Estate Planning Services Based in Madison, WI
Proudly Helping Clients Plan for the Future
Krause Estate Planning & Elder Law Center is dedicated to helping regular Wisconsin people create smart plans for the future that will support their family if the worst should happen. Our legal professionals are here to walk you through all your options so that we can devise a comprehensive estate plan that is suitable for your situation and tailored to your unique goals. Our legal professionals don’t use cookie-cutter strategies or fillable forms. Instead, we build helpful relationships with our clients so that we can craft the detailed documents they need to protect their best interests.
Our law firm was founded by Dan Krause, a former Army JAG Attorney, with the goal of serving clients of all backgrounds who need legal guidance navigating the estate planning process. We exist to be a steadfast family friend, loyal to our clients through their family’s good times and also the challenges of aging and disability. Attorney Krause is a Board Certified Estate Planning Law Specialist, one of only eight such specialists in Wisconsin. With over 20 years of legal experience, attorney Krause has helped thousands of clients feel better about their future by creating smart plans that will preserve their wealth and legacies. Our estate planning attorneys in Madison, WI are ready to help you.
Give us a call at (608) 344-5491 if you would like to discuss the estate planning process with a seasoned lawyer at our firm.
Personalized Estate Planning Services in Madison, WI
Do you have a plan for how your assets will be distributed after you pass away? After you pass away, your home, vehicles, bank accounts, and retirement funds will need to be managed and distributed. Our talented attorney can draft a comprehensive and personalized estate plan that specifies how your wealth is handled so that you know your family will be taken care of long after you are gone.
Our legal team has a stellar reputation for taking a personalized approach to estate planning that ensures our clients' estate plans are complete all the way through. From titling assets correctly to completing and signing the right legal documents, our Board-Certified Estate Planning Law Specialist and our team of legal professionals are here to take the burden off your shoulders so you can focus on the future.
Reach out to us today to discuss any of the following estate planning services we offer at our firm:
- Wills: Your last will and testament is an essential document that provides instructions on what to do with your assets once you pass. We provide customized wills to provide maximum protect for your loved ones and assets.
- Trusts: Even if you have a will, a trust is also highly recommended to help provide more comprehensive protections. A trust can help you avoid probate, pass on assets efficiently to beneficiaries, and provide protections from creditors.
- Asset Protection: We can explore a variety of proactive asset protection strategies to help you maximize what you pass onto your loved ones while protecting them from financial predators and minimizing excessive taxes.
- Charitable Planning: We have helped many clients utilize charitable trusts to support causes they are passionate about. If you are interested in creating a charitable trust, contact us to learn your options.
- Power of Attorney: Having a comprehensive power of attorney can help ensure that your financial and medical affairs are taken care of in the event you are unable to manage them yourself.
- Business Succession Planning: When you've worked so hard to build up a successful business, you want to create an effective exit strategy and succession plan that is in your best financial interests. Our attorneys can guide you through your options and create a plan that is right for you.
What Are the Benefits of Estate Planning?
The main benefit of proper estate planning is that your family and loved ones will be prepared for the future and what comes after you pass away. Part of estate planning will help you find solutions to common questions such as "how do I pass on my assets to my family members?" and "how will I pay for long-term care?". That is why it is important to start estate planning as soon as possible so that you have ample time to create a plan that takes care of all your needs.
Some additional benefits of having an estate plan:
- Protect valuable assets: There are a variety of asset protection strategies that can protect your hard-earned wealth from creditors, seizure, and other potential losses. We can guide you through the various options to legally protect and safeguard your assets so you can pass them to your loved ones with peace of mind.
- Avoid the hassle and burden of the probate process: One of the things that families often try to avoid is probate, as it can be a time-consuming and costly process following death. With proper planning, you may be able to avoid probate and more efficiently administer property to beneficiaries.
- Specify your wishes for important matters in case you are ever incapacitated: During the estate planning process, you will have the opportunity to state your medical preferences, including end-of-life care, who will manage your affairs, and more in the event you cannot care for yourself.
- Simplifies the transition to retirement: As you approach retirement, there are many issues that you still need to consider, such as planning for long-term care, maximizing your retirement assets, planning for disability, setting up trusts, and more.
- Immediately administer your property following your death: Having a suite of well-written documents for your estate can help you more efficiently transfer property and assets to your loved ones after you pass away, rather than leaving it up to the courts and causing family disputes over your estate.
- Reduce probate, tax, and other costly expenses: When assets are transferred to beneficiaries upon death, there are various estate and inheritance taxes that are required. Estate planning offers strategies to help you reduce or eliminate taxes so you can leave more to your loved ones.
- Ensure your children are taken care of: When you pass away with young children, you want to make sure that they are in the care of someone that you trust. Choosing a guardian is extremely important because that person will be in charge of your children's upbringing. Otherwise, a court will make that decision for you.
- Accommodate special needs children: Those with special needs loved ones may worry about how they will be able to provide and care for themselves. With advanced planning, you can create a Special Needs Trust with your assets that can be used to pay for your loved one's everyday needs without hurting their eligibility for government benefits.
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