Brookfield/Elm Grove Monthly

Page 4B • Freeman Brookfield & Elm Grove NOVEMBER 2015 January 9 & 10, 2016 10:00AM – 4:30PM Exposition Center at Wisconsin State Fair Park, Milwaukee Plan the Wedding Everyone Remembers! Watch for the Wonderful World of Weddings special section to be inserted into the Brookfield & Elm Grove This Month by Tuesday, January 5, 2016. This section is also available online at gmtoday.com. Brookfield & Elm Grove T H I S M O N T H 262-784-5880 262-784-5880 13425 Watertown Plank Rd. in Elm Grove – Park & Shop Plaza www.mysticirelandusa.com Mystic Ireland Gift Store Mystic Ireland Gift Store FREE – Irish soda, Irish cheese, biscuits, treats, prizes & more! AMAZING one-time specials & discounts! Special showing of Irish wools and capes & new jewelry. 15% OFF one item with AD The largest variety of quality Irish products in the area! Holiday Open House Saturday, Dec. 5 – 10 a.m. to 4 p.m. 246835002 TO DATE, OVER... 5 0 0 0 $ IN BRAND NAME COUPONS SAVINGS THIS YEAR! To subscribe call 262-542-2500. By Katherine Michalets Freeman Staff ELM GROVE — With as many as 120 million Ameri- cans not having an up-to-date estate plan, industry expert Richard Behrendt is eager to share helpful advice. As director of estate plan- ning at Annex Wealth Man- agement, Behrendt said everyone should have an ele- ment of estate planning — whether that's a young adult at age 19 who should have a power-of-attorney in case he is in a bad accident to a 60- year-old mother and grand- mother who should have a irrevocable living trust. "I can make an argument every adult should do some estate planning," he said. There is no one-size-fits-all option for what each individ- ual needs, Behrendt said. He advises meeting with some- one who specializes in estate planning every three to five years or during a major life change, such as the birth of children or grandchildren, a move out of state or retire- ment. "If you are not going to someone who is not really top shelf, really well versed, you are not going to get the right documents," he said, It's important for young adults to be protected as well, he said, because it's possible for him or her to become incapacitated and the parent will no longer have legal responsibility for her child. For one of the next major life stages, parenthood, Behrendt said a guardian should be appointed in case they cannot perform the role. When a person reaches their 40s or 50s and has start- ed to pay off bills and accu- mulate more net worth, Behrendt advises creating a revocable living trust. And then at retirement age as a person's health may start to decline, it's important to have all of these items and advance health care direc- tives. A common mistake people make is not having all of their assets linked, such as their property and IRA fund. It's also important to take in mind who the beneficiaries are, Behrendt said. "Be careful about leaving too much too soon to younger beneficiaries," he said, explaining that if a 22-year- old college student gets what they perceived to be a big windfall of money he or she may drop out of school. Or, he said, it's important to take into consideration if the ben- eficiary is in a rocky mar- riage. According to the AARP, there are several costly estate planning blunders that can be made, such as not getting an expert's review of docu- ments. The organization said there are many options avail- able for free legal forms, but an expert should review them after they have been filled in. Another problem can be leaving lump sums to benefi- ciaries. Donald A. DeLong, an estate, business and tax-plan- ning lawyer in Southfield, Mich., told the AARP that money left behind