- Add up your assets. Take into account your retirement accounts, life insurance, potential inheritance, savings, property ownership, etc.
- Consider trusts. Trusts are simply vehicles for protecting your assets from creditors – yours or your heirs – and from potential future ex-spouses. They are also a great mechanism for maintaining your privacy and allowing your assets to pass to your heirs without the expense and hassle of probate, which can tie up assets for a year or more. And they also help you and your heirs avoid estate taxes.
- Think about whom you trust to act as your agent(s). You will need to appoint a person or persons to act as your agent through a power of attorney in case you are unable to make those decisions yourself, in the case you become incapacitated or have a terminal illness. This applies for health care decisions as well as financial oversight
- Realize what a will can and cannot do for you. A will is the cornerstone of your estate plan, giving you the legal power to pass along assets and property to heirs as well as name a guardian for minor children and appoint the people you need to carry out your wishes after you are gone – i.e., who will administer your estate and who will safeguard your assets for minor children.
One of the main goals of our law practice is to help families like yours plan for the safe, successful transfer of wealth to the next generation. Call our office today to schedule a time for us to sit down and talk about a Life & Legacy Planning Session, where we can identify the best strategies for you and your family to ensure your legacy of love and financial security.
Davidson Law Office and The Estate Planning Group is a law firm based in the Heart of the Fox Valley, with offices in Kaukauna, Appleton, and office space in Green Bay. The attorneys at Davidson Law Office and The Estate Planning Group are focused on protecting and assisting individuals and business owners with all of their estate planning, probate, business succession planning, and Medicaid needs.
Davidson Law Office and The Estate Planning Group have clients in Outagamie County, Calumet County, Brown County, Waupaca County, Winnebago County, Fond du Lac County, Manitowoc County, Kewaunee County, and Oconto County; and serves the following municipalities: Kaukauna, Kimberly, Little Chute, Darboy, Combined Locks, Appleton, Green Bay, De Pere, Ashwaubenon, Wrightstown, Greenleaf, Fond du Lac, Oshkosh, Neenah, Menasha, Greenville, Harrison, Shawano, Black Creek, Forest Junction, Brillion, Hilbert, Chilton, Sherwood, Shiocton, Hortonvillle, New London, Winneconne, Maribel, Howard, Pulaski, Bellevue, Algoma, Kewaunee, Two Rivers, Seymour, Fremont, Omro, Berlin, Clintonville, West Bend, Manitowoc, and Sturgeon Bay.Taking the Complexity Out of Estate Planning