Wisconsin Power of Attorney, Wills and Trusts
Menomonee Falls Lawyer Helps Protect Your Family with Comprehensive Estate Planning Services
When you are gone, who will protect your family? You still can. Documents like wills, trusts, and power of attorney are extremely useful legal tools. They shield your spouse, children and grandchildren from a drawn-out legal process by simplifying, streamlining, or eliminating the probate and guardianship process.
Wisconsin law firm McLario, Helm, Bertling, & Spiegel, S.C. has been assisting families with comprehensive estate planning services for decades. We have extensive experience with the preparation and execution of wills and trusts and the creation of power of attorney directives. Our law firm has grown and expanded over the last 60 years. Therefore, so has our ability to provide effective estate planning, administration, and litigation services. If you need advice concerning Wisconsin power of attorney directives, contact us today. If you are interested in creating a will or living revocable trust, contact our office in Menomonee Falls. We provide free consultations regarding estate planning solutions for individuals throughout the Wisconsin and Milwaukee area. Our Wisconsin estate planning lawyersare happy to sit down with you and create an estate plan which will secure your family’s financial future.
The death of a loved one is tough enough without having to deal with extended legal proceedings. Creating a properly drafted Wisconsin will can eliminate many of the common problems and delays. Our knowledgeable estate planning attorneys can assist with the preparation of a clear and concise last will and testament. As a result, will effectively express your wishes for property and asset allocation, and bequests to individuals inside and outside of your family. Our Wisconsin estate planning attorneys bring extensive business and financial knowledge to the table when we work with you to create a last will and testament, leaving no issues uncovered during discussions. This results in the creation of an ironclad and enduring legal document which will serve as an effective guide for your loved ones after your passing.
A trust, most often a revocable living trust, is an estate planning document commonly used as a substitute for a last will and testament. Many of our clients prefer to transfer assets through a Wisconsin trust rather than a will. This allows them to bypass probate, control or eliminate tax liability, protect the privacy of beneficiaries, and protect their heirs from divorce, lawsuits, creditors, and other concerns. Trust arrangements offer many advantages over wills for the transfer of wealth. Creating a trust can provide asset protection for beneficiaries and reduce estate tax liability. Trusts can also guard against unforeseen changes which would affect asset allocation, including divorce and legal separation. For many of our clients, a trust is the principal document in their estate plan. A trust can be revocable or irrevocable, living or testamentary, and tax motivated or tax neutral.
Wisconsin Living Revocable Trust
One of the more preferred forms of trust is a living revocable trust. A living revocable trust is a flexible legal document which can be changed at any time, just like a will. The living trust names a trustee to be responsible for managing the property in the event of death or incapacitation. Furthermore, minimizes expenses and delays related to estate settlement. Unlike a will, a revocable living trust transfers assets immediately upon death without interference from the court and remains private from the public. Common assets included in the living trust are: real estate, business interests, stocks, bonds, precious metals, gems, antiques, artwork, and patents.
Benefits of a living trust include:
- Disburse assets upon death more quickly than a will
- Avoid probate and probate expenses
- Maintain financial estate privacy
- Plan for incapacitation and avoid guardianship
- Appoint family members as trustees
Probate can be an extremely lengthy process depending on the overall size and complexity of the estate itself, keeping estate assets tied up for months! In addition probate court costs and fees can quickly add up to a full blown nightmare. Revocable trusts operate without court supervision, which means property listed in your living trust doesn’t go through probate after your death. Your beneficiaries then receive assets more quickly and with less hassle. In addition, unlike wills, revocable trusts do not become publically accessible documents, and all estate matters remain private.
Avoid Nursing Home Abuse by Establishing a Trust First
Most nursing homes and assisted living centers are respectable, responsible businesses providing great care for their patients. Unfortunately, there are some employees who do not deserve the trust placed in the industry as a whole. These unscrupulous individuals may take financial advantage of patients, defrauding them of hundreds or thousands of dollars.
Trusts are powerful tools for preventing possible financial abuse of the elderly.
With a legal document in place, it becomes much more difficult for a renegade employee to wreak havoc on senior citizens’ finances. We trust caregivers to be honest and accountable just like we trust other drivers to be careful and considerate. Establishing a legal trust can be seen as an insurance policy. While you hope you are never in a car accident, the financial protection offered is worth the peace of mind. Furthermore, McLario, Helm, Bertling, & Spiegel, S.C. has the experience estate planning lawyers Milwaukee needs to set up protective financial documents.
Wisconsin Power of Attorney: Financial and Health Directives
Wisconsin power of attorney directives allow you to designate a trusted person to handle your affairs and make decisions on your behalf. Especially in the event you are unable to make your own decisions. These directives may provide broad extensive control. Or they may be limited to a specific situation, like a real estate transaction. As part of a comprehensive estate plan, it is customary to create both a financial power of attorney and a health care power of attorney document. This document outlines your wishes regarding life-sustaining medical procedures and designates a person to make health care decisions on your behalf if you are incapacitated.
Our Wisconsin estate planning attorneys can provide valuable assistance with advanced health care directives and power of attorney documents. As part of our services, we will thoroughly explain all the factors you need to consider when planning directives. We will help you design a legal document which accurately and effectively represents your wishes. If you are interested in learning more about wills, living trusts, power of attorney, and other estate planning services, our knowledgeable attorneys can discuss your needs. Together, we can create an estate plan which plainly communicates your wishes. And, serves as a useful guide for your family in the future.
Power of Attorney, Injuries and the Elderly
As people age, their bodies become less resilient. What used to be a trivial misstep can turn into a slip and fall causing critical injuries. Even minor car accidents can cause incapacitation. Making sure the right person is in charge of legal, medical and financial decisions usually requires having power of attorney.In conclusion, if you do not have legal power of attorney over a loved one, you run the risk of having no say in how they are treated. It is always best to have clear, binding legal documents in place before senior citizens are injured.
Finally, when you come to McLario, Helm, Bertling, & Spiegel, S.C. for a free estate planning consultation, be sure to discuss establishing power of attorney, as well.