Many people include specific directions as to whom should receive certain items, such as a wedding ring, watch, or family heirloom, within their estate planning. For shareholders of the Green Bay Packers, this can also include a determination as to which heir receives the share(s) of stock.
Read MoreUnder state law in Wisconsin or Illinois, a person's pet is essentially considered personal property of the estate at the time of the owner's death; meaning that probate system views the pet is just another asset to be "distributed" to an heir. Owners may, at some point, have had a conversation with a friend or relative and come to the conclusion that they had identified someone to take in the animal if necessary. It is important to remember, however, several points.
Read MoreLearn about a 3-step process for ensuring that medical professionals have access to your treatment preferences in the event you are incapacitated.
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