For many, there is a belief that estate planning is only for those that have accrued a lot in assets over their lifetime, but this is a misconception. Every person that has contributed to a 401(k), owns a home, or has a savings account, needs to plan for the future.
Some of the basics that go into estate planning, include hiring a trusted attorney who can help guide you through the creation of the estate planning documents. The documents that should be included in your plan are a will, power of attorney, and a healthcare proxy. Other information that you may want documented would include anything you want your loved ones to be aware of should you pass away.
Although it is not required by law that all estate plans be created in the presence of an attorney, having someone with the knowledge of how gifts, heirs, power of attorney, and taxes will be taken care of, without having a stake in the estate, will ensure there is no bias or influence in your decision making.
Taking control of your finances and your future will help safeguard all that you worked for in life. In the case of an untimely passing, having an estate plan can help ease the burden placed upon family and loved ones.
At Southworth and Stamman, LLC, we can help you take control of your estate planning matters by establishing strong documents that stand up to scrutiny. Allow our Wisconsin Dells estate planning lawyers to help you safeguard your finances, ensure you have a say in future medical decisions and enhance your life legacy.