It is very important for individuals and couples to keep in mind what their wills or trusts can and cannot do, in terms of directing the distribution of their estates after they die.  In particular, it is important for them to keep in mind what assets they own that will not be governed by the provisions of their wills or trusts.

Under Wisconsin law, property, typically real property (i.e., your home or lake house if you are so lucky), owned  in joint tenancy or as survivorship marital property, will not pass as specified under your will or trust, but will instead pass to the other joint tenant(s) or to your spouse on your death.  If it is important that your will or trust direct some other distribution of the property, then the form of ownership of the property itself will need to be changed.  The right approach for addressing this issue may vary depending upon your circumstances.

[Legal advice not only involves an understanding of the law, but the application of the law to a particular set of circumstances or facts.  Typically blog posts are imperfect tools to address the subtlety and exceptions of the law that may apply in particular situations.  As a result, the information in this blog post does not represent legal advice.  If you are in a situation where you need or desire legal advice, we would be happy to help.  Check out our Contact Us page, and feel free to set-up a no-charge initial consultation.]