Key Steps for Properly Executing a Will in Wisconsin

Executing a will properly in Wisconsin is essential to ensure that your final wishes are honored and that your estate is distributed according to your desires. Proper execution helps minimize disputes among heirs and ensures the will is legally valid. Below are the key steps to properly executing a will in Wisconsin.

1. Understand the Legal Requirements

The first step in executing a will is to familiarize yourself with Wisconsin’s legal requirements. Wisconsin law requires that a will must be in writing and signed by the testator (the person creating the will). It's also essential that the will is signed in the presence of at least two witnesses who are at least 18 years old and not beneficiaries of the will.

2. Choose the Right Type of Will

There are various types of wills you can create in Wisconsin, including holographic wills (handwritten) and formal wills. A formal will typically follows specific statutory guidelines and is usually typed. To ensure it holds up in court, many individuals opt for a formal will that is signed by witnesses.

3. Clearly Identify Your Assets

When drafting your will, it is crucial to clearly identify the assets you wish to distribute. This can include real estate, bank accounts, personal property, and investments. Be specific about who will inherit which assets, as vague language can lead to confusion and disputes among heirs.

4. Select an Executor

Choosing the right executor for your estate is a fundamental step. The executor is responsible for managing your estate, ensuring your wishes are followed, and settling any debts. Consider someone who is trustworthy, organized, and willing to take on this significant responsibility.

5. Review and Update Your Will

Your will should not be a static document; it requires regular review and updates especially after major life events such as marriages, divorces, births, or deaths. Establishing a routine to review your will every few years can help ensure it remains in line with your current wishes and circumstances.

6. Store Your Will Safely

Once your will is executed, it is important to store it in a safe yet accessible location. Common options for storage include a safe deposit box, personal safe, or with your attorney. Inform your executor and close family members about its location to ensure they can access it when necessary.

7. Consider Consulting an Attorney

While creating a will can be straightforward, consulting with an estate planning attorney can be invaluable. An attorney can provide guidance on the intricacies of your wishes, help navigate tax implications, and ensure your will complies with all legal requirements in Wisconsin.

Executing a will properly in Wisconsin involves careful planning and attention to legalities. By following these key steps, you can ensure your estate is handled according to your wishes and minimize the chance of disputes among your loved ones.