It’s never too early to think about estate planning. An accident can change your life without warning. Without basic estate planning documents, such as powers of attorney or a living will, your family will not have the legal authority to make medical or financial decisions for you while you are incapacitated. At any stage of life, estate planning allows you to protect your assets, care for your loved ones, and plan for incapacity.
At our firm, Milwaukee estate planning lawyer, Rollie R. Hanson, provides comprehensive estate planning services to families throughout Southeastern Wisconsin, including West Allis and the Greater Milwaukee area. Here are some examples of how your estate planning needs may change at different stages of life:
- People of all ages should have powers of attorney to give a trusted person the ability to make health care and financial decisions for them if they are disabled. They should also have a living will or health care directive to communicate their wishes concerning end-of-life care if they are in a coma and unable to communicate by themselves
- Parents with minor children need a will or a trust to name a guardian for their children if they both should die. These documents can also direct how and when children will receive their inheritance
- People who have accumulated assets such as a home and vacation property should consider placing those assets in a living trust (also known as a revocable trust) to save their beneficiaries the time and expense of a probate proceeding if they should die
- Parents with a disabled child may wish to create a special needs trust to provide money for their child without making him or her ineligible for government benefits
- The elderly can use Medicaid planning to prevent their life savings from being wiped out by nursing home expenses
today at 414-321-9733 to learn more about how we can assist you in planning for you and your family's future. We are happy to travel to our clients for Estate Planning.