The Top 5 Benefits of Estate Planning
No one knows when their time will come, but taking the time to plan for your estate is one of the smartest things you can do. An estate plan ensures that your final wishes are carried out, and it also provides peace of mind in knowing that you have taken care of everything. If you haven’t created an estate plan yet, now is the time. In this blog post, we will discuss the top five benefits of estate planning and how crafting an estate plan can help you and your loved ones.
At Fricker Law Office, Estate Planning Attorney Robert Fricker and his team help individuals and families in the greater Milwaukee area with all aspects of estate planning, probate, and trust administration. If you need assistance getting started on your estate plan and you’re in Milwaukee, Brookfield, Waukesha, or a nearby community, contact Fricker Law today to schedule a consultation.
What is Estate Planning?
Broadly speaking, estate planning is the process of creating a plan for what will happen to your assets after you die. But estate planning is much more nuanced. A comprehensive estate plan includes deciding how your property will be distributed, naming a guardian for your minor children, outlining what should happen if you become incapacitated, and much more. An estate plan is important for everyone, but it is especially critical for those with young children or large estates.
Working with an experienced estate planning and probate lawyer like Attorney Robert Fricker will ensure your plan is customized to meet your needs and offer you all the benefits of planning for your future.
The Top 5 Benefits of Estate Planning
Protect Your Loved Ones
One of the most important benefits of estate planning is that it allows you to protect your loved ones. For example, if you have minor children, you can name a guardian in your estate plan who will take care of them if something happens to you. You can also use your estate plan to outline what should happen to your assets after you die, which can help your loved ones avoid navigating the often complex process of settling your estate after you pass away. Ensuring you have a power of attorney for healthcare and finances will protect your interests and help your family in case something should happen to you and you become unable to make these decisions for yourself.
Make Your Wishes Known
Another benefit of estate planning is that it allows you to make your wishes known. If you don’t have an estate plan, the courts will make decisions on everything from who will act as guardian for your minor children to who will inherit your assets. This can lead to conflict among your loved ones and may not be in line with your wishes. By creating an estate plan, you can ensure that your final wishes are carried out.
Determine What Happens to Your Assets
An estate plan gives you the ability to decide what happens to your assets after you die. You can use your estate plan to outline how you want your property to be distributed and who should receive it. This can help your loved ones understand your wishes and ensure that your assets are distributed the way you want.
Prepare for the Unexpected
No one knows what the future holds, but an estate plan can help you prepare for the unexpected. For example, if you become incapacitated, an estate plan can outline who will make decisions on your behalf. This can help avoid disagreements among your loved ones and ensure that your wishes are carried out.
Achieve Peace of Mind
One of the most important benefits of estate planning is that it can give you peace of mind. Knowing that you have taken care of everything can provide a great sense of relief. And, if something happens to you, your loved ones will know that they are taken care of and that your final wishes will be carried out.
Get Started on Your Estate Plan with Fricker Law
Getting started on your estate plan can seem daunting, but it doesn’t have to be. Attorney Robert Fricker can help you understand the process and create an estate plan that meets your needs. Contact Fricker Law today to schedule a consultation.
