Skip to content

Updated Will Guide: Essential Information for All Family Structures

Comprehensive guide to updating your will for blended families, same-sex couples, parents, and individuals with significant assets. Learn why an updated will is crucial for protecting your loved ones and assets.

Introduction

An updated will is one of the most important legal documents you can create to protect your family and assets. This legal instrument ensures your wishes are carried out after your passing, providing clear instructions about how your property should be distributed, who will care for minor children, and how your affairs should be managed. Without an updated will, state laws determine what happens to your assets and dependents, which may not align with your intentions. This guide explains the importance of keeping your will current, especially for blended families, same-sex couples, parents with minor children, and individuals with significant assets. Understanding the basics of an updated will can help you make informed decisions to protect your loved ones and provide peace of mind for your family's future.

0/5000

Key Things to Know

  1. 1

    Without an updated will, state intestacy laws determine how your assets are distributed, which may not align with your wishes for your family members.

  2. 2

    For blended families, an updated will is essential to ensure all children (biological and step-children) are provided for according to your intentions.

  3. 3

    Same-sex couples benefit from the legal protections an updated will provides, especially in regions where legal recognition may be evolving.

  4. 4

    Naming guardians for minor children is one of the most important functions of a will for parents.

  5. 5

    Your will should be reviewed and potentially updated after every major life event (marriage, divorce, birth of children, significant asset acquisition).

  6. 6

    For those with significant assets, an updated will should work in conjunction with trusts and other estate planning tools to minimize taxes and maximize asset protection.

  7. 7

    Digital assets, pets, and sentimental items should be specifically addressed in your updated will to avoid confusion or conflict.

  8. 8

    Working with an estate planning attorney familiar with your specific family structure is highly recommended to ensure your will accomplishes your goals.

Key decisions before you file

Before you file a Updated Will in Wisconsin, a few decisions shape the document: which option to choose and what each one means. The Updated Will guide walks through them.

Open the Updated Will guide

Customize your Updated Will Template with DocDraft

Wisconsin Requirements for Updated Will

  • Testamentary Capacity (Wis. Stat. § 853.01)

    Under Wisconsin law, the testator must be at least 18 years old and of sound mind when executing a will, meaning they understand the nature and extent of their property, the natural objects of their bounty, and the disposition they are making.

  • Will Execution Requirements (Wis. Stat. § 853.03)

    A valid Wisconsin will must be in writing, signed by the testator (or by someone at the testator's direction and in their presence), and witnessed by at least two competent witnesses who also sign the will.

  • Self-Proved Will Provisions (Wis. Stat. § 853.04)

    Wisconsin allows for self-proved wills, which include an affidavit signed by the testator and witnesses before a notary public, simplifying the probate process by eliminating the need for witness testimony.

  • Holographic Wills (Wis. Stat. § 853.03)

    Wisconsin does not recognize holographic wills (handwritten wills without witnesses) unless they comply with the standard execution requirements for wills in the state.

  • Revocation of Prior Wills (Wis. Stat. § 853.11)

    An updated will should explicitly revoke all prior wills and codicils to avoid confusion and potential conflicts between multiple testamentary documents.

  • Marital Property Rights (Wis. Stat. § 766.31)

    Wisconsin is a marital property state, and a surviving spouse has rights to a portion of marital property regardless of the will's provisions. The updated will must acknowledge these rights.

  • Elective Share (Wis. Stat. § 861.02)

    A surviving spouse in Wisconsin may elect against the will to receive their share of marital property, which the will cannot override.

  • Guardian Designation for Minor Children (Wis. Stat. § 54.15)

    The will should name a guardian for minor children, though the court makes the final determination based on the best interests of the child.

  • Personal Representative Appointment (Wis. Stat. § 857.05)

    The will should designate a personal representative (executor) to administer the estate, with alternates in case the primary designee cannot serve.

  • No-Contest Clause (Wis. Stat. § 854.19)

    Wisconsin recognizes no-contest clauses (in terrorem clauses) that can disinherit beneficiaries who challenge the will, though courts may not enforce them if there is probable cause for the contest.

  • Simultaneous Death Provision (Wis. Stat. § 854.03)

    The will should address the distribution of assets in case the testator and beneficiary die simultaneously or in circumstances where it's difficult to determine who died first.

  • Digital Assets Provision (Wis. Stat. § 711.01-711.12)

    Wisconsin has adopted the Revised Uniform Fiduciary Access to Digital Assets Act, allowing testators to give executors authority to access and manage digital assets.

  • Tax Apportionment (Wis. Stat. § 701.0902)

    The will should specify how estate taxes will be apportioned among beneficiaries, as Wisconsin follows the Uniform Estate Tax Apportionment Act.

  • Rule Against Perpetuities (Wis. Stat. § 700.16)

    Wisconsin has modified the common law Rule Against Perpetuities, limiting the duration of certain trusts and property interests created in a will.

  • Ademption Provisions (Wis. Stat. § 854.08)

    The will should address what happens if specifically bequeathed property is no longer owned by the testator at death (ademption by extinction).

  • Federal Estate Tax Considerations (26 U.S.C. § 2001-2210)

    The will should consider federal estate tax implications for estates exceeding the federal exemption amount, including potential marital deductions and portability provisions.

  • Generation-Skipping Transfer Tax (26 U.S.C. § 2601-2663)

    For larger estates, the will should address generation-skipping transfer tax issues if assets are being transferred to grandchildren or more remote descendants.

  • Special Needs Trust Provisions (42 U.S.C. § 1396p(d)(4)(A))

    If beneficiaries receive government benefits, the will should consider establishing a special needs trust to preserve eligibility for those benefits while providing supplemental support.

  • HIPAA Authorization (45 C.F.R. § 164.508)

    The will or accompanying documents should include HIPAA authorization allowing the personal representative to access medical records necessary for estate administration.

  • Residuary Clause (Wis. Stat. § 853.27)

    The will must include a residuary clause that disposes of all property not specifically bequeathed elsewhere in the will to avoid partial intestacy.

Frequently Asked Questions