Estate planning is essential for everyone, regardless of the size of their estate or their stage of life. The capable attorneys of Borakove Osman, LLC in Madison have extensive experience providing estate planning services for clients throughout Wisconsin. We are committed to ensuring that our client’s assets are protected and will be distributed as they wish. More than that, we are dedicated to making certain that our clients and their loved ones will be well-prepared for both the future’s inevitable course and its unpredictable occurrences.
If you have not yet created an estate plan, or need to update documents, now is the time to contact us for well-grounded, personalized guidance. We have the skills and experience to craft a comprehensive estate plan tailored to meet your particular needs and goals.
Last Will and Testament
A Last Will and Testament is a foundational document in estate planning. It specifies how you want your assets distributed after your death and allows you to appoint an executor to carry out your wishes. Your will is also the document in which you designate the guardian for your minor children and arrange for care of any other dependents when you pass away.
Revocable Living Trusts
Revocable Living Trusts offer flexibility (since they can be changed) and privacy (since, unlike wills, they are not public documents). When you transfer your assets to a trust, you can continue to manage them during your lifetime, but they are legally removed from your ownership. This enables a smooth asset distribution after your passing and avoids the need for probate.
Irrevocable Trusts
Irrevocable Trusts are also commonly used in estate planning, but, once established, they cannot be altered or revoked. Irrevocable trusts offer tax benefits, asset protection, and control over how assets are distributed to beneficiaries. Some serve specific purposes, e.g. Special Needs Trusts and Spendthrift Trusts.
Durable Power of Attorney
With a Durable Power of Attorney you can authorize someone to make legal and financial decisions on your behalf if you become incapacitated. This document ensures that a person you trust will manage your affairs, sign contracts, handle investments, do banking, and even file a lawsuit on your behalf, if you’re unable to do so yourself.
Health Care Proxy
A Health Care Proxy, names the person you want to make medical decisions on your behalf if you’re unable to communicate your wishes. This document ensures that your healthcare preferences will be respected if you are incapacitated.
Advance Medical Directive
An Advance Medical Directive outlines your preferences for medical care if you are at the end-of-your life or unable to communicate (e.g. in a coma). This document states your wishes in regard to receiving life-sustaining treatment (e.g. intubation, feeding tube) if you will not recover. It also addresses organ and tissue donation.
Guardianship
Guardianship can be established through the court to protect an adult or minor who is incapable of self-care due to a serious injury or illness. A legal guardian has the authority to make a wide range of lifestyle as well as financial decisions for the ward’s well-being.
Marital Property Agreements
Marital Property Agreements, such as prenuptial or postnuptial agreements, establish how a couple’s assets and debts will be divided in the event of divorce or death. These agreements provide clarity and protect both spouses’ interests.
Borakove Osman’s Unique Approach to Estate Planning
At Borakove Osman, we offer several innovative programs to tailor the essential components of estate planning to meet your specific needs. These programs range from SMART beginningsSM Trust planning for married couples seeking asset protection for themselves and their children to Founders’ Circle Private CounselSM Trust planning for high-net-worth individuals with complex estates.
You can depend on our individualized approach to provide you with an estate plan that
not only meets your present requirements but reflects your preferences for the future. Contact our accomplished, caring attorneys today so we can help you provide for your loved ones and preserve your legacy.
Borakove Osman, LLC is your trusted partner for estate planning in Wisconsin. Serving all of Wisconsin, including Madison and Dane County, we are dedicated to providing high-quality legal advice and representation to help you secure your family’s future.