Your life’s sunrise is God’s unmerited gift, but its sunset is a must—we shall all die, and sadly when we don’t want to. Fortunately, you don’t need to live anxiously because of what could happen to your assets or heirs after your death. Instead, you can draft a Wisconsin last will and testament to help you exit this world, knowing that your estate safely remains in your intended beneficiaries’ hands.
But how do you prepare such a legal document without legal expertise and heavy legalese? Fortunately, you don’t need all that stuff to prepare your last will and testament. You can download our free will template today. So, don’t just leave a legacy; also leave the peace of mind for your family members by drafting your last will on time.
Consequences of Dying Without a Wisconsin Last Will and Testament
We have seen why you should draft a Wisconsin last will and testament. However, some people still die without any written will and testament to show how they intend to share their estate. What happens when such an unfortunate event occurs? What problems will you create for your family? Below are some of the avoidable consequences of dying without a written last will.
- You create loads of problems for your underage children if you and your spouse die without a written will. The reason is that they will grow without a guardian or guardians to assure them of their inheritance while pending the attaining of legal age.
- You risk throwing your business empire into uncertainty. The reason is that a last will creates a legally binding succession plan that ensures that your businesses remain within your family for generations.
- You risk losing your final say on who should inherit your estate after your death. The reason is that your last will gives you unquestionable final authority to determine who gets what and in what measure. Therefore, you end all disputes regarding your estate after your demise.
- You could leave your dependent loved ones with special needs in big economic problems. The reason is that your last will lets you arrange for their upkeep after your death. But without it, malicious family members can easily supplant them.
- You risk leaving behind confusion if you remarry or end up in a blended family. Why? Because it will create wrangles between your next of kin from the different marriages you have been through.
- You risk leaving your estate in anarchy should you and your spouse die, leaving minors behind. This sad situation means that you won’t have an executor to manage your estate. For instance, you will have nobody to pay off taxes, bills, and debts. Moreover, your assets won’t be distributed as per your wish.
- You have a narrower choice of beneficiaries. Why? Because the law will only allow your family members alone to inherit your estate. Thus, you may never pass on your wealth to the needy you wished to help outside your family cycles.
Do you see what you could lose when you don’t have a Wisconsin last will and testament? It’s high time you didn’t just think about it; it’s time you acted on it by downloading and filling our free forms today. You don’t need to go through a raft of long “how-to” guides or legalese to draft it. Instead, you only have to fill in the blank spaces with the relevant information, that’s all!
What are the intestacy laws in Wisconsin? These are laws the state invokes when you die without a Wisconsin last will and testament. When this condition arises, the state allows the following to happen:
- Your surviving spouse inherits your entire estate even when you sired children with them. But if you had children from a different marriage, your surviving spouse inherits half the (separate) property, while your kids inherit the remaining. However, your children will inherit all your community property.
- The law allows your siblings and/or grandparents to inherit your estate if you die without a surviving spouse, children, and parents. The logic behind this law is to let your closest next of kin inherit your estate in their closeness and importance’s order.
What Validates a Last Will in Wisconsin
The law requires all executors to present the last will before a probate court for validation before managing it. This kind of court undertakes a process that oversees the distribution of the deceased’s assets. In Wisconsin, the court could be special, formal, or informal. In special probate processes, the size of property for distribution is usually smaller, including affidavits. Formal processes include the court’s direct monitoring, while the informal ones don’t need court supervision.
Requirements for Court Approval
A last will and testament in Wisconsin should meet the following requirements, code section 853.01, et seq. contains.
- The testator (writer) should be a sane adult aged 18 years and above.
- The testator should sign it or allocate a trusted confidant to do it in their presence and before two or three witnesses who aren’t beneficiaries.
- The will must list its beneficiaries and how much they will inherit.
Alterations to the Will
The law allows you to change it any moment you wish, using a codicil to be executed in the same manner as the initial one.
You can revoke a last will and testament by destroying it through fire or tearing. Also, you can execute a subsequent Wisconsin last will and testament.
All of us must prepare some things before our unknown departure. This requirement becomes more pronounced when you are privileged with some assets and beloved inheritors lining up after your death. Preparing your last will and testament in Wisconsin is not a special legal prerogative to which only a few “learned friends” are entitled. You can also download our forms and draft yours today.