Estate planning is something that we should all start doing at a young age, even though we all believe we will live to be about 100 with modern medicine. Making wills and starting to save now is essential if you want your death to run smoothly. Of course it will be devastating for people, but you want to help soften the blow as much as you can and not leave them with tough decisions as to what to do with your possessions etc.
Estate planning also comes with many tax burdens that you must plan for. These include many such as inheritance taxes and estate taxes. If you plan your finances the right way you can avoid many taxes which will give you more money to leave for your family. Estate planning can sometimes be very costly as they have to be approved by lawyers and everything, so Wisconsin has actually decided to help out.
Milwaukee, WI has started a new program called “Wills for Heroes” in which they are offering free estate planning for police officers, firemen, and other emergency personnel. “Services include help in creating wills and living wills, as well as providing power of attorney for financial and health care matters.” It is a good way to give back to the people that risk their lives every day to help others.