How Estate Planning Protects Your Future
It’s not easy to think about, but there will come a time when you may not be around to take care of your loved ones. Knowing what you want your family to do with your assets will prevent your relatives from having to make tough decisions during an emotional time. That’s why the Law Offices of Daniel S. Draper are here to help you with estate planning.
What Does Estate Planning Involve?
Estate planning starts by taking stock of everything you own, including homes, properties, vehicles and banking or investment accounts, and deciding how you will pass these things on to your heirs or beneficiaries after your death. There are different tools to handle this process, like wills, trusts and living trusts.
Wills and Trusts
With a will, you create a legally binding document that leaves your possessions to specific people. You can divide assets however you would like. You can also create trusts that will distribute your assets or money in a controlled way. A trust is a great option for leaving money to younger adults because you can limit how much money they get at once. A trust may also avoid the costs of probate proceedings.
Living Trusts and Power of Attorneys
A living trust or a power of attorney can be used to protect your interests if you become unable to make your own decisions or become incapacitated. A neutral third party will make sure your money and possessions are taken care of.
Who Needs an Estate Plan?
Everyone needs a plan for what’s next. Some people make the mistake of thinking only wealthy people need to work on estate planning. However, everyone needs to consider what would happen if they could no longer make their own decisions. Who would take care of your affairs? How would they access your accounts? Estate planning covers this.
Having your affairs in order is even more important if you have children or others who depend on you. If you’re gone, setting up the right plan can make sure that you provide the same level of financial care that you would have if you were around. You can also make sure they aren’t burdened with sorting out your estate.
To start the estate planning process, contact the Law Offices of Daniel S. Draper to create a plan you feel comfortable with.
Call Us For A Consultation
View Our Office At
500 Commercial Court,
Lake Geneva, WI 53147
Walworth, Kenosha, and Racine Counties Including: Elkhorn, Delavan, Williams Bay, Fontana, Burlington, Walworth, Janesville, Milwaukee, Kenosha, Racine, Lake Geneva, Delavan, Burlington, Waukesha
Walworth County Bar Association
State Bar of Wisconsin Member
National Organization or Social Security Claimants Representatives
Wisconsin Association of Worker's Compensation Attorneys