Wisconsin Probate Explained: Which Assets Go Through Probate and Which Assets Avoid It?
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Wisconsin Probate Explained: Which Assets Go Through Probate and Which Assets Avoid It?
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Episode Summary: In this episode of One Happy Lawyer: The Estate Planning Podcast, Attorney Dan Krause, founder of Krause Estate Planning And Elder Law Center, joins host Lisa Mosbey to explore the intricacies of probate in Wisconsin. They discuss which assets typically go through probate and which can bypass the process, emphasizing the importance of proper estate planning. Dan explains the significance of asset titling, the role of wills, and the potential surprises that can arise during probate, such as disputes over real estate and personal property. He also highlights the costs associated with probate and the responsibilities of a personal representative. Listeners will gain valuable insights into how to effectively manage their estate planning to avoid common pitfalls and ensure a smoother transition of assets.
Key Timestamps: 00:01 – Introduction 0:24 – Overview of Probate in Wisconsin 1:11 – Differences in Probate Across States 1:51 – Assets That Go Through Probate 3:15 – Importance of Real Estate Titling 5:29 – Survivorship Rules in Wisconsin 6:26 – Assets That Pass Outside of Probate 7:26 – Costs of Probate in Wisconsin 9:55 – Role of a Will in Probate 12:53 – Common Probate Surprises 15:30 – Challenges of Digital Asset Discovery 16:25 – Reviewing Your Own Estate Plan 18:15 – Bank Account Titling and Survivorship 19:11 – Risks of Being a Personal Representative
About the Show: One Happy Lawyer: The Estate Planning Podcast is a podcast dedicated to demystifying estate planning and elder law for individuals and families. Hosted by experienced attorney Dan Krause, the show covers a wide range of topics, from probate and asset protection to wills and trusts. With a focus on practical advice and real-world examples, Dan aims to empower listeners to make informed decisions about their legal and financial futures. Whether you're planning for retirement, managing an estate, or simply curious about the legal landscape, One Happy Lawyer: The Estate Planning Podcast provides valuable insights in a clear and accessible format.