IMPORTANCE OF GETTING AN ESTATE PLAN WHEN PURCHASING A HOME

Why Estate Planning Matters When You Buy A Home

Buying a home is one of the biggest financial moves you'll ever make, but protecting that home for the people you love is just as important as financing it. In this video, I sit down with Attorney Dera L. Johnsen-Tracy, co-founder of Horn & Johnsen SC in Madison, Wisconsin, to talk about why every homeowner needs an estate plan and what happens when families go without one.

Dera has been a featured presenter at conferences across Wisconsin and nationally, and she's a co-author of Wills, Trusts, and Probate: An Insider's Guide to Estate Planning in Wisconsin. Few people understand the intersection of homeownership and estate planning as well as she does, which is exactly why I wanted her on for this conversation.

What Estate Planning Actually Covers

We break down what estate planning really means, beyond just having a will tucked away in a drawer somewhere. A will or a living trust is a strong starting point for a comprehensive estate plan, but it's only one piece. We talk through the different types of estate plans, the tradeoffs between them, and why the right structure depends on your family, your assets, and your goals.

Why How You Title Your Assets Matters

One of the most overlooked parts of estate planning is making sure your assets are titled correctly. Even a well-written will can fail to accomplish what you intended if your home, accounts, and other property aren't titled in a way that supports your overall plan. Dera explains how this often-missed detail can make or break an estate plan down the road.

How An Estate Plan Helps Your Family Avoid Probate

We also discuss how having an estate plan in place can help your heirs avoid probate, a process that can be slow, public, and costly for the families left behind. Understanding this now, while you're buying or already own your home, can save your loved ones significant time, money, and stress later.

Why An Estate Plan Isn't A One-Time Project

A common misconception is that once a will or trust is signed, the work is done. Dera makes clear why that's not the case. Life changes, laws change, and an estate plan that isn't reviewed periodically can quietly become outdated or ineffective right when your family needs it most. Treating your estate plan as something to revisit, not just create, is one of the most important takeaways from this conversation.

Learn More From Horn & Johnsen SC

Check out Dera and Horn & Johnsen SC at hornjohnsen.com.

For more great info on the topics discussed in this video, visit hornjohnsen.com/three-common-mistakes.

Subscribe to the Horn & Johnsen YouTube channel @Hornjohnsen.