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...
Category: Inheritance
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...
Wisconsin Estate Planning: In Wisconsin, what does “per stirpes” mean?
In Wisconsin, “per stirpes” is a method of distributing an estate in which a deceased beneficiary’s share passes down that beneficiary’s lineal descendants—children, grandchildren, and so on—rather than being redistributed among all surviving members of the same generation. Literally meaning “by branch,” per stirpes ensures each family branch receives an equal share:...
Wisconsin Estate Planning: In Wisconsin, can a beneficiary disclaim their interest in an inheritance and if so what are the requirements?
Yes. In Wisconsin, a beneficiary may disclaim (refuse) an inheritance, and if the disclaimer is done properly, the law treats the person as though they predeceased the decedent with respect to the disclaimed property. This right applies to beneficiaries under a will, heirs under intestate succession, persons named in a trust, and,...
Wisconsin Estate Planning: How do I shield an Inheritance from divorce, debt, and lawsuits in Wisconsin?
In Wisconsin, an inheritance is generally treated as separate property, which gives it strong protection by default. Whether it stays protected, however, depends largely on what you do after you receive it. The law typically treats inheritances and third‑party gifts as individual property rather than marital property, but they can lose that...
Wisconsin Estate Planning: How do you protect biological heirs in a blended family in Wisconsin?
Protecting biological heirs in a Wisconsin blended family is less about “cutting out” a spouse and more about balancing two competing goals: providing for the surviving spouse and ensuring children from prior relationships ultimately receive their intended inheritance. Without careful planning, Wisconsin’s default rules and common estate tools can unintentionally favor one...
Wisconsin Probate: When can an Estate be Closed in Wisconsin?
An estate in Wisconsin can be closed once the personal representative has finished the core tasks the probate court expects: identify all probate assets, complete the inventory, run the creditor process, pay valid debts and expenses, handle all required tax filings, locate beneficiaries, make distributions, and prepare closing papers for the court....
The Family Meeting and Estate Planning
For some people, the term family meeting may not bring to mind a pleasant gathering where everyone shares fond memories and warm feelings. When someone says, “We need to talk,” it often implies that something is wrong or that tough decisions need to be made or discussed.
However, in...
Citizenship and Estate Planning
Noncitizen spouses are treated differently than US citizen spouses for estate and gift tax purposes.[1]
They do not get the unlimited marital deduction. Married US citizen spouses can generally transfer unlimited amounts of money between each other during life or upon death in various qualifying ways without...
Foster Children and Estate Planning
A foster child may come into your life through the court system, an agency, or your own extended family. However it begins, the relationship can grow into something deeply personal, with the unshakable feeling that this child is yours.
However, the law does not always see the relationship that...