Will your family be taken care of?
Do you have a family that you love and support in WI? Will the ones you care about the most be taken care of in the event that something should happen to you? These are never things that anyone wants to think about, but it is a subject we must all come to terms with. If you have not done so already, it is recommended that you hire an expert in estate planning in Rhinelander WI. This will not only give you peace of mind, but ensure that your family will have one less burden to carry in the event of your death or other catastrophe. In the event that you are unable to do so, these services can also ensure that you have control over your health care and finances
Many people think that trusts are reserved only for the wealthy. This is not the case as they can provide valuable services to anyone no matter their income. Any firm that provides estate planning in Rhinelander WI should be able to draft a revocable trust for you. What is a revocable trust exactly? In the event that you are mentally incapacitated it will dictate distribution instructions for your finances and healthcare, to be settled outside the courtroom. This is especially important for young families that have life insurance policies or retirement accounts with minor beneficiaries. Many people do not know that if you have listed a minor as the beneficiary, in the event of their death all of that money will go into the court system to be released upon the minor’s 18th or 21st birthday depending on state laws. A revocable trust will allow you to leave this asset to a caretaker that you choose for the health and wellbeing of the minor.
A will dictates distribution of your financial accounts, properties and assets after your passing. The last thing that you want for your grieving family to deal with is the inside of the courtroom. Many times emotions are high, and sometimes strong family bonds can be broken. Don’t place this burden on your family. Make a will so that you have control of where all of your assets go and to whom. A living will is created for the event that you are not mentally capable to make decisions on your own. If it any point you are hospitalized and cannot make decisions for yourself, you can still have control. Dictate health care decisions, handling of your finances, and even life support decisions. Don’t leave your life in someone else’s hands, take control. Estate planning is an important part of life, hire a company or lawyer that you trust and be involved in all document creation.
Daubert Law Firm provides legal services for all of your estate planning needs.