In Wisconsin, a probate case may be opened by a variety of people who have a legally recognized interest in the decedent’s estate, under the framework of Wisconsin Statutes Chapter 865. A petition for probate or administration may be filed by persons named in the will—specifically, the individual nominated as personal representative...
Category: Estate Planning
Wisconsin Estate Planning FAQ’s: The Benefits of a Revocable Living Trust
A revocable living trust is a flexible, practical way to keep your affairs out of court, reduce administrative burdens, and maintain privacy. When properly prepared and funded, a living trust lets your chosen trustee manage your assets during your lifetime if you become unable to do so, and then distribute them after...
Wisconsin Estate Planning: In Wisconsin, are persons in possession of a Will required to file it with the Court?
Yes. In Wisconsin, anyone who has possession of a decedent’s original will is required to deliver it to the probate court in the county where the decedent resided, or to a person who can properly submit it for probate (such as the nominated personal representative). This duty applies whether or not the...
Wisconsin Estate Planning FAQ’s: 4 Things a Living Trust Does Not Do
A revocable living trust is a powerful tool for avoiding probate, maintaining privacy, and streamlining administration, but it has limits. Four common misconceptions deserve a quick reality check:
It does not control medical decisions. A living trust handles financial affairs, it is not a living will...Wisconsin Estate Planning: In Wisconsin, are “no contest” provisions enforceable?
In Wisconsin, “no contest” clauses (in terrorem clauses) are not automatically enforceable to disinherit a beneficiary who brings a challenge in good faith. The governing statute, Wisconsin Statutes § 854.19, provides a probable cause exception: if the beneficiary had a reasonable basis in fact and law to bring the action, the clause...
Wisconsin Estate Planning FAQ’s: Common Misconceptions About Living Trusts
People hear a lot about living trusts from friends and the media, and myths can spread quickly. One common misconception is that a living trust is “too expensive.” While a well‑drafted trust may cost more upfront than a simple will, comparing only drafting fees misses the bigger picture. A will’s true cost...
Wisconsin Estate Planning: In Wisconsin, do adopted children have any rights to a decedent’s estate?
Yes. In Wisconsin, adopted children generally have the same inheritance rights as biological children in a decedent’s estate. Once a child is legally adopted, the child is treated as the child of the adoptive parents for inheritance purposes and has full rights to inherit from the adoptive parents both under a will...
Wisconsin Estate Planning FAQ’s: Why We Procrastinate About Estate Planning
Most people know they should get their estate planning done, yet many still put it off. Cost is a common concern, but delaying can be far more expensive. Without documents in place, incapacity can trigger a court‑supervised guardianship, and death will likely mean probate, both involve attorney’s fees, court costs, and delays...
Wisconsin Estate Planning: In Wisconsin, how are provisions for a former spouse in a Will handled upon divorce, and are there any exceptions to the general rule?
In Wisconsin, divorce has a direct, automatic effect on a will: the law generally treats a former spouse as if they predeceased the testator for inheritance purposes. This means provisions in favor of the former spouse are revoked by operation of law, and the controlling statute is Wisconsin Statutes § 853.11, which...
Wisconsin Estate Planning FAQ’s: Inherited IRA’s are NOT Protected From Creditors
Many families assume that an inherited IRA is shielded from creditors the same way a traditional retirement account is for its original owner. In 2014, however, the U.S. Supreme Court ruled in Clark v. Rameker that inherited IRAs are not considered “retirement funds” for bankruptcy purposes, meaning they can be reached by...