Krause Estate Planning & Elder Law Center is a trusted law firm dedicated to providing comprehensive estate planning and elder law services in Wisconsin. With years of experience, our team is committed to helping clients create effective wills and plans that protect their assets and ensure their wishes are honored. Contact us today to speak with an estate planning lawyer about drafting a new will or making changes to an existing will.

The Definition of a Valid Will According to Wisconsin Law

Under Wisconsin law, a valid will is a written document in which a person, known as the testator, expresses their wishes regarding the distribution of their property after death. To be legally valid, the will must be signed and dated by the testator in the presence of at least two disinterested witnesses – individuals who do not stand to benefit from the will, meaning not the surviving spouse or any other family members who will benefit from the distribution of the entire estate.

Additionally, the testator must have the legal capacity to create a last will and testament, meaning they are at least 18 years old (or emancipated) and possess the mental competency to understand the nature of their estate and the effect of their decisions. These requirements help ensure the will reflects the true intentions of the testator and is free from fraud or undue influence, making it enforceable in Wisconsin courts.

When Should You Name a Personal Representative for Your Estate?

You should specify a personal representative for your estate when creating or updating your will as part of your overall estate plan. Designating this individual early ensures that someone you trust will be legally authorized to manage your estate, handle financial affairs, pay debts and taxes, and distribute assets according to your wishes after your passing. Naming a personal representative ahead of time helps avoid delays and potential disputes during the probate process, providing peace of mind that your estate will be administered smoothly and in alignment with your intentions.

If you do not name a personal representative in your will, the probate court will appoint someone to serve in that role. Typically, the court selects a close family member or another interested party who is qualified and willing to act. This court-appointed personal representative will have the same duties and responsibilities as one you would have chosen, but the process may take longer and could lead to conflicts or delays in administering the estate. Naming a personal representative in your will helps ensure your preferred person manages your estate and can simplify the probate process.

Common Mistakes in Drafting a Will

When drafting a will, several common mistakes can complicate the probate process and potentially lead to disputes or delays in estate administration. One frequent error is failing to clearly distinguish between personal property and marital property, which can cause confusion over what assets are subject to distribution under the will versus what passes outside of probate. Another mistake is not properly addressing how electronic wills are to be handled, as Wisconsin has specific rules regarding their validity and acceptance by probate court.

Additionally, some testators overlook the importance of updating their wills to reflect changes in their circumstances, such as marriage, divorce, newly born minor children, or the acquisition of new assets, which can result in unintended distributions based on an old will. Ambiguities or vague language in the will can also prompt probate court challenges, prolonging the estate settlement and increasing costs.

To avoid these pitfalls, it’s essential to work with an experienced estate planning attorney who understands how to draft clear, legally sound wills that comply with state laws and minimize complications during the probate process.

Updating and Amending Wills

A will is a crucial legal document that reflects your wishes for the distribution of your estate after your passing. However, life circumstances and laws can change over time, making it essential to periodically review and update your will to ensure it remains accurate and effective. Updating or amending a will helps prevent confusion, disputes, and unintended outcomes during the probate process.

When to Update Your Will

There are several key life events and situations that should prompt you to review and possibly update your will:

Major Life Changes: Events such as marriage, divorce, the birth or adoption of children, or the death of a beneficiary or executor often require updates to your will to reflect your current family situation and intentions.

Significant Financial Changes: Acquiring or selling substantial assets, changes in property ownership, or shifts in your financial status may necessitate adjustments to how your estate is distributed.

Relocation: Moving to a new state can impact the validity or interpretation of your will due to differing state laws, so reviewing your will with a local attorney is advisable.

Changes in Relationships: If your relationship with a beneficiary or executor changes, such as estrangement or reconciliation, it is important to update your will accordingly.

Legal and Tax Law Changes: Changes in estate tax laws or other relevant legislation may affect your estate plan, making updates necessary to optimize tax benefits and compliance.

How to Update or Amend Your Will

There are two primary methods for updating a will:

Codicil: A codicil is a legal document that amends specific provisions of an existing will without replacing the entire document. It must be signed and witnessed with the same formalities as the original will. Codicils are useful for minor changes, such as updating a beneficiary or changing an executor, but multiple codicils can become confusing and should be used sparingly.

Creating a New Will: For substantial or numerous changes, drafting a new will is often the safest and clearest option. The new will should explicitly revoke all prior wills and codicils to avoid conflicts. This approach ensures that your entire estate plan is cohesive and up to date.

Professional Guidance

Working with an experienced estate planning attorney at Krause Estate Planning & Elder Law Center is highly recommended when updating or amending your will. Our attorneys can ensure that changes comply with state laws, properly reflect your wishes, and avoid unintended consequences. We can also advise on how updates may affect related documents like trusts, powers of attorney, and living wills.

Regularly revisiting your will and estate plan is a vital step in protecting your legacy and providing peace of mind for you and your loved ones. Keeping your will current helps ensure your estate is managed and distributed exactly as you intend.

The Role of an Estate Planning Attorney

An attorney plays a vital role in ensuring the validity and effectiveness of a will, guiding clients through the complex legal requirements to help avoid common pitfalls. Beyond drafting the will, an attorney can assist in appointing a trusted personal representative who will be responsible for managing the estate of the deceased person. They can also help designate a legal guardian for minor children, ensuring that their care is clearly outlined according to the testator’s wishes.

In addition to wills, an attorney can advise on related documents such as living wills and powers of attorney, which are essential for managing financial affairs and healthcare decisions if the individual becomes incapacitated. By working with an experienced attorney, clients can have confidence that their estate plan is comprehensive, legally sound, and tailored to protect their interests and those of their loved ones.

Contact us today for experienced, professional guidance regarding creating or adjusting your will.