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Think of it as a Kickstart to Your Legal Goals – 3 Smart Things to do with Your Refund

tax refundWhen it comes to the annual tax refund, many will spend the money on clothes, food, or forms of entertainment. While this may initially seem like the more attractive option, you might want to consider using your tax refund for something that will benefit you in the long run. Estate planning attorneys in Wisconsin suggest that you use your tax refund to kickstart your estate planning legal goals. Here are three legal documents you should consider:

Will or Trust

Creating a will is a pretty straightforward process and fairly easy to do but determining if a will or a trust is right for you might not be as simple. Most people don’t think they need a trust but they often don’t understand how probate really works and the true cost of a will vs. a trust.   In addition, making decisions about who to choose as the for your minor children as well as an executor for your will might take time and require conversations to ensure it’s the right fit.  Estate Planning Attorneys in Milwaukee can help you through the entire process and make sure all of the correct paperwork is filled out while giving you thoughtful insights on how to best approach your particular situation.  

If you do have a will or trust most people create it and forget it and then decades later are surprised to know what the documents say.  Don’t wait to dust off your documents and ensure they still reflect your wishes.  It’s recommended to review your documents with a trusted attorney at least every five years.

Health Care Power of Attorney (POA)

Towards the end of your life or anytime you are incapacitated, you may find yourself unable to clearly state your needs and desires regarding medical care. To protect yourself against decisions that go against your wishes, you’ll want to consider creating a healthcare power of attorney. This legal document will enable a designated individual to speak on your behalf about medical care. This healthcare proxy will be able to talk to your doctors and nurses to make sure you’re taken care of. You can choose anyone to be a healthcare proxy, even your Menomonee estate planning attorney. This document is important for anyone over the age of eighteen.

Financial POA

Similar to a health POA, a financial POA is a legal document that will allow a proxy to make decisions on your behalf if you are unable to do so. This proxy will be able to manage your personal finances and property to make sure you’re protected. Three situations where this can be helpful is if you won’t have access to your finances and property for an extended amount of time (perhaps you’re traveling abroad), you are planning to purchase property and you won’t be available to sign the documents, or you are away at college and want your parents to still be able to access your bank account. Ask an estate planning lawyer in Wisconsin how you can do this. 

Hire an Estate Planning Attorney

If you have questions about any aspect of your estate planning needs, don’t hesitate to contact a Wisconsin wills and trust attorney at McLario Helm Bertling & Spiegel. We will stand by your side and be your law firm for life. 

Schedule Free Consultation

When you contact our Milwaukee area law firm, your case will be treated like a unique request for assistance. You are a real person with real needs and will be treated like one by our firm. Nobody has time to be passed around an office from paralegal to secretary and back.
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