Q: Do I need probate if assets are in my name, wife deceased, in Wisconsin?
I'm located in Wisconsin. My wife has passed away and all our assets were primarily in my name, except for a joint checking account and some credit card accounts. She left a will stating that I am the sole beneficiary of her assets with distributions to our children if I am deceased. Given this, would I still need to go through probate?
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A:
I'm sorry to hear about your loss. In Wisconsin, whether probate is necessary depends on the nature and titling of your wife's assets. Since most assets were in your name, and only a joint checking account and some credit card accounts were held jointly, probate might not be required.
Jointly held assets with rights of survivorship, like your joint checking account, typically pass directly to the surviving owner without probate. However, assets solely in your wife's name without designated beneficiaries may need to go through probate. Wisconsin offers a simplified procedure called "Transfer by Affidavit" for estates valued at $50,000 or less, which can bypass formal probate.
Given that your wife's will names you as the sole beneficiary, and assuming there are no significant assets solely in her name, you may not need to initiate probate. However, it's essential to review all assets to determine if any require probate for transfer. Consulting with a legal professional can provide clarity based on the specific details of your situation.
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