At Liebmann & Van Straten Legal Group, LLC, we know that estate planning in Green Bay is as important here, as it is everywhere. One of the truly astounding trends in estate planning is the story of the wealthy celebrity that passed away without doing their own estate planning. The most recent example of this is Aretha Franklin. According to an article posted on MSN.com, the Queen of Soul died without a will, despite having a special needs son. Estate planning in Green Bay is critical whether you’re a celebrity or not.
An Estate Plan for our Green Bay clients would consist of, at the very least, a Last Will and Testament, Healthcare Power of Attorney and Durable Financial Power of Attorney. If someone is doing Estate Planning in Green Bay and has $80 million like Aretha Franklin did, a revocable trust or irrevocable trust, or some combination of them, would be integrated into your estate planning to give you the best possible outcome when it comes to estate taxes. Also, when there is a special needs beneficiary, a special needs component should also be implemented to protect that beneficiaries’ comfort and lifestyle.
Aretha Franklin did not have a will or a trust, and as a result, her estate will likely be subject to a lengthy court process. You do not want the laws of intestacy to determine what happens with your estate, and if you’re worth as much as Ms. Franklin, you don’t want the government and lawyers to receive a good portion of it. Estate planning is not something you should leave to chance, whether you’re a multi-million-dollar celebrity, a factory worker or a school teacher. Estate planning in Green Bay is very important. It’s important to understand what happens to your belongings after you die, as well as who will be able to take care of you while you’re alive.
Should you have any questions regarding Estate Planning in Green Bay and its surrounding Wisconsin communities, please do not hesitate to contact the expert Estate Planning lawyers at Liebman & Van Straten Legal Group, LLC. We can be reached at (920) 784-2900. Liebmann & Van Straten Legal Group, LLC prides itself on its expertise in Green Bay Estate Planning, wills, revocable trusts, special needs trusts, irrevocable trusts, and powers of attorney. Do not hesitate to contact the trusted Estate Planning attorneys in Green Bay at Liebmann & Van Straten Legal Group, LLC.