It is never too early to start estate planning. Even if you have not accumulated a significant amount of assets, there are still some major decisions you need to make when writing a will. To discuss strategies that will ensure your family’s financial security, turn to a will probate attorney at Osborne, Tripp & Schmidt, SC, in Sparta, WI. Below, their experienced legal team shares a few factors you should consider before creating a will.

3 Estate Planning Factors to Consider From a Will Probate Attorney

1. Guardianship

If you have minor children—and something should happen to both you and their other parent—you can prevent the state from determining who cares for them by establishing guardianship in your will. Talk to any potential guardians before adding the provision to your will to ensure they are comfortable with the arrangement. You should also consider naming a backup guardian in case something should happen to your first choice.   

2. Beneficiaries

As you acquire assets, decide who you would like to give them to when you pass. If you have children, the choice may be obvious, but you should consider how they will manage those assets after you are gone. For example, if you have a vacation home, could your children handle the annual property taxes? In such a scenario, it might be better to leave the home to a sibling or relative who will allow your children to visit as often as they’d like.

3. Executor

The court will distribute your assets during the probate process, but it is up to the executor to ensure those assets go to the appropriate beneficiaries. Your executor is also responsible for locating the beneficiaries and notifying various agencies and organizations of your passing. Choose an executor you trust so your last wishes will be met.

Drafting a will is the first step toward protecting your family in the event of your untimely passing. Turn to Osborne, Tripp & Schmidt, SC, to get started today. To learn more about the firm’s additional areas of practice, like criminal defense and child custody, visit their website, and call (608) 269-2400 to make an appointment with a will probate attorney.