A coherent strategy for the transfer of assets is, of course, crucial to the success of any estate plan. But our best-laid plans will fall far short of expectations if the trusts we’ve so carefully drafted are never properly funded.
Estate planning is an important topic for everyone. Accidents and serious medical conditions can arise suddenly and it is important to be prepared. The need for effective end-of-life planning impacts everyone, even the rich and famous.
In Wisconsin and other states, probate is the legal procedure through which a person’s assets are transferred after their death. The process is supervised by a court of law and designed to protect anyone with a legal interest in the deceased person’s estate.
Estate planning is an essential tool to ensure your money and other assets are transferred pursuant to your wishes upon your death. If you are bequeathing money to a loved one in your will, it is important to keep in mind that large sums of money can be quickly and easily squandered.