In Wisconsin probate, the court sets a “claims date” in the notice to creditors, and creditors must file their claims on or before that deadline; in practice this is often around four months from the date of publication or mailing of the notice. If a creditor misses the claims date, the claim...
Category: Estate Planning
Wisconsin Probate: Are appraisals necessary in a probate in Wisconsin? When are they not necessary?
In Wisconsin probate, appraisals are not automatically required for every estate asset. The law requires the Personal Representative to list assets at fair market value, but formal appraisals are needed only when reliable valuation cannot otherwise be established or when the court, statute, or circumstances make them necessary.
Appraisals...
Choosing Executors, Trustees, and Agents: A Practical Guide
If you are single, choosing who will act for you is not just a box to check, it is one of the most consequential decisions in your plan. Whereas married individuals often rely on a spouse in emergencies, single individuals do not have that default decision-maker. Strong documents matter, but people make...
Wisconsin Probate: What should an inventory in a probate in Wisconsin include?
In Wisconsin, a probate inventory must identify and value all property that is part of the decedent’s probate estate at the time of death. The requirement is governed by Wisconsin Statutes § 858.01 and functions as a full snapshot of the probate estate as of the date of death (or an allowed...
How to Choose a Fiduciary: The Questions That Matter
A comprehensive estate plan does more than direct who receives your property. It also sets out how your affairs will be managed during your lifetime and names the people who will act for you if you cannot act for yourself. Many of these decision-makers, such as trustees, personal representatives, and agents under...
Wisconsin Probate: In Wisconsin, which interested persons may be notified of the filing of the Inventory?
In Wisconsin, the estate inventory is not merely an internal working document; depending on the type of probate and whether anyone requests it, certain interested persons may be notified that it has been filed or that it is available for inspection. The governing provision is Wisconsin Statutes § 858.01, along with general...
Don’t Lose Your Points: Estate Planning for Loyalty Rewards
If cash is king and credit is queen, loyalty points are the wildcard most households forget to plan for. Airline miles, hotel points, cash-back balances, gift cards, and travel credits can represent real, spendable value, but they operate under very different legal rules than money in a bank account. Without a plan,...
Wisconsin Probate: In Wisconsin, does a Personal Representative need to file an Inventory in a probate?
Yes. In Wisconsin, a Personal Representative (PR) is generally required to prepare an inventory of the decedent’s probate estate assets and, in many cases, to file it with the court, with the governing statute being Wisconsin Statutes § 858.01. The PR must identify all probate assets owned at death, determine their fair...
Why “We’ll Figure It Out” Falls Apart in a Crisis
When a parent’s health crisis hits, families often discover that the “we’ll figure it out” approach unravels under pressure. Grief, fatigue, and old family dynamics can distort verbal understandings, and good intentions do not translate into the legal authority that hospitals, banks, and insurers require. Without a clear, written plan, state law...
Wisconsin Probate: In what situations do Personal Representatives in Wisconsin incur no liability to potential claimants?
In Wisconsin, a Personal Representative (PR) generally has limited personal liability because they act in a fiduciary capacity on behalf of the estate, not in their personal capacity. A PR is not personally liable when acting within statutory authority, following court orders or probate procedures, exercising reasonable care, skill, and prudence, and...