Disclaimer: This article is for educational purposes only and does not constitute legal advice.
Detailed Answer
Preparing key information and documents before a loved one’s death can significantly reduce delays and costs during Wisconsin probate. The probate process begins when someone files a petition with the county court. Gathering materials in advance helps the personal representative (also known as the executor) meet statutory requirements under Wisconsin law.
1. Personal Identifiers and Vital Records
- Certified death certificates: At least multiple originals for banks, insurers, and government agencies.
- Social Security number and birth certificate: To notify the Social Security Administration and close accounts.
- Marriage certificates or divorce decrees: To establish spousal rights or previous obligations.
2. Estate Planning Documents
- Last will and testament: Specifies asset distribution and appoints a personal representative (Wis. Stat. § 867.01).
- Revocable living trust: If applicable, to bypass probate for trust assets.
- Durable power of attorney and advance healthcare directive: For end-of-life decisions.
3. Financial Account Information
- Bank and investment account statements: Including account numbers and contact details for institutions.
- Retirement plan documents: 401(k), IRA statements, pension information.
- Life insurance policies and annuities: Policy numbers and beneficiary designations.
4. Real Estate and Tangible Assets
- Property deeds and mortgage statements: Legal descriptions and payoff amounts.
- Vehicle titles: Cars, boats, or recreational vehicles.
- Valuable personal property lists: Jewelry, collectibles, and appraisals.
5. Debts and Liabilities
- Credit card statements and loan agreements: For mortgages, auto loans, and personal debts.
- Utility bills and subscription services: To avoid ongoing charges.
6. Tax Records
- Recent federal and state income tax returns: At least three years of filings.
- Property tax statements: For all real estate holdings.
How These Documents Streamline Probate
Having organized documents lets the personal representative file a complete probate petition. Under Wis. Stat. § 859.01, a detailed petition with asset schedules prevents requests for additional information. After appointment per Wis. Stat. § 867.02, the representative can quickly collect, value, and distribute assets.
Helpful Hints
- Create a central digital folder or binder for all estate documents.
- Inform family members or the designated representative of document locations and passwords.
- Review and update beneficiary designations on retirement accounts and insurance policies regularly.
- Keep originals of wills and trust documents with the attorney or in a safe deposit box with access instructions.
- Obtain professional valuations for unique or high-value assets before death to reduce appraisal delays.
- Consult with an estate planning attorney to confirm all documents meet Wisconsin legal requirements and reflect current wishes.