Yes. In Wisconsin, a surviving spouse generally retains their own one‑half interest in marital property at the other spouse’s death. Wisconsin is a marital property state in which each spouse is generally considered to own an undivided 50% interest in marital assets during the marriage; that ownership structure does not change at...
Category: Marital Property
Wisconsin Estate Planning: Should Newly Married Couples Combine their Estate Plans in Wisconsin?
Newly married couples in Wisconsin should coordinate their estate plans closely—but not automatically merge them into a single, identical plan on day one. Marriage creates shared legal and financial interests, yet each spouse still has individual property rights and a separate legal identity. Wisconsin’s marital‑property rules also affect default inheritance if one...
Wisconsin Estate Planning: What are Estate Planning Issues that a Blended Family Faces in Wisconsin?
Blended families in Wisconsin face some of the most complicated estate-planning challenges because the law does not automatically align with emotional expectations. When “yours, mine, and ours” families mix, the biggest issues usually involve who inherits what, when they inherit it, and who controls assets in the meantime.
Conflicts...
Why Title of Real Estate Matters in Madison, Wisconsin
Real estate can be owned in several different ways. The form of ownership, or how your property is titled, can determine how much control you have over it, how vulnerable your property is to creditor claims and lawsuits, and what will happen to it at your death.
Individual Ownership
Caution: Writing Your Own Deed in Wisconsin to Avoid Probate Can Lead to Costly Unintended Consequences
One goal of estate planning is to ensure that your assets, including your home, pass to your chosen beneficiaries quickly and with minimal expense. In real estate, a common strategy to avoid probate (the court process of validating a will and distributing assets) is to add others to the title.
Buying a Home with Someone Other than a Spouse
Rising housing costs, the desire for companionship, and the need to share resources are increasingly leading buyers to consider co-owning a home with someone other than a spouse, such as a friend, relative, or significant other.
Although this arrangement can be beneficial on several levels, it should be approached...
Joint Property in Estate Planning
People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the property without it having to go through probate....
Qualified Domestic Trusts (QDOT’s) and Protecting a Noncitizen Spouse
Married couples love each other and want the best for each other. Establishing a comprehensive estate plan is one way to provide the best for each other. Not only does an estate plan protect you when you are unable to care for yourself during your lifetime, but it also protects your hard-earned...
Keeping Your Child’s Inheritance Out of Your In-Law’s Hands
About 40 to 50 percent of all marriages in the United States end in divorce. Regardless of how you feel about your child’s spouse, you must face the possibility that they could become your child’s ex-spouse. Should that day come, the money you leave to your child could be subject to a...