Is Probate Necessary in Milwaukee, Wisconsin?

Question from angie, Is Probate Necessary in Milwaukee, Wisconsin?

Answer from AI:

When a loved one passes away, their estate often goes through a legal process known as probate. Probate is the court-supervised process of gathering the deceased person’s assets, paying debts and taxes, and distributing what’s left to heirs. In Milwaukee, Wisconsin, whether you need to go through probate depends on several factors, including the type and value of the assets the deceased person left behind.

Understanding Probate in Wisconsin

In Wisconsin, probate is generally required if the deceased person owned assets in their name alone that do not have a designated beneficiary. Common examples include a house, a car, and a bank account, as mentioned in your situation.

Real Estate

If your mom owned a house in her name alone, probate is likely necessary to transfer the property to the beneficiaries legally. Wisconsin law provides a process for transferring property upon someone’s death, but it typically requires a probate proceeding.

Vehicles

For a car, Wisconsin has a process that allows for the transfer of vehicles without probate if the value of all vehicles owned by the deceased does not exceed a certain amount. However, if the value is above that threshold, or if there are other complicating factors, probate may be required.

Bank Accounts

As for bank accounts, if the account was solely in your mom’s name without a payable-on-death (POD) beneficiary or did not have a co-owner, probate is usually necessary to access the funds.

Small Estates in Wisconsin

Wisconsin law provides for a simplified process for small estates. If the total value of the estate subject to probate (excluding certain assets like those with beneficiary designations) is $50,000 or less, you may be able to use an affidavit to collect the property without going through formal probate.

Non-Probate Assets

It’s important to note that not all assets require probate. Some assets pass outside of probate directly to beneficiaries, such as:

• Life insurance policies with named beneficiaries
• Retirement accounts with named beneficiaries
• Property held in joint tenancy or with survivorship rights
• Bank accounts with POD or transfer-on-death (TOD) designations

When to Seek Legal Advice

Determining whether probate is necessary can be complex, and it often depends on the specifics of the estate. It’s advisable to consult with a probate attorney for personalized advice. An attorney can help you understand the probate process, identify whether an affidavit procedure is available for a small estate, or assist with transferring assets outside of probate.

Steps to Take

If you determine that probate is necessary, here are some typical steps you might take:

1. Locate the will, if one exists.
2. File a petition with the Milwaukee County probate court to open the estate.
3. Notify heirs and creditors about the probate proceeding.
4. Inventory the deceased person’s assets and manage them during the probate process.
5. Pay the deceased person’s debts and taxes.
6. Distribute the remaining assets to the beneficiaries.
7. Close the estate formally with the court.

For more information on the probate process in Wisconsin, you can visit the Wisconsin Court System’s probate page.

Conclusion

In summary, whether you need to do a probate in Milwaukee, Wisconsin, depends on the details of your mom’s estate. If she owned significant assets in her name alone, probate is likely necessary. However, for smaller estates or if assets have designated beneficiaries, probate may not be required. It’s essential to get legal advice to navigate this process correctly.