Stevens Point Attorney Ron Skrenes says even if you don't have
millions of dollars... it's still important to have a will.
Skrenes says anyone over 18 years old should have one and if you get married or have children it needs to be updated.
He says there are five main reasons for a will. "To appoint a guardian for your children, to set up who will receive your property, to establish who will be in charge of dividing your assets, to establish a trust fund for any of your beneficiaries and to plan the amount of taxes on your estate.
Skrenes says state law allows you to nominate someone to take care of your children if you pass away.
"In Wisconsin, you are allowed to nominate someone to be guardian of minor children, or adult children with disabilities severe enough to warrant guardianship."
He says it's important to appoint someone to be in charge of your estate to eliminate any confusion over who will receive your property, and any other assets.
For more information on Estate Planning click on the link below.