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The concept of estate planning is simple enough: It involves drafting a legally binding document that contains any last wishes so your loved ones are taken care of after you pass. The actual proceedings, on the other hand, can be fairly complicated. If you recently lost a loved one or are in the process of updating your own existing documents, an attorney from Scott & Heenan LLC in Platteville, WI, will guide you through the proceedings and answer any questions, including the following.

Estate Planning FAQs

What Is Probate?

Probate refers to the legal process of settling someone’s estate. This includes paying back any eligible lenders and distributing the deceased’s assets according to the estate planning documents. All assets that were not transferred to a trust prior to death must go through probate before the beneficiaries can obtain ownership of them.

How Long Does Probate Take?

estate planningThere are a lot of factors that can affect how long it takes to complete the probate process. In general, it takes between six and nine months to settle an estate, but when disputes arise or the will contains vague language, it can take much longer.

Who Should Have a Will?

Estate planning is not just for individuals who have amassed significant assets over the course of their lifetime. At the end of the day, everyone should have one. In your will, you can designate guardianship for any minor children, state any requests regarding funeral or burial services, and bequeath personal property to loved ones.

Can You Update Your Will?

It is never too early to create a will because you can update it as needed. People should reassess their will after undergoing a major life transition like marriage or divorce and after acquiring a significant asset, like a home.

If you have additional questions about estate planning or probate, turn to a seasoned lawyer at Scott & Heenan LLC in Platteville, WI. They have been helping clients throughout Grant County resolve all kinds of legal issues since 1999. Visit the firm online to learn more about all their areas of expertise, and call (608) 348-9506 to schedule an initial consultation today. 

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