This is a Petition for Administration, to be used in the State of Wisconsin. This document is used to initiate the formal adminstration of an estate.
Wisconsin Petition for Administration
Category:
State:
Wisconsin
Control #:
WI-PR-1901
Format:
Word;
PDF;
Rich Text
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Description
How to fill out Wisconsin Petition For Administration?
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FAQ
Probate is required when an estate's assets are solely in the deceased's name. In most cases, if the deceased owned property that had no other names attached, an estate must go through probate in order to transfer the property into the name(s) of any beneficiaries.
How to Avoid Probate in Wisconsin: A Will is not the Answer. There is a common misconception that having a will allows you to avoid probate. This is not correct. Having a will has no effect on whether or not your estate will go through probate.
Probate is used to distribute a decedent's assets not only to beneficiaries but also to creditors and taxing authorities. Any Wisconsin estate that exceeds $50,000 in value must go through the probate process unless the property is subject to certain exemptions.
(NHJB-2145-P) Form use. This form is used to ask the court to appoint an executor or administrator for a deceased's estate.
Probate is unnecessary if the property solely owned by the decedent totals less than $50,000 in value. Then all that's required to transfer property is completing a "transfer by affidavit" form. Also exempt from probate is property titled in joint ownership, which automatically passes to the surviving owner.
The appointment of a special administrator is a special, temporary situation where a person is appointed to do the limited tasks of checking into a decedent's assets, accounting the assets, marshaling the assets, protecting the assets, and/or acting as a real party in interest in lawsuits involving the estate.
In Wisconsin, you can make a living trust to avoid probate for virtually any asset you own -- real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).