From young adults to senior citizens, estate planning benefits all individuals. No matter where you are in your life, drafting wills and estates will protect assets and loved ones in a worst-case scenario. If you haven’t done so yet, here is why you should get started.
Wills & Estates Planning for Each Age Group
1. Young Adults
Whether you are an adult working as an employee or pursuing a career as an entrepreneur or small business owner, it’s a good time to buy insurance and make a will. Life, health, and disability insurance policy rates are low for young people. Writing a will lets you designate who owns and controls your assets, including copyrights to music, films, or art you created, or patents for apps you designed.
2. Middle Age
This life stage might include a spouse, life partner, children, or a thriving career. Drafting a will now allows you to name a guardian for your minor children, and by creating trusts, you can protect and manage assets for them or other loved ones. Wisconsin law even allows pet trusts. A durable power of attorney gives authority to someone you trust, so business and personal matters continue to function if you become incapacitated. Experienced wills and estates attorneys develop plans for all types of family and business configurations.
3. Senior Citizens
This stage of life includes managing retirement funds, executing business sale or succession plans, providing inheritances for children and grandchildren, or establishing a special needs trust for an ailing spouse. Experienced wills and estate lawyers address these matters, update wills, and prepare advance directives, which allow individuals to state what medical treatment they do or do not want if they become incapacitated. Such documents relieve loved ones of making those difficult decisions.
Now is always the right time to consult a wills and estates attorney. Luke A. Weiland, Attorney at Law, in Wisconsin Rapids, WI, has a 12-year record of helping individuals achieve their personal, family, and business goals through sound estate planning. Get peace of mind with his wise legal counsel and effective representation focused on protecting your assets and interests. Call (715) 422-6808 or visit the website to schedule an appointment with this dedicated lawyer.