, so they can make choices for you in case you become incapacitated. Additionally, you should name your partner as a beneficiary in your will, because, unlike a spouse, a life partner will not automatically inherit your property if you die without a will.

Other groups for whom estate planning is very important in Menasha, Wisconsin are people who are elderly and/or have a lot of assets. This may be the time in one's life where estate planning is most important. While it's true that the process of making an estate plan requires a person to deal directly with the reality of their own mortality, it is very important if you value the security that comes with the knowledge that your family will be provided for.

Do I Need a Menasha, Wisconsin Estate Planning Attorney?

Because estate planning in Menasha, Wisconsin can involve some complicated legal and financial issues, it is essential to undertake this task with the guidance of an experienced attorney who specializes in estate planning.