Wisconsin is one of several states that allow an individual’s assets to transfer to his or her heirs without going through an often lengthy and expensive probate procedure. This process, known as “Transfer by Affidavit,” is a potential alternative-to-probate option when the assets in the estate equal $50,000 or less.
An heir, a trustee of the decedent’s revocable trust or a legal guardian of the decedent may initiate this process upon the death of the decedent. But certain legal obligations to the estate do exist even through this seemingly-informal process. Because this streamlined, informal approach may not be appropriate in all situations, an experienced estate and probate attorney can assist in determining when to use this process. Continue reading