Category Archives: Probate

ESTATE PLANNING FOR DIGITAL PROPERTY

Most of us, to some extent, live in a very digital world. We communicate by email or text. We socialize online, seek our entertainment online, manage our assets and finances online, store our photos, music, and other digital property. . .online.  From our health care, to our home security, we are ever increasingly being pulled into the matrix.

But what happens to all of our digital property if we become incapacitated, or when we die? Most people don’t plan for these events. That lack of planning can cause unexpected consequences for the loved ones who are left dealing with our affairs. Continue reading →

Estate Planning Avoids Ancillary Probate for Vacation Homes

Do you own a second home or vacation property? Is it located in a state other than the state in which you live? Without the proper planning, dealing with the home or property upon your death can become a very expensive matter.

Ancillary Probate

Often times, a probate proceeding is required in order to deal with the disposition of real estate and other assets upon a person’s death. If the deceased person owned real estate in more than one state, a probate proceeding may be required in each state where such properties are located. Often times, a probate must be started in a person’s home state, (where he or she resided), and an additional probate proceeding, known as an ancillary probate, must be started in each of the other states where the person owned real estate. This process can result in the need to hire an attorney in each state where a probate proceeding is required, potentially resulting in significant and unexpected legal fees and expenses. Continue reading →

How to Transfer Property Without Going Through Probate

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 →