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Life Stages Estate Planning
If you are single, then you are in good company. According to the most recent U.S. Census, more than half of all adult Americans are single, too. Whether you just turned 18 or are 118 one thing you share with your married counterparts is the need for essential estate planning.
Even if you do not have two dimes to rub together, you are your estate. Did you know the law requires every adult American to make his or her own personal, financial and health care decisions? Who would make your basic decisions if you are legally incapacitated due to a serious injury or illness?
If you are single, then you are in good company. According to the most recent U.S. Census, more than half of all adult Americans are single, too. Whether you just turned 18 or are 118 one thing you share with your married counterparts is the need for essential estate planning.
Even if you do not have two dimes to rub together, you are your estate. Did you know the law requires every adult American to make his or her own personal, financial and health care decisions? Who would make your basic decisions if you are legally incapacitated due to a serious injury or illness?
If you are single, then you are in good company. According to the most recent U.S. Census, more than half of all adult Americans are single, too. Whether you just turned 18 or are 118 one thing you share with your married counterparts is the need for essential estate planning.
Even if you do not have two dimes to rub together, you are your estate. Did you know the law requires every adult American to make his or her own personal, financial and health care decisions? Who would make your basic decisions if you are legally incapacitated due to a serious injury or illness?
With each marriage come new rights and new responsibilities. If you already have an estate plan created when you were single, then you must bring your estate plan up-to-code to reflect your wedding vows.
Unfortunately, many married couples mistakenly believe that they can make personal, health care and financial decisions for one another should either spouse become legally incapacitated due to a serious injury or illness. Nothing could be further from reality!
With each marriage come new rights and new responsibilities. If you already have an estate plan created when you were single, then you must bring your estate plan up-to-code to reflect your wedding vows.
Unfortunately, many married couples mistakenly believe that they can make personal, health care and financial decisions for one another should either spouse become legally incapacitated due to a serious injury or illness. Nothing could be further from reality!
With each marriage come new rights and new responsibilities. If you already have an estate plan created when you were single, then you must bring your estate plan up-to-code to reflect your wedding vows.
Unfortunately, many married couples mistakenly believe that they can make personal, health care and financial decisions for one another should either spouse become legally incapacitated due to a serious injury or illness. Nothing could be further from reality!
Are you the parent of minor children? If yes, then they are your most valuable treasure. So, what arrangements have you made for their care should something happen to you and their other parent?
As with your own personal, health care and financial decisions, would you rather select the guardians (i.e., back-up parents) yourself, or let a probate judge make the selection without your input? Only through proper legal planning can you select the guardians.
Are you the parent of minor children? If yes, then they are your most valuable treasure. So, what arrangements have you made for their care should something happen to you and their other parent?
As with your own personal, health care and financial decisions, would you rather select the guardians (i.e., back-up parents) yourself, or let a probate judge make the selection without your input? Only through proper legal planning can you select the guardians.
Are you the parent of minor children? If yes, then they are your most valuable treasure. So, what arrangements have you made for their care should something happen to you and their other parent?
As with your own personal, health care and financial decisions, would you rather select the guardians (i.e., back-up parents) yourself, or let a probate judge make the selection without your input? Only through proper legal planning can you select the guardians.
Times have changed. In the new millennium, whether due to the death of a spouse or through divorce, blended families now outnumber traditional nuclear families. And the number is likely to grow, based on current statistics and trends.
Many blended families face unique social, psychological and economic challenges. As a result, over 60% of second marriages end in divorce. Fortunately, there are numerous organizations and support groups dedicated to helping blended families with these challenges.
Times have changed. In the new millennium, whether due to the death of a spouse or through divorce, blended families now outnumber traditional nuclear families. And the number is likely to grow, based on current statistics and trends.
Many blended families face unique social, psychological and economic challenges. As a result, over 60% of second marriages end in divorce. Fortunately, there are numerous organizations and support groups dedicated to helping blended families with these challenges.
Times have changed. In the new millennium, whether due to the death of a spouse or through divorce, blended families now outnumber traditional nuclear families. And the number is likely to grow, based on current statistics and trends.
Many blended families face unique social, psychological and economic challenges. As a result, over 60% of second marriages end in divorce. Fortunately, there are numerous organizations and support groups dedicated to helping blended families with these challenges.
Are you between age 40 and 55? If yes, then congratulations. Research has shown that you are in your peak earning years. And that is a very good thing.
