Milwaukee Estate Planning And OWI Blog

What are the guidelines for choosing a good executor?

If you are starting to think about estate planning matters, you will want to consider potential candidates for the position of executor. Many people name their spouses, but some are reluctant to take on the task, especially if it involves significant assets.

It is therefore a good idea for you to put together a list of potential candidates who might serve as executor of your estate. You should then bring the subject up with each of them. Providing an overview of the responsibilities involved will elicit a variety of responses, anywhere from calm understanding to stuttering distress, which should allow you to narrow the field.

Who would you choose to be a guardian for your child?

Perhaps you are either about to change your will or create one for the first time. One of the most important decisions will be naming a guardian for your children. This will take considerable thought, and you might name more than one guardian, plus alternates.

The grandparents may be your first choice; your kids love them. However, there is the matter of age as well as state of health. You might give thought to other friends or relatives, especially as there are two types of guardians for minor children.

Why you aren’t too young to create an estate plan

If you are a member of the millennial generation, you may think that estate planning is something you only need to concern yourself with twenty or thirty years from now. Many people start to think in terms of estate planning when they have their first child.

You may be single and focused on your career, and feel marriage and family life are a long way off, or you could believe that you have plenty of time. Chances are, though, this is the perfect time to start the ball rolling.

Important ways to prepare your business for emergencies

Business of all sizes face the same challenges when it comes to emergencies or natural disaster. All businesses must focus on keeping employees and customers safe, not only because you care about them but also because you could face a lawsuit if someone is injured on your property because you were not adequately prepared.

The many benefits of establishing a trust

Whether you are nervous that one of your heirs may just squander the money you leave him or her, you have a family member with a disability that you worry about caring for after you're gone or you own lots of life insurance, you may benefit from establishing a trust. When you are putting your affairs in order in the case of your untimely death, there are serious things to consider. There are many different types of trusts, and finding the right one for you may be a tricky process. The benefits of a trust are also plentiful.

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