Estate Planning Lawyers Representing Burlington, WI & Kenosha, WI
Whether you know it or not, nearly everyone has an estate. Everything you own is included, from your home, to cars, to life insurance, to furniture and personal possessions. When you die, all of your possessions will be disbursed to someone or some organization. Most people prefer to have some say over how that happens. Although most people tend to think more about estate planning as they age, it is never too early to begin putting a plan together. Having a good trust attorney at your side to assist you in the creation of these important documents is important. Guttormsen & Terry LLC attorneys are skilled in helping individuals direct their estate in a way that reflects both their desires and their values.
Specific Estate Planning Practice Areas
Preparation of Wills and Trusts
One of the most important, yet most complicated areas of estate planning is the writing of a will or trust that accurately reflects the wishes of the estate holder. Many people do not know the difference between the two. Basically, a will is a document that outlines how your property is to be disbursed after you die. A trust, on the other hand, can reflect your wishes for directing property while you are still alive. Many individuals use both to create a complete estate plan.
Powers of Attorney
What if you are unable to make financial and/or medical decisions before you die? Who do you trust to make those decisions on your behalf? By executing Power of Attorney documents through Guttormsen & Terry LLC, you can rest assured that those decisions will be made only by the person you trust. The medical power of attorney outlines your desires for life-prolonging interventions, making these decisions much less stressful for family members faced with answering questions about your care during the most trying of times. Your financial power of attorney will allow your designee to oversee all of your financial decisions in the event of your incapacitation.
Probate and Trust Administration
Guttormsen & Terry LLC provides counsel you can trust to administer and oversee your probate, estate or trust. Maneuvering these procedures, often during a time of great stress and grief, can be difficult. Whether your situation is contentious or not, there are often complexities that require knowledgeable counsel. Assets may not be located all in one place, or even in one state. Sometimes the deceased has business interests that can be complex. Whatever the challenge your particular situation poses, the attorneys at Guttormsen & Terry will help you navigate them in a prudent and efficient manner.
Estate Tax Planning
Minimizing the impact of the tax consequences on the estate you leave to your loved ones requires advanced planning and knowledge of current law. Sophisticated legal vehicles like trusts require experienced counsel. An advanced asset protection plan will assure that you are maximizing the estate you are leaving behind. It is important to consider also whether state law where you live provides for estate taxes. Knowing the law and structuring a plan that is unique to your situation is Guttormsen & Terry LLC’s goal.