should be placed in a trust versus giv- ing cash. A revocable living trust or an irrevocable trust can con- tain so-called spendthrift pro- visions. "A spendthrift provision prevents the beneficiary from getting advances against or trying to get a loan using his interest in the trust as collat- eral," DeLong said. "It also leaves the beneficiary's credi- tors in the cold because the beneficiary has no control over or access to the trust funds in the trust." A trustee or executor also needs to be selected carefully, Behrendt said, and should be someone who is organized and trustworthy. He said it's important to let that person know you are thinking of her for that responsibility and let her know that if she isn't inter- ested in that role, you won't be offended and will find someone else. Email: kmichalets@conleynet.com Having a plan for the what-if Estate planning should be addressed at all ages, says industry expert Basic concepts for estate planning ■ Last will and testament. A last will and testament directs how assets titled in your individual name will be distributed upon your death. Without a will, assets titled in your name will be distributed according to the laws of the state where you live. ■ Revocable trust. For some, a revocable trust is a better alternative to a will because a trust allows assets to pass to beneficiaries without the delay, expense and public records of a probate proceeding. ■ Durable power of attorney. A durable power of attorney for financial matters authorizes someone else to manage your financial affairs in the event you become incapacitated. ■ Advance health care directives. A power of attorney for health care and a declaration of living will are also essential documents to have in the event you become incapacitated. A POAHC allows your agent to consult with your physician and other caregivers if you are not able to communicate on your own behalf. ■ Ancillary documents and considerations. You may also want to prepare a written memo- randum of who should receive your personal property, such as jewelry and collectibles. Another important document to have is a form that complies with the Health Insurance Portability and Accountability Act (HIPAA) of 1996, which protects the privacy of your medical records. Source: Annex Wealth Management Daily: Public ice skating, noon to 3 p.m. week- days, 2 p.m. to 4 p.m. weekends, Eble Ice Arena, 19400 W. Bluemound Road, Brookfield. $6.50 for adults, $5 for children and seniors. www.waukeshacounty.gov, 262-784-7512. Nov. 1: "The Addams Family," 2 p.m. Sunday, Nov. 1 and Nov. 8; 7:30 p.m. Nov. 5-7; Sunset Playhouse, 800 Elm Grove Road, Elm Grove. Tickets range from $15 to $25. www.sunsetplay- house.com, 262-782-4430. Nov. 2: Love Me Do: Lennon and McCartney, 7:30 p.m. Nov. 2; 2 p.m. and 7:30 p.m. Nov. 3, Sunset Playhouse, 800 Elm Grove Road, Elm Grove. Tickets range from $16 to $20. www.sun- setplayhouse.com, 262-782-4430. Nov. 3: At Knits End Knitting Club, 1 p.m. to 3 p.m., Brookfield Public Library, 1900 N. Calhoun Road, Rotary Room. Free. www.ci.brookfield.wi.us, 262-782-4140, option 2. Nov. 9: It's all Elementary Mystery Book Club: "Sandrine's Case," 7 p.m. to 8 p.m., Brookfield Public Library, 1900 N. Calhoun Road, Har- nischfeger Room. Free. www.ci.brookfield.wi.us, 782-4140, option 1. Nov. 10: Preventing Senior Fraud, 1 p.m. to 2:30 p.m., Brookfield Public Library, 1900 N. Calhoun Road, Harnischfeger Room. Free. www.ci.brookfield.wi.us, 782-4140, option 1. Nov. 11: Greater Brookfield Chamber of Com- merce Active Business Leads Exchange net- working meeting, 7 a.m. to 8:30 a.m., Dave and Buster's, 2201 N. Mayfair Road, Wauwatosa. $14 at least two