How Wills And Trusts Can Protect Your Wealth And Future

Wills and trusts are important legal tools that can make life much easier for you as you age. When written correctly, they can also make the transition easier for your heirs after you have passed on.

At Brummund Law Office, we can help you take advantage of these and other estate planning tools. Our lawyer will first gain a thorough understanding of your family situation, financial picture and overarching objectives. He will explain all of your options and craft an estate plan that will be of the most benefit to your family.

Why Do I Need A Will?

A will lays out your final wishes regarding important issues such as how to distribute the property and assets you have worked so hard to acquire. It acts as a road map for your loved ones in following your wishes. It also is a place for you to nominate a guardian for your minor children.

If you don't take advantage of this key estate planning document, your heirs could be left to guess at how to handle your affairs. This uncertainty often leads to costly and contentious disputes.

What About A Living Will?

A living will — also called an advance directive or health care power of attorney — allows you to make your end-of-life decisions clear to your family and your doctors. It details all of your choices, such as whether you want to be kept on life support or what kinds of treatment you do and don't want. It also gives you the ability to designate a trusted advocate who will act on your behalf in the event that you become incapacitated.

What Does A Trust Do For Me?

Many people with complex or high-value estates can benefit from a trust. There are many types of trusts, however. Depending on the type you pursue, a trust can:

  • Keep your estate out of the costly and time-consuming probate process
  • Safeguard assets for minors
  • Allow you to attach certain conditions to your distribution of property
  • Give you greater flexibility in preparing for contingencies
  • Reduce the tax burden on your estate

Our attorney can help you create the right type of trust for your situation and goals.

Legal alert: Wisconsin recently adopted a new trust code. If you already have a trust, this new law may affect how it will be administered. Our firm can help you update your trust so that you and your heirs receive the most benefit in light of the latest legal developments.

Let Us Make Things Easier For You And Your Family

You can count on us to create a customized solution that fits all your needs. To learn more, call 414-988-3382 or contact our Milwaukee office online. Your initial consultation is free.

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