How To Avoid Probate

By Schmidt Law Frim

It is really quite simple: You die “broke!"  Or more precisely, your estate is empty when you die.

Probate is the administration of your estate.  The key is to leave nothing in your estate at the time of your death.   If there aren’t any “probate-able assets” in your estate, it is empty!   There is nothing to probate!  Now, how to do this ---

So you have worked hard all your life and have accumulated a nice nest egg. In fact, you may even have some money or property left over to give away to family, friends or charity. To die broke does not necessarily mean you are living in a box under the bridge. It just means that upon your death ALL of your financial affairs have been dealt with in a way that leaves you “broke” at the moment of your death.  Your estate is empty!

OK, How Do I Become “Broke?"

You do this by:

(1) Divesting: giving away for no or low market value,

(2) Designating a beneficiary to your property, or

(3) Selling everything [converting the nature of your property] you have before you die.

When you visit Schmidt & Schmidt S.C. to work with the experienced probate attorneys in Wausau, WI, you can have a plan drawn up that will deal with Divestments [giving property away], selling/spending and other Beneficiary Designations [deciding who will get certain property upon your death] in a way that allows you to keep possession of your home, bank and brokerage accounts, retirement plans as well as insurance and annuity plans.

Please call us at 715-845-9621 to schedule an appointment.  Check out our web page at www.schmidtlawfirm.com or stop by our office at 123 Grand Avenue, Wausau, WI.