Best Estate Planning Attorneys in Milwaukee

FAQs

• What is the non-emergency contact number for the local police station in Milwaukee, Wisconsin?

  Contact the Milwaukee Police Department at 414-933-4444 during non-emergencies.

• Where can I get a copy of police reports for incidents related to my case in Milwaukee, Wisconsin?

  Get police reports in person by going to the Open Records Office Counter on the second floor of the police station at 2333 N. 49th Street, Milwaukee, WI 53210. Operating hours are 8:00 a.m.-3:00 p.m., Tuesdays and Thursdays. Requests can also be sent through email at mpdopenrecords@milwaukee.gov. You can also call the Open Records Section at 414-935-7502 for more details.

• What can a family member in Milwaukee do if they have been left out in a will?

  The family member can challenge the will in the Milwaukee court if they were left out because the will may not be valid. It could be a forgery, the will's creator may have lacked mental capacity, or the creator being defrauded or threatened. An excluded family member can also contest a will in certain cases, such as premarital wills wherein the spouse was intentionally left out, wills prepared before the birth of children, and wherein a descendent was left out by mistake.

• How should you designate a guardian for your children in Milwaukee?

  A guardian should be designated for children below the age of eighteen. If the surviving parent has custody or lives with the children, they automatically get designated as guardians. Additionally, at least one backup guardian should be named in the event that the primary person indicated cannot fulfill the duty as guardian or is not authorized by the court in Milwaukee.

• Can you entrust wills in a Milwaukee court?

  For a service fee of $100, you can deposit a copy of a will at the Milwaukee County Register in Probate. Only you or a designated representative can take out the will upon presentation of proper identification together with the original service receipt. Contact a court staff at (414) 278-4444 for more details on this service or visit the court at 901 North 9th Street, Room 104, Milwaukee, Wisconsin 53233.

• How can an informal probate process in Milwaukee be initiated?

  Before you start an informal probate process without a lawyer, you are required to talk to a Deputy Register. Contact the probate office at (414) 278-4444 and choose option 2 to speak with a Deputy Register. It is imperative to call first before going to the courthouse because there are many cases wherein you do not need to visit the courthouse to initiate the probate process. The probate court is in Room 207 of the Milwaukee County Courthouse at 901 N. 9th St.

• What should children do if one of their parents in Milwaukee starts showing symptoms of dementia?

  The parent should prepare durable powers of attorney right away for property and healthcare directives that nominate a family member to make decisions when the parent becomes incapacitated. Persons showing signs of Alzheimer's disease and dementia may already lack the testamentary capacity to make a valid will. The durable powers of attorney can help the parent in Milwaukee fulfill their wishes regarding their health and assets when they are considered no longer able to make decisions on their own.

• What does an estate planning attorney do?

  An estate consists of the total assets that form an individual’s net worth, no matter how large or small. Estate planning attorneys use their in-depth knowledge of state and federal laws to help people best manage what will happen with their estates after they die or become incapacitated. Estate planning attorneys can prepare wills, form trusts, reduce estate tax burdens, and decrease or eliminate the need for probate court.

• What are valuable estate planning services an attorney can provide?

  With the many intricacies of assets, taxes, and state and federal laws that can affect a person’s estate, an estate planning lawyer can be a valuable professional asset, no matter how large or small a person’s estate may be. An estate planning attorney can:

  • Create a comprehensive plan to protect a client's legacy, that includes a will, power of attorney, trusts, life insurance, and advanced medical directives
  • Optimize an estate plan as tax laws, life events, assets, and goals change over time
  • Protect a client’s loved ones by preventing assets from entering probate
  • Help clients designate a person to make important health decisions for them if they become incapacitated

  
  

• Can estate planning attorneys help create trusts/wills?

  Estate planning attorneys can create trusts and wills. Through a will, an attorney can help a client designate their estate’s beneficiaries and assign an executor to represent the will in probate court. These attorneys can also create trusts, allowing a client to assign a trustee to oversee the estate, potentially avoiding probate court and holding assets to be distributed over time.

• Is estate planning the same as drafting a will?

  While both estate plans and wills officially document how their owners wish to allocate certain assets after their death, there are key differences. In estate planning, a will is often just one of several documents that form a comprehensive plan. In a will, people must designate a person responsible for executing their will after their death. The will can include guardians for their children when they die and beneficiaries to receive an inheritance of money, property, and other assets.

• What are the steps involved in estate planning?

  To create a thorough and effective estate plan, individuals should follow these steps:

  • Prepare a will that designates an estate executor; indicate who will receive what assets, and assign a trust and guardians for any children. Consider using an attorney if the will is in any way complex.
  • To avoid probate, have an attorney create a revocable living trust.
  • Assign beneficiaries to other assets, such as life insurance policies, retirement plans, and securities.
  • Use an attorney to prepare a living will, name a health care proxy, and create a HIPAA release form.
  • Update the plan every five years.

  
  

• How long does the estate planning process last?

  The length of the process can vary greatly depending on the size and complexity of the estate, the specific law office, and whether there’s an emergency or urgent need. If you’re using an attorney, you can generally expect it to take one to five weeks. You may be able to speed up the process by immediately providing your attorney with any bank statements or other documents they need.

• What is a trust?

  A trust is an agreement between a grantor, a trustee, and a beneficiary. In this agreement, the grantor allocates funds or real property assets to the trustee to be held either until the grantor passes away or until a specific, agreed-upon date. At that point, it's the responsibility of the trustee to distribute funds or property to the beneficiary or beneficiaries. While there are similarities between a will and a trust, a will is a more comprehensive document that typically requires probate court, while a trust allows assets to pass to the beneficiary without probate.

• How does a trust fund work?

  When opening a trust fund, a grantor allocates a trustee to oversee and manage assets in the account. This trustee can sometimes be a relative, an estate lawyer, or a bank that acts as the legal owner of the trust. While holding assets, the trustee is required to file taxes on trust assets.

• How does a living trust work?

  A living trust enables a grantor to manage their assets through a trustee while still alive. They can continually add funds and/or property to their trust fund by transferring them to the trustee, who accepts ownership of everything held in the fund. The grantor can name a beneficiary for their trust, and their assets will be automatically transferred to that person or establishment upon their death.

• Do I need a lawyer for a will?

  No, a lawyer is not required to draft or complete a will. However, there are some scenarios in which hiring an estate lawyer to assist with a will is a good idea, including when children or high-value assets are involved. Additionally, an estate lawyer can help to reduce probate fees and taxes paid by loved ones after a person dies. It's also best to work with a professional to ensure that the will addresses everything necessary, such as funeral plans, guardianship, and asset distribution.

• Can you have both a will and a living trust?

  Yes, and individuals who have a living trust should also have a will. While a living trust enables a person to leave funds and assets to a loved one when they're gone, a will is required to cover any assets that aren't included in the trust, such as guardianship of dependents, funeral plans, and forgiveness of outstanding debts, if applicable.

• How much does it cost to set up a trust?

  The cost of setting up a trust varies quite a bit depending on a variety of factors, including terms that are in place, special provisions for minor beneficiaries, and trustees' basic fees. In most cases, the minimum cost of setting up a trust is about $1,500, but depending on the factors mentioned above, this cost can increase by thousands of dollars.