Chances are good that you have some expensive life events going on right now, unlike when you were among the Married Couples without children.
Are you between age 40 and 55? If yes, then congratulations. Research has shown that you are in your peak earning years. And that is a very good thing.
Chances are good that you have some expensive life events going on right now, unlike when you were among the Married Couples without children.
Are you between age 40 and 55? If yes, then congratulations. Research has shown that you are in your peak earning years. And that is a very good thing.
Chances are good that you have some expensive life events going on right now, unlike when you were among the Married Couples without children.
Just a moment ago you were in the thick of your busy, busy Peak Earning Years. Now, you can see a new adventure is rapidly approaching your front windshield. What is it?
Retirement.
Are you getting ready?
Chances are good that your children have left the nest. Perhaps you are assisting your aging parents with their personal, health care and financial responsibilities.
Just a moment ago you were in the thick of your busy, busy Peak Earning Years. Now, you can see a new adventure is rapidly approaching your front windshield. What is it?
Retirement.
Are you getting ready?
Chances are good that your children have left the nest. Perhaps you are assisting your aging parents with their personal, health care and financial responsibilities.
Just a moment ago you were in the thick of your busy, busy Peak Earning Years. Now, you can see a new adventure is rapidly approaching your front windshield. What is it?
Retirement.
Are you getting ready?
Chances are good that your children have left the nest. Perhaps you are assisting your aging parents with their personal, health care and financial responsibilities.
Whether due to divorce or death, you are now Single Again.
You may have children and even grandchildren. In any event, you need to create (or revisit) your estate plan.
Did you know the law requires every adult American to make his or her own personal, financial and health care decisions? Now that you are single again, who would make your basic decisions if you are legally incapacitated due to a serious injury or illness?
Whether due to divorce or death, you are now Single Again.
You may have children and even grandchildren. In any event, you need to create (or revisit) your estate plan.
Did you know the law requires every adult American to make his or her own personal, financial and health care decisions? Now that you are single again, who would make your basic decisions if you are legally incapacitated due to a serious injury or illness?
Whether due to divorce or death, you are now Single Again.
You may have children and even grandchildren. In any event, you need to create (or revisit) your estate plan.
Did you know the law requires every adult American to make his or her own personal, financial and health care decisions? Now that you are single again, who would make your basic decisions if you are legally incapacitated due to a serious injury or illness?
You have arrived. Just a moment ago you were Nearing Retirement. When did you get to this place in life so quickly? Yikes, what do you need to do right now in preparation for that day?
Retirement.
Congratulations!
This is often an exciting, yet bittersweet time of life.
You have arrived. Just a moment ago you were Nearing Retirement. When did you get to this place in life so quickly? Yikes, what do you need to do right now in preparation for that day?
Retirement.
Congratulations!
This is often an exciting, yet bittersweet time of life.
You have arrived. Just a moment ago you were Nearing Retirement. When did you get to this place in life so quickly? Yikes, what do you need to do right now in preparation for that day?
Retirement.
Congratulations!
This is often an exciting, yet bittersweet time of life.
Welcome to Krause Donovan Estate Law Partners, LLC
Serving Madison & the Surrounding Areas
Focusing solely on estate planning, elder law, and probate & trust administration, our team of accomplished, highly motivated attorneys and staff provides the highest quality, comprehensive legal services to our community.
Our clients are a part of our family. From the implementation of your estate plan, to the completion of your estate settlement, we listen to your goals, answer your questions and work with you to bring simplicity, order, and control to your family. Families change, circumstances change, and laws change. We offer our clients a plan to meet on a regular basis to ensure their estate planning solution is always up to date.
We invite you to browse our website, get to know our firm, our philosophy, and learn the benefits of being part of the Krause Donovan family.
Copyright © Krause Donovan Estate Law Partners, LLC. All rights reserved.
Nelson W. Donovan has spent a lifetime talking to audiences. First as a military aviation instructor and more recently, about the importance of estate planning, tailoring plans for his clients, and writing on this subject. Nelson is also a JAG attorney for the US Army Reserves.
Daniel J. Krause, founder of our firm, has been practicing estate planning law since 1999. A retired Army Major and JAG Officer, Dan is a board-certified Estate Planning Law Specialist; certified by The Estate Law Specialist Board, Inc., the sole American Bar Association accredited organization to bestow this distinction.
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