Attorneys Margaret Hickey, Emily Tercilla, and Lauren Otte attended the 37th Annual Family Law Workshop in Door County at the beginning of August. The three day Workshop in Sturgeon Bay, Wisconsin included both educational and networking events.
No one looks forward to the divorce process, especially the property division phase, which can be complicated if significant assets are involved.
You probably want to get through the entire ordeal as quickly as possible, but mistakes could be costly, and bad decisions could wreak havoc with your future.
One of the most common questions clients have is what is the difference between a financial Power of Attorney and a Last Will and Testament, and why do I need both. Both documents can be vital parts of an estate plan, as they serve separate purposes, so it is important to understand the difference between the two.
You and your spouse are splitting up, and you are preparing for the divorce. Going through a divorce can be very complex, and there are many legal details that you will have to confront. As you learn about the process, you are encountering questions that never even occurred to you.
Like this one: What will happen to my assets? How will my money, real estate and personal items be divided? In Wisconsin, the answer to that question surprises a lot of couples.
Having a plan for what happens to the assets you've worked hard for after death is important. Your life and all that you have done to make your loved ones benefit from it are more secure when a legally recognized estate plan is created. Your estate could include a home, vacation property, furniture, financial accounts, and anything else that belongs to you. Creating an estate plan will take what has been thought about, spoken over with others and turn it into what is lawfully acknowledged for how you wish to distribute your assets.