When heirs or beneficiaries can’t be located in a Wisconsin probate, the estate can’t ignore them; instead, the personal representative must use reasonable diligence to identify and find all interested persons before distributing the estate. That duty includes identifying heirs and beneficiaries, obtaining current addresses, providing required notices, and keeping records of...
Category: Beneficiary
Wisconsin Estate Planning: Seven Estate Planning Traps Most People Miss—and Seven Questions to Audit Your Family’s Future
Think back to how your life was seven years ago. Your family, your finances, your relationships, and even the accounts you use have probably changed in ways both obvious and subtle. Seven years does not feel like a long time until you start making the list.
Your estate plan...
3 Estate Planning Steps Every New Wisconsin Homeowner Should Take
Congratulations on your new home. Whether you are officially a first-time homeowner or are leveling up (or scaling back) to a space that better fits your life, buying property is a massive milestone.
While you are busy picking paint swatches and unboxing the kitchen, do not forget that a...
Flying Solo: Why Estate Planning Still Matters and What to Do Next in Wisconsin
As a single person, you may find yourself wondering who will step in to make important decisions for you if you become unable to do so or who will receive your money and property after your death. Although parents, siblings, or other loved ones may be the first people who come to...
Raising Stewards, Not Mere Beneficiaries: Preparing the Next Generation for Inheritance in Madison, Wisconsin
Steward—a term for someone entrusted with the care of something that does not personally belong to them—is commonly used in such realms as business, public service, and environmentalism.
Conservationists may be referred to as stewards of the land. Business leaders may describe themselves as stewards charged with acting in...
How to Get Organized to Meet with Your Madison, WI Estate Planning Attorney
You have decided to meet with an estate planning attorney to get your affairs in order and ensure that your loved ones are protected. Now that you have scheduled the appointment, it is time to get yourself organized and prepare for the first meeting.
Before You Meet with Your...
When a Trustee Becomes a Burden: Knowing When to Fire a Trustee in Madison, WI
The title of trustee implies that this position should be held by someone you find trustworthy, and for good reason. Serving as a trustee of a trust carries significant responsibility and duty not just to you as the trust’s creator but also to the beneficiaries who depend on accurate, faithful administration.
Do I Need a Will or a Trust in Madison, Wisconsin?
Yes, everyone needs a will, a trust, or both. These important tools ensure that your legacy will be carried out according to your wishes and allow you to provide for loved ones after your passing. A properly prepared trust can also help avoid probate, which is a lengthy, public, and often expensive...
Make Sure That Your Madison, WI Estate Plan Is More Than Kindling
It is a frigid November night. You put on a sweatshirt and sweatpants to warm up—to no avail—and decide to light the season’s first fire.
You open the woodstove door to find last year’s ashes still inside, the chimney unswept. Not ideal, but manageable. You can deal with these...
Whom Should I Tell About My Madison, WI Estate Plan?
Creating an estate plan is typically a private matter, not something you share in detail with everyone in your life. After all, what you choose to do with your money and property is your business. Your partner might know what is in your plan, especially if you created it together. But beyond...