Some people think they don’t need an estate plan because they do not have millions in their estate. This is far from the truth. There are many other reasons to make a plan. If you have minor children, you will want to name the person or persons who will serve as their guardian(s) if something happens to you. Does your child have special needs? You can plan so that they can inherit without losing government health insurance and other benefits. Are you part of a blended family? Without the proper estate planning, you may be surprised how Wisconsin state law divides your assets. Do you own a small business? You can avoid having to probate your business assets with the proper tools.
Estate planning is also more than creating a trust or a will.
A comprehensive estate plan includes power of attorney documents that set forth your wishes for your medical care and financial interests if you become incapacitated and names an agent who will ensure your wishes are followed. These documents are some of the most important parts of your estate plan. In Wisconsin, no person – not even your spouse – has the legal right to be involved in your medical decisions or even know about your medical needs if you are incapacitated. You can give someone those rights by naming as your agent in your health care power of attorney.
It is the same for your adult children. Once your child turns 18, you need to be named as their agent in order to be involved in their care. Similarly, no person has the legal right to assist with your financial matters. The documents you need to include in your estate plan will depend on your particular goals and assets. Along with minimizing taxes and fees, effective estate planning can provide guidance, peace of mind, and lessen burdens for your loved ones.
Estate Planning @Rebecca Mason Law
Tax Season is a great time to create an Estate Plan Blog
A frequent question from our clients (likely because our community is located on the beautiful shores of Lake Michigan) is whether you can have your ashes scattered over the lake. The answer? You can! subject to some restrictions.
That said, there are many meaningful ways for your loved ones to honor you. And at the same time provide some closure. Even many we have never heard of. This article explores some of the more unconventional options.
23 Remarkable Things to Do With Ashes to Honor Your Loved One
Another idea not included in this article is a wind chime: https://www.mainelyurns.com/amazing-grace-memorial-wind-chi…
Question? What has your family done? Comment below to share your families ideas that others may benefit from!
The attorneys at Rebecca Mason Law specialize in Estate Planning. In-addition we ensure your rights are respected even if you can’t yourself.
Today marks the first day of the seventh year for Rebecca Mason Law. We want to take this milestone opportunity to say thank you. We are honored to be able to provide top-quality legal representation for southeastern Wisconsin and all of our clients.
My team and I get to work through some pretty tough times side by side with our clients. As we draft your estate plans, administer probates for loved ones, families have recently lost, and help you take care of your loved ones through guardianships.
Our office has some of the most amazing clients in the world who make this the best job ever. And for that, we just want to say Thank you!
I Met with a client today and we discussed the impending death of her mom. I was reminded of how fleeting life can be. And how amazing it is that I have the opportunity to walk this difficult walk with my clients. Thank you for sharing your stories about your loved ones. Thank you for sharing your tears. And being OK with being vulnerable. Thank you for sharing a little bit of yourselves with me. Because of you, this is the best job ever.
– Rebecca Mason 8/25/2017