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If you want to take charge of your financial future for your family, you may want to think about estate planning. With these plans, you can ensure a smooth transfer of assets to the next generation. Meeting with a Wisconsin estate planning attorney is the first step in the process. After that, you can create a plan that adheres to your wishes. If you want to know how to prepare for a meeting, here are a couple of tips for you. 

Outline Your Goals

Before heading to a consultation, you will want to define your goals and objectives. This is the time to think about your preferences for healthcare decisions or concerns about your asset distributions. Some families have issues or financial considerations that will need to be addressed. The more information the attorney has at their disposal, the better they can help create a solid estate plan for you. 

Bring Financial Information and Documentation

Since estate planning deals with your assets and debts, you will want to bring all the relevant documents, such as:

  • Assets and liabilities lists
  • Current income and anticipated future income documents
  • Insurance policies
  • Retirement accounts and investments

Information About Family Members and Beneficiaries

You need to designate who will receive your assets. For that reason, you will want to have a list of family members and beneficiaries. Make sure to have their full names, addresses, and contact information.

Consider Your Healthcare Preferences

Wisconsin allows for the creation of advanced healthcare directives. You may want to create a living will and healthcare powers of attorney. Before scheduling a meeting, think about what you want to happen if you are too sick or incapacitated to make decisions. 

Bring Existing Legal Documents

If you have previously created legal documents, such as wills, trusts, or powers of attorney, consider reviewing them before the meeting. With that information, the estate planning attorney will have to see if your current plan needs to be modified or updated. 

Designate Potential Guardians for Minor Children

For most people, their children are a top concern. If you have minor children, consider who you would designate as their guardian in the event of your incapacity or passing. Before you make these decisions, always talk to your spouse or family members. You want to find someone who is willing to accept the role of guardian for your children. 

Consider All Tax Implications

Depending on how you set up your estate plan, there could be a few tax implications. Wisconsin has its own set of rules regarding estate taxes. With help from a knowledgeable attorney, you can minimize tax burdens and maximize the benefits for your beneficiaries.

Create an Estate Plan Today

Preparing for a meeting with a Wisconsin estate planning attorney involves carefully considering your financial situation, family dynamics, and personal preferences. A well-prepared meeting lays the groundwork for a customized estate plan that protects your legacy. Along with that, it provides peace of mind for you and your loved ones. 

If you are ready to take your estate plans to the next step, make sure to set up a consultation with Collins Law Firm. We proudly serve Southeastern Wisconsin and the Milwaukee area. Our estate planning legal team has decades of experience helping individuals like you to build and fight to protect your legacy. Contact us or call (414) 207-6292. Schedule your free and confidential consultation today!

Talk to someone about your estate plan today. Free and Confidential.

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