Tuesday, December 27, 2011

Accessing a Safe Deposit Box Without Probate

Avoiding probate -- it's the goal of so many people. So what happens if probate is successfully avoided but the decedent had a safe deposit box? In a recent experience I had success by using a Wisconsin Transfer by Affidavit form. PR 1831 allows heirs to receive assets, without opening a probate, if the TOTAL probate assets were less than $50,000. The tricky part can be figuring out if an asset is probate or not. If there is a beneficiary form of any kind (TOD Deed, POD, TOD, Beneficiary form) that successfully transfers, then the asset is NOT part of the probate estate.

I love it when problems can have relatively simply solutions!

Please remember, a blog post is not intended to convey legal advice. Please contact a lawyer for guidance in your specific situation.

Photo credit: www.sxc.hu - free images.

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