Probate
Probate is a court-supervised process for settling estates. In Wisconsin, probate is necessary when a decedent leaves solely titled assets with no beneficiary with a value in excess of $50,000.
Understanding Probate
Although all probates are different, all probates follow the same basic steps. They are:
Get appointed. Before anything can be done to settle a probate estate, the court must appoint a personal representative with legal authority to act.
Get started. Once a personal representative is appointed, they must take care of some key tasks that must be done first. These vary but include things like setting up a checking account for the estate, securing real estate, and checking on property insurance.
Manage assets. This work varies, and includes all work to wrap up the decedent’s financial affairs. It typically includes closing bank accounts, dealing with real estate, personal property, and vehicles, dealing with any creditors or claims, and filing any necessary individual tax returns.
Close the estate. This work is mostly our responsibility, and includes preparing financial reports for the estate, handling tax reporting for the estate, making final distributions to beneficiaries, and ensuring that all necessary paperwork is filed with the court.
Probate Process
Our probate process is the product of years of work with personal representatives in estates of all sizes and complexity levels.
All of our work starts with a consultation with the named personal representative (or, if there is no will, the personal representative chosen by the family) to discuss the situation and understand the work that must be done. The goal is to work out a tentative plan for the estate, understanding that plans can change and unexpected issues are always possible.
From there, we prepare all necessary court filings, provide written guidance and a task list, and provide regular follow ups until the work is done. When the estate is ready to close, we prepare the books and all necessary court filings, make sure the beneficiaries receive their funds, and arrange for necessary tax filings.
Probate can be a difficult process. Our goal is to make it as straightforward as it can be.
Getting Started
Our probate work starts with an initial consultation with an experienced probate attorney. During that meeting, we discuss the situation and work to create a full list of issues and work out an approach to each. We also provide an estimate of timelines and likely fees or, in some cases, a flat fee quote.
To get started, please call to set an appointment or request a phone call. We look forward to working with you.