Wisconsin residents and others who are 65 and older have a 70 percent chance of needing long-term care. However, people who live alone may lack the support system needed to help provide that care. In most cases, individuals have a spouse or a child to take care of them after a medical emergency or another health issue. A person who has no immediate family available can benefit from cultivating a circle of friends or acquaintances.
Fewer young people in Wisconsin see marriage as a life goal, but when they do, they are more likely to pursue a prenuptial agreement in advance. The American Academy of Matrimonial Lawyers reported that 18- to 34-year-olds are particularly likely to seek a prenup before tying the knot. While the recent increase in millennial prenups is a current trend, it reflects the ongoing popularity of these types of agreements. Over the previous 20 years, the frequency of prenuptial agreements has multiplied five times over.
Wisconsin residents who are concerned about how their estate will be managed after their death should be aware that a trust can be a critical part of an estate plan. Trusts can be used to hold and manage various types of assets.
Selling your home is rarely an easy process. Depending on how long you have lived there, you may have drastic purging to do, including cleaning out garages, closets, crawl spaces and other places where you store useless items. You may have minor repairs and cosmetic work to do to improve the appeal of your home, and you will certainly have what may seem like endless packing to do.
Wisconsin residents who have a loved one with a disability may consider a special needs trust to assist with their financial needs. The trust can be used to enhance any government benefits that special needs individuals receive. When it is drafted properly, a special needs trust will not interfere with an individual's eligibility for government benefits.
Recently divorced Wisconsin residents might have questions about how to get their financial life under control now that their divorce proceedings have been finalized. Here are some tips to bring order and control back to a divorced individual's financial life.