Waukesha County Probate Lawyers

Lightening the Burden After a Loss

Going through probate can be difficult and stressful after losing a loved one. At The Law Offices of Mark S. Knutson, S.C., our attorneys can help you navigate the probate and trust administration processes and respect the last wishes of your loved one.

Our firm proudly serves clients in Waukesha, Milwaukee, Ozaukee and Washington counties from our office in Brookfield. Call (262) 205-0705 to schedule an extended consultation.

The Probate Process in Wisconsin

Probate is the legal process of administering a deceased person's estate. It involves validating their will (if there is one), settling debts and taxes, and distributing assets to beneficiaries. This process is overseen by a court and ensures that the deceased person's financial and legal affairs are properly handled.

Here is an overview of the probate process in WI:

1. Filing a Petition – A request is made to the probate court to open the estate and appoint an executor (if named in the will) or an administrator (if there’s no will).
2. Notifying Heirs and Creditors – The court notifies beneficiaries and creditors, giving them a chance to make claims.
3. Inventorying Assets – The executor compiles a list of the deceased’s assets, including property, bank accounts, investments, and personal belongings.
4. Paying Debts and Taxes – Outstanding debts and any required taxes must be settled before distributing the remaining estate.
5. Distributing Assets – Once debts are cleared, the remaining assets are distributed according to the will (or state law if there’s no will).
6. Closing the Estate – The executor provides a final accounting to the court and requests to close the estate.

Many people try to navigate the probate process or administer a trust on their own. This can be confusing and unsettling. Fortunately, probate does not have to be as difficult as you may think, and a trust does not have to be an intimidating stack of papers.

Wisconsin has an extensive probate code detailing how an estate should be handled. We have decades of knowledge and experience to guide you through this unfamiliar process.

Does Every Estate Go Through Probate?

Not necessarily. Here's how you can avoid probate:

• Create a Living Trust: A revocable living trust allows you to transfer assets into the trust while you're alive, with a named successor trustee to manage them after your death. Since the trust owns the assets, they bypass probate and go directly to beneficiaries.
• Joint Ownership with Right of Survivorship: If you co-own property with right of survivorship, the asset automatically transfers to the surviving owner when one owner dies. This avoids probate and ensures a seamless transition of ownership.
• Designate Beneficiaries on Accounts: You can name beneficiaries on financial accounts, such as bank accounts, retirement funds, and life insurance policies. Upon your death, these assets transfer directly to the named beneficiaries without probate.
• Gifting Assets Before Death: Giving away assets while you're alive reduces the size of your estate and prevents those assets from going through probate. However, large gifts may be subject to gift tax limits.
• Use Small Estate Probate Exemptions: Many states offer simplified probate procedures for small estates below a certain value threshold. This allows heirs to claim assets with minimal court involvement.

What is Trust Administration?

Trust administration is the process of managing and distributing assets held in a trust after the trust creator (also called the grantor or settlor) has passed away or become incapacitated. The person responsible for handling this process is the trustee, who must follow the trust’s terms while adhering to legal and fiduciary duties.

Key steps in trust administration include:

1. Reviewing the Trust – The trustee reads and understands the trust document to determine how assets should be distributed.
2. Notifying Beneficiaries & Creditors – Beneficiaries and relevant parties must be informed about the trust’s administration.
3. Inventorying & Managing Assets – The trustee identifies and secures trust assets, such as bank accounts, real estate, and investments.
4. Paying Debts, Taxes, & Expenses – Any outstanding debts, taxes, or final expenses of the deceased must be settled using trust assets.
5. Distributing Assets to Beneficiaries – After debts are paid, the trustee distributes assets to beneficiaries according to the trust’s terms.
6. Finalizing the Trust – Once all duties are completed, the trustee closes the trust and provides a final accounting if required.

Since trusts bypass probate, trust administration is usually faster and more private than traditional estate administration. Would you like details on specific trustee responsibilities?

Comprehensive Probate & Trust Administration Services

Losing a loved one is hard enough without the burden of going through the probate process or administering a trust as the successor trustee. With more than 40 years of legal experience, Attorney Mark S. Knutson and his knowledgeable legal team can help ease that burden by guiding you through the process and advising you as to how to administer a trust.

Our probate attorneys in Waukesha County help beneficiaries get the information and assets they are entitled to. We help our clients reach peaceful resolutions out of court, where possible. But we are forceful advocates in court, when necessary, to ensure you are treated fairly.

Our probate and trust services include:

• All forms of probate administration
• Identifying, locating, and collecting estate assets
• Representing family members through probate disagreements
• Contesting and enforcing estate planning documents
• Counseling trustees about their responsibilities

Contact us online today or call (262) 205-0705 to learn how we can help you in the probate process.