days prior, $18 at the door. www.brookfieldchamber.com, 262-786-1886, bcc@brookfieldchamber.com. Nov. 11: Children's Theater Series: "Up and Adam," 10:30 a.m. Nov. 11-13, 10:30 a.m. and 2 p.m. Nov. 14, Sunset Playhouse, 800 Elm Grove Road, Elm Grove. Tickets range from $4 to $10. www.sunsetplayhouse.com, 262-782-4430. Nov. 11: Talking About Books Book Club: "The Wright Brothers," 7 p.m. to 8 p.m., Brookfield Public Library, 1900 N. Calhoun Road, Rotary Room. Free. www.ci.brookfield.wi.us, 262-782- 4140, option 2. Nov. 12: Short and Sweet Book Club: "The Col- lector of Treasures," "The Destination," "The Wog," 1 p.m., Brookfield Public Library, 1900 N. Calhoun Road, Harnischfeger Room. Free. www.ci.brookfield.wi.us, 262-782-4140, option 2. Nov. 12: Family Fun Night: Game Edition, 6:30 p.m. to 8 p.m., Brookfield Public Library, 1900 N. Calhoun Road. Free. www.ci.brookfield.wi.us, 262-782-4140, option 2. Nov. 14: Saturday Crafternoons, noon to 4 p.m., Brookfield Public Library, 1900 N. Calhoun Road. Free. www.ci.brookfield.wi.us, 262-782- 4140, option 2. Nov. 17: Armchair Travel Book Club: "The Other Side of Paradise: Life in the New Cuba," 10 a.m. to 11 a.m., Brookfield Public Library, 1900 N. Calhoun Road, Rotary Club Room. Free. www.ci.brookfield.wi.us, 262-782-4140, option 1. Nov. 17: At Knits End Knitting Club, 1 p.m. to 3 p.m., Brookfield Public Library, 1900 N. Calhoun Road, Rotary Room. Free. www.ci.brookfield.wi.us, 262-782-4140, option 2. Nov. 19: Back in Time Book Club: "Mudbound," 2 p.m., Brookfield Public Library, 1900 N. Cal- houn Road, Rotary Room. Free. www.ci.brook- field.wi.us, 262-782-4140, option 2. Nov. 19: E-Readers and Your Library Demon- stration, 2 p.m. to 3 p.m., Brookfield Public Library, 1900 N. Calhoun Road. Free. www.ci.brookfield.wi.us, 262-782-4140, option 2. Nov. 19: Greater Brookfield Chamber of Com- merce Business After 5 meeting, 5 p.m. to 7 p.m., Schlossmann's Dodge City Chrysler Jeep, 19100 W. Capitol Drive, Brookfield. $10 at least two days prior, $15 at the door and for first-time guests, $40 for nonmembers. www.brookfield- chamber.com, 262-786-1886, bcc@brookfield- chamber.com. Nov. 19: "Why We Love the Packers" with Author Jim Rice, 7 p.m. to 8 p.m., Brookfield Public Library, 1900 N. Calhoun Road. Free. www.ci.brookfield.wi.us, 262-782-4140, option 2. Nov. 21: Fall Festival of Trains, 9 a.m. to 5 p.m., Brookfield Public Library, 1900 N. Calhoun Road. Free. www.ci.brookfield.wi.us, 262-782- 4140, option 2. Nov. 21: Saturday Crafternoons, 10 a.m. to 4 p.m., Brookfield Public Library, 1900 N. Calhoun Road. Free. www.ci.brookfield.wi.us, 262-782- 4140, option 2. Nov. 21: Milwaukee Ukulele Festival 2015, 10 a.m. to 10:30 p.m., Sunset Playhouse, 800 Elm Grove Road, Elm Grove. Tickets for daylong pro- gram (workshop and concert) $75 for adults and $55 for students; concert only (starts at 7 p.m.) $20. www.sunsetplayhouse.com, 262-782-4430. Nov. 23: Great Lives Book Discussion: "Ameri- can Titan: Searching for John Wayne," 1 p.m. to 2 p.m., Brookfield Public Library, 1900 N. Cal- houn Road, Harnischfeger Room. Free. www.ci.brookfield.wi.us, 262-782-4140, option 2. Nov. 25: Greater Brookfield Chamber of Com- merce Active Business Leads Exchange net- working meeting, 7 a.m. to 8:30 a.m., Dave and Buster's, 2201 N. Mayfair Road, Wauwatosa. $14 at least two days prior, $18 at the door. www.brookfieldchamber.com, 262-786-1886, bcc@brookfieldchamber.com. Nov. 28: The Jayne Taylor Christmas Show, 7:30 p.m., Sunset Playhouse, 800 Elm Grove Road, Elm Grove. Tickets range from $18 to $20. www.sunsetplayhouse.com, 262-782-4430. NOVEMBER CALENDAR

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