Estate Planning in Wisconsin

What it means in Wisconsin:
Estate planning in Wisconsin focuses on transferring assets efficiently, reducing probate involvement, and protecting family members under Wisconsin law.

Key points:

• Governed by Wisconsin statutes
• Applies to individuals at all asset levels
• Proper planning can reduce or avoid probate

Common estate planning tools in Wisconsin:

• Wills
• Revocable living trusts
• Transfer on Death (TOD) deeds
• Powers of attorney
• Advance healthcare directives

Wisconsin-specific considerations:

• Transfer on Death (TOD) Deeds
  • Wisconsin recognizes TOD deeds for real estate
  • TOD deeds allow property to pass directly to beneficiaries outside of probate
  • The deed must be properly executed and recorded before death
• Marital Property System
• Wisconsin is a marital property state, which can affect asset ownership and estate distribution
• Wisconsin does not impose a state estate tax
• TOD deeds, trusts, and marital property agreements are commonly used
• State Taxes
• Probate Avoidance

Whom it applies to:

• Wisconsin residents planning for incapacity or death

Married couples and property owners