In Wisconsin, a will can be revoked in several ways under Wisconsin Statutes § 853.11, and the law recognizes both intentional acts by the testator and certain legal events that automatically revoke all or part of a will. The most common method is revocation by a subsequent will or codicil: a later...
Category: Estate Planning
Wisconsin Estate Planning FAQ’s: 3 Succession Solutions for Family Farms
Passing a family farm to the next generation is rarely as simple as dividing assets. You have to preserve the land and equipment needed to run the operation while treating all children fairly—especially when some work the farm and others do not. Transfers may also trigger federal and state estate tax exposure,...
Wisconsin Estate Planning: In Wisconsin, can or should Wills be deposited with the Court after execution?
Yes. In Wisconsin, a will may be deposited with the probate court for safekeeping after it is executed, but it is not required. Wisconsin Statutes § 853.09 permits a testator to deposit an original will with the probate court in the county where the testator resides during the testator’s lifetime.
Wisconsin Estate Planning FAQ’s: Funding a Living Trust: How to Move Assets the Right Way
Signing a revocable living trust is only step one. To actually avoid probate and enable your successor trustee to act without court involvement, you must “fund” the trust. To “fund” means to align ownership and beneficiary designations with your plan so the trustee controls what the trust owns or what’s properly directed...
Wisconsin Estate Planning: In Wisconsin, what are the requirements to be a witness to a Will?
In Wisconsin, the qualifications for a witness to a will are set by Wisconsin Statutes § 853.07 and the execution requirements in § 853.03. A witness must be competent to testify in court at the time the will is executed, and later incompetency (for example, illness or incapacity occurring after the signing)...
Wisconsin Estate Planning FAQ’s: Protect Against Generation Skipping Tax
If some or all of your estate bypasses your children and passes directly to your grandchildren, your estate may owe a separate levy called the generation-skipping transfer (GST) tax. The GST tax is imposed in addition to any federal estate tax and is pegged to the highest federal estate tax rate in...
Wisconsin Estate Planning: In Wisconsin, what are the requirements to properly execute a Will?
In Wisconsin, a will must satisfy the statutory execution requirements in Wisconsin Statutes § 853.03 to be valid. The testator must be at least 18 years old and possess testamentary capacity—meaning they understand the nature and extent of their property, know the natural objects of their bounty, understand that they are making...
Wisconsin Estate Planning FAQ’s: Estate Planning for Your Adult Child
When a child turns 18, you lose the automatic legal authority to access their medical information or handle their finances, even in an emergency. One of the most practical gifts you can give a new adult is a basic estate planning package: a simple will or trust, a financial power of attorney,...
Wisconsin Probate: In Wisconsin, what is intestate succession?
In Wisconsin, intestate succession is the statutory process for distributing a decedent’s probate estate when there is no valid will, or when a will does not dispose of all probate property. The governing rules appear primarily in Wisconsin Statutes Chapter 852 and provide a default plan for who inherits if testamentary instructions...
Wisconsin Estate Planning FAQ’s: Understanding Living Trusts
A revocable living trust is a proven alternative to relying on a stand‑alone will and scattered beneficiary designations. While a will only takes effect after you die and must be validated by a probate court, a living trust can operate during your lifetime and after death, allowing the person you choose (your...