EVERYONE Needs an estate plan. I’ve been an estate planning attorney for over 19 years and I have seen so many horrible cases within families and estates that could have been avoided if only the person that died would have had an estate plan. There are so many reasons you need an estate plan but here are the top Three.
1. So that your loved ones know what you want. Without you placing your wishes of who you want to be in charge at your death or disability and defining who gets what, they will all have to guess and come up with their own opinions. Many of these opinions may differ which could very likely cause arguments among them. The most important reason for an estate plan is so that your loved ones maintain the relationship with each other.
2. So that your hard earned assets go to who you want at the least possible cost. Without a Legal Document in place, you are ensuring that this will not happen.
3. So that your estate is handled by a person you trust and want and not a person that the Courts choose. You have two types of estates: One when you are alive and disabled and the other at your death. I would certainly think that if you are not able to make your own health care decisions or manage your finances, you would want to have a person you trust be able to do so on your behalf. This can not happen with out legal documents in place.
There are many types of legal documents that make up an Estate Plan, Wills, Trusts, Power of Attorneys. There is also much to learn on the topic. I encourage you to attend one of our Free Estate Planning Seminars: Go To: https://khtlawyers.com to see the next one that is coming up and register to attend or call us at (800) 431-9776 to schedule a Free Consultation on your estate planning needs. We have offices in the Baraboo area and Madison area.