Yes, you really do need a will. Some of us believe myths surrounding estate planning. One popular myth is only the wealthy need a will. It’s too early to create an estate plan is another myth. The truth is everyone needs a will and it’s never too early to begin your estate plan. A Wisconsin estate planning attorney can help you make an estate plan that meets your needs now and that can be adapted as your circumstances change.
A will is a legal document that describes how you want certain assets to be distributed after death. Naming a guardian for minor children is another function of a will. During your lifetime, a will and the rest of your estate plan can be changed to reflect new circumstances such as marriage, birth, new assets, etc. A Wisconsin estate planning attorney can show you how to create and modify an estate plan.
After death, wills are processed through the probate court to ensure they are implemented according to the decedent’s wishes. Most states have a streamlined probate process for small estates. An estate without a will still has to be processed in probate court. Without a will, the court does not have guidance from you to inform them how you wanted your property handled. Therefore, the probate court uses the laws of your state to decide what happens to your assets that don’t have a named beneficiary. (Examples of assets with a named beneficiary are retirement accounts, insurance policies, and certain bank accounts.) The court will even determine who raises your minor children. A will must be created in a way that is legally valid in your state. A Wisconsin will attorney can help you write a will that is acceptable to the court.
Since 1953, McLario Helm Bertling & Spiegel S.C. has assisted families with their estate planning needs. Make an investment in your peace of mind and call today.