I often find that several of my clients have similar questions, so I've put together these Frequently Asked Questions and answers for your reference. If you have questions about your specific situation, and would like to know how I can help, do not hesitate to contact me.
Why do I need a Will?
In the State of Wisconsin, if you die without a Will, the intestate succession laws apply. You may not want all of your possessions to be divided equally among your family members. You may want specific items given to special individuals. Also, the Court will choose a personal representative to administer your estate and it may not be the person you would have chosen. The Court will also choose either a guardian ad litem or a general guardian for your children who you may not want. By executing a Will, you are in control of your assets and your estate upon your death.
In addition, even if you like the current statutory presumptions, the legislature may change them before your death. With a properly drafted will you gain certainty.
Should I set up a trust to avoid probate?
Revocable trusts have been long used to pass assets at death without probate. Whether they make sense for you depends on a lot of factors including the size of your estate, appreciation and kind of assets, and personal desires. Exposure to Estate tax is also a factor to be considered since the use of a revocable trust does not remove the assets in it from the Estate tax calculation. We work with our clients' individual situations to come up with the best answer for them.
Is a Durable Power of Attorney only for single, older or ill people?
If you are incapacitated, many financial institutions will not accept a signature from a spouse no matter what age you are. A durable power of attorney is a much less expensive alternative to a guardianship proceeding.
In addition, developing case law allows some beneficial actions to be done if specifically mentioned in a durable power of attorney.
Is it to my advantage to have a pre-nuptial agreement or a Marital Property Agreement prior to getting married?
If you have accumulated assets you do not want to become marital property, careful attention should be paid in preparation and execution of these documents.
If you are in a second marriage, and want to provide for your children of the first marriage these documents are a 'must'.
I am afraid to go to Court by myself. May I have an attorney go with me to Small Claims Court?
Yes. Attorneys are happy to assist with Small Claims actions as well as other types of litigation. Court appearances are still necessary in Small Claims and an experienced attorney will know how to use the legal system to obtain the results you desire.
My banker tells me that I don't need an attorney when I am buying a house. Is that true?
You would never buy a car without first checking the engine. It is always in your best interests to have an attorney working for you examine the title and review the documentation that transfers the real estate to you to make sure there are no hidden liens or improper charges and assure that you will be taking title in a manner to comport with your estate plan or situation in life. Often bankers or real estate agents will tell you that with Title Insurance you no longer need an attorney. You may not understand the legal language stated in the Title Commitment and Title insurance companies can make mistakes. If a problem arises at a closing, it is always a comfort to have your attorney present to sort things out to your benefit.
Why do I need an Offer to Purchase or why would I need an attorney reviewing an Offer to Purchase prior to signing?
Often a real estate transaction is one of the largest value transactions a person does in a lifetime. The language in the offer to purchase forms the contract that governs the transaction. An attorney experienced in these matters can help you assure your interests are protected which may not be the case with other individuals who are primarily motivated to get the transaction concluded.
Isn't it cheaper for me to do a pro se divorce than to hire an attorney?
Pro se personnel are not attorneys. They cannot give you any legal advice or tell you if you are splitting your assets properly. You may agree to something that you would not have to agree to if you had an attorney looking outfor your rights in a divorce. You would not hire an inexperienced carpenter to build a house, so why go with inexperience when you are dismantling a marriage. You will be making decisions that have life long consequences. Emotions are always involved in a divorce on the part of the parties, so it would be to your advantage to have someone either going into court or negotiating on your behalf who is a levelheaded disinterested party, who knows the law and will try to see that you are being treated fairly. Fewer trips to mediation or court could result in fewer fees being paid out in the long run. An attorney will see you get a good record and final judgment in Court to help avoid problems in the future. Returning to court for post-divorce issues is certain to result in additional court costs.
| Hoeper Law Offices | |
512 E. Main Street
Waupun, WI 53963
Telephone: 920-324-5050
Fax: 920-324-8866 | 503 Mill Street
Green Lake, WI 54941
Telephone: 920-294-3913
Fax: 920-324-8866 |
The Hoeper Law Offices is located in both Waupun and Green Lake, Wisconsin, and serves the communities of Waupun, Fond du Lac, Green Lake, Ripon, Beaver Dam, Maryville, Montello, and the counties of Dodge, Fond du Lac, Green Lake, Marquette and the Fox River Valley and has represented clients statewide in the state of Wisconsin.
