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For help with estate planning, establishing a will or trust in the Racine area, call the attorneys at Grieve Civil Law at 262-622-1990.
Our estate planning lawyers are here to assist in creating wills, trusts, and other estate planning documents. We understand that every family’s situation is unique and deserves a plan tailored to their needs. From creation to administration of the estate, the lawyers at Grieve Civil Law are here to help.
Grieve Civil Law offers comprehensive estate planning services, including wills, trusts, powers of attorney, and more. Estate planning is personal, and our attorneys ensure you get the estate plan you need for your unique circumstances.
A will is one of the most popular estate planning documents. It outlines how assets should be distributed after a person’s death. It allows you to name beneficiaries and choose an executor to carry out your wishes. It also can be used to appoint a guardian for minor children.
Unlike a trust, a will does not avoid probate in Wisconsin. It only takes effect after death, and so many people pair it with other estate planning tools, like powers of attorney, to cover other situations where a person is incapacitated.
A trust holds and manages assets according to your instructions. It’s a flexible legal tool that helps maintain privacy, avoids probate, and allows for more control over how beneficiaries receive distributions.
Trusts are very well equipped to handle complicated assets or very specific wishes regarding distributions. Depending on the kind of trust, it can reduce tax exposure, provide for disabled or minor dependents, plan for incapacity, and more.
Powers of attorney appoint a trusted person or persons to act on your behalf when you are unable to make decisions for yourself.
A financial power of attorney authorizes someone to manage financial or legal affairs under certain circumstances. When it’s enacted, that trusted person can pay bills, manage bank accounts, file taxes, and complete other critical tasks on your behalf.
A medical power of attorney, also called a healthcare power of attorney, allows someone to make decisions about treatments and other healthcare related issues when you are incapacitated. It is often paired with other advance directives, like a do not resuscitate order or a living will, to cover a variety of specific medical scenarios and wishes.
Probate administration is the legal process where a deceased person’s assets are distributed under court supervision. It entails notifying creditors, filing necessary tax paperwork, and transferring assets to heirs. It can also include finding heirs and locating and valuing the assets. Even a simple, non-contested estate can necessitate quite a bit of time and paperwork. Grieve Civil Law attorneys can help executors ensure they are completing all the necessary steps.
Hiring an estate planning attorney ensures that your documents are legally sound and specific to your goals and needs. An experienced attorney can explain all of your options and help guide you in the right direction. They can anticipate issues you may not anticipate and help ensure you get a comprehensive plan that works when your family needs it most.
Estate planning gives you, and not the state, control over your assets, your healthcare, and your family’s future. Without proper estate planning, important decisions are left to the state and to court processes that are time consuming and stressful for loved ones. Putting a plan in place ensures your wishes are known so they can be honored.
Estate planning is not just about what happens to your belongings when you pass. An estate plan can also include ensuring trusted individuals have the ability to make healthcare or financial decisions on your behalf if you are ever unable to do so yourself. Otherwise, the person who makes those decisions is ultimately up to the state, and may include a lengthy court process. In an emergency, there’s no time for that stress and bureaucracy.
Estate planning becomes essential in many situations for a variety of people. Estate planning prepares for the unexpected, and that can happen any time. Elderly people certainly need to have a plan in place, as the odds of them needing the support provided by powers of attorney are higher. It’s not just the elderly that needs an estate plan though. Realistically, any adult needs a basic estate plan to account for unplanned emergencies.
Families with children need estate planning to name a guardian for their children and a trusted individual to manage their inheritance until they come of age. If you have a disabled dependent, special considerations need to be made to ensure their long-term care.
Blended families, unmarried partners, and members of the LGBTQ+ community especially need estate planning, since many laws don’t account for non-traditional family structures. Couples without children face a similar issue. Many people would prefer to name their own Power of Attorney or heir instead of relying on what the state determines to be their next of kin.
Business owners often have complicated estates that are difficult for their heirs to deal with if it’s not planned in advance.
People often assume their estate is simple and “common sense” will be enough to figure out what should happen. That isn’t the case, though. Even simple estates have to go through the probate process, which can be costly, stressful, and time consuming. Having the proper documentation ensures things go smoothly when it matters most.
DIY options for estate planning are tempting, but people often make mistakes that don’t comply with state law. Even small mistakes can lead to disagreements or your wishes not being followed. An attorney ensures your estate plan complies with all local and state laws and that no detail is missed.
Some people put off estate planning until it’s too late. Illnesses, accidents, and unexpected events can happen at any age. It’s important to already have your estate plan in place when they do so your wishes are known and the burden doesn’t fall to your loved ones to figure out what to do.
