In New Berlin, Wisconsin, estate planning is the process of determining 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 ensure 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 usually 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 include 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 important to make arrangements for their custody and care, just in case the unthinkable happens. You should think of a family member or very 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 actually do it.

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

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

If you are young and unmarried, estate planning probably doesn't need to be on your radar, unless you are very ill, independently wealthy, or perhaps if you work in a very dangerous job, such as the military.

There is one group of unmarried people for whom estate planning in New Berlin, Wisconsin is absolutely crucial: adults who are not married, but have a life partner who they'd like to provide for in the event of death. There are many rights that automatically attach with marriage, such as the right to inherit if a spouse dies without a will, the right to make medical decisions for the other spouse if they become incapacitated, etc. If you and your partner are, for whatever reason, unable or unwilling to get married, you will have to take several steps to secure these rights, such as granting power of attorney, and writing them into your will.

If you are elderly, and have a large amount of assets in New Berlin, Wisconsin, estate planning may be more important at this stage of your life than any other. While estate planning deals with some morbid and unpleasant subjects (requiring us to confront the reality of our own mortality), it is crucial if you wish to live your life secure in the knowledge that your loved ones will be provided for to the extent that your assets allow.

Do I Need a New Berlin, Wisconsin Estate Planning Attorney?

Estate planning in New Berlin, Wisconsin is not always complicated, but it certainly can be. In moderately-sized to large estates, with a significant number of potential beneficiaries, it is crucial to have the assistance of an estate planning professional.

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