In Wisconsin, the term “interested persons” in probate is defined by statute. It includes those with a legal or financial stake in the estate and is used to determine who must receive notices and who has standing to participate in the proceeding. The definition appears in Wis. Stat. § 851.21 and provides...
Category: Beneficiary
Wisconsin Probate: What happens when heirs and beneficiaries can’t be located in a Wisconsin probate?
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...
Wisconsin Probates: What Happens when Heirs and Beneficiaries Can’t be Located?
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...
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...
Removing a Trustee in Wisconsin
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?
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...
Who Should I Tell About My 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...
How to Leave Assets to Minor Children
You love your children and want to ensure that they are always taken care of. The desire to provide for them may also be shared by their grandparents, aunts, and uncles. However, when leaving money and property to minor children, even the best intentions can lead to big problems. Common mistakes can...
How to Avoid Probate Costs in Madison, Wisconsin
The bad news: When a person dies owning property in their sole name without a beneficiary, their loved ones will have to go through a court-supervised process called probate to transfer the property out of the deceased person’s name and into the name of intended beneficiaries or heirs at law. Going through...
Treating Your Children Fairly May Mean Unequal Inheritances
When thinking through their estate plan and how they want their assets(money and property) managed after they pass away, most parents wish to treat their children equally, often out of a sense of fairness. However, sometimes being fair or doing what is right by your children may mean giving unequal inheritances.