Planning a Will

You don't need to have a large estate to prepare a will. Anyone who owns property such as cash, stocks, jewelry or furniture, or land with or without a house, should prepare a will. If married, each spouse should have a will.

Making a Valid Will

A will should be made when a person is "legally competent" (of sound mind and at least 18 years old). A will should be prepared while its maker is in good health and free from emotional stress. In other words, to make a valid will, you must understand such things as what property you own, its value, and whom you are leaving it to when you die.

Dying Without a Will

When there is no valid will, a court may appoint an administrator to handle the decedent's affairs, and his or her property is then distributed according to a formula fixed by law.

The laws for distribution of an intestate estate are rigid and generally do not make accommodations for those in unusual need. After payment of taxes, debts, funeral expenses and administrative costs, the property goes to the surviving spouse, children and/or relatives. The laws are specific as to how property is to be distributed, including which relatives have priority and how the property is divided.

Power of Attorney

The Power of Attorney is a legal document made to appoint someone else to act on behalf of a person on specific matters.

A Power of Attorney can be made to start immediately, or upon mental incapacity of the person. The Power of Attorney cannot be used to designate someone to make medical decisions for you in the event that you are unable. This requires a document known as a Medical Power of Attorney.
:
The authority granted in a Power of Attorney or a Medical Power of Attorney ceases at the death of the person granting the power. A valid Will should be created for effective estate planning.

Click HERE for more information on Wills in Wisconsin and HERE for a brochure in .pdf format.

Click HERE for more information on Powers of Attorney.