Wills are a very simple tool and often very inexpensive to set up initially. However, ALL assets passing through the Will will go through the probate process. The probate process in the State of Wisconsin usually takes 10 to 13 months and typically costs 3% to 5% of the gross value of assets. Therefore, a Will is often a very expensive option for administration of the estate.
There are many alternatives in the State of Wisconsin to pass assets to beneficiaries and bypass the delay and expenses associated with the probate process. However, in certain circumstances a Will may be the simplest and easiest tool to use. A free consultation can assist you in making that determination.