Wills & Estate Planning Lawyer in Madison, WI
What is a Will & How Does it Work?
A will is a document that permits a person, called a testator, to provide for the payment of debts and the distribution of property upon their death. In the will, a person will name an individual, called a personal representative, to collect their assets, pay their obligations, and distribute any assets to individuals or entities named in their will.
How Do I Deal With an Estate Without a Will?
A will also allows a testator to name a legal guardian for their minor children or create a trust for the benefit of any person (including minor children) to be managed and distributed according to the terms specified by the testator.
If a person dies without a will, Wisconsin law will specify how your assets will be distributed at death. Many people prefer to write their own will to ensure their wishes are carried out after death, instead of those set by the state.
Powers of Attorney
In addition, our attorneys can help you draft powers of attorney for finances and health care. Both documents allow you to name an agent to make financial and medical decisions on your behalf should you be unable to act or make these decisions on your own. Both of these documents apply only while you are still living, while a will comes into effect after you have passed.
Why You Need an Estate Planning Attorney
Having an estate plan in place is helpful for persons of any age or health. It allows you to take control of future decisions and let your loved ones know your wishes. The fact is that you can never be too prepared when it comes to these documents. Working with an experienced estate planning attorney can help you ensure the documents. Our attorneys at Balisle Family Law Legal Counsel, S.C. have experience drafting wills of varying complexities and can discuss what might be right for your individual situation.