Will Safekeeping - Dane County, Wisconsin

Will Safekeeping

Your Compass Series

By Melinda Gustafson Gervasi

February 22, 2021

Image by M. Gustafson Gervasi, 2021

Creating an estate plan is one thing, maintaining one is a completely different issue. Recent news stories indicate that fewer than 35% of Americans have an estate plan.  Entering this group deserves a pat on the back, well done!  If you can, muster the focus and energy to go further and to maintain your plan.  An estate plan that is out of date or cannot be found is not much of an estate plan. From that concept grew my new series, Your Compass, where I will explore what it means to manage your estate plan once the ink is dry.

Where is the dang will?  After fifteen years of working with estate planning and probate clients I can tell you a fact.  People lose their wills:

• accidentally shredded;
• misfiled and found years after it was needed;
• dementia takes the memory of where it was kept;
• it was packed with "important stuff" prior to the move, but cannot be found once settled in.

Not finding your will can result in not having a will -- courts may require an original.  So keep it safe!  But what is the best way?  Personally I find safe deposit boxes to be problematic.  Too often the document that says who can get into the box after your death is inside the box....and banks are growing more and more protective in efforts to secure their clients information.

Where does this attorney keep her will you may wonder?  Answer, it's on file with the Dane County Probate Court for Safekeeping.  There is a one-time $10 fee per will.  It is given a case number and filed for safekeeping in a space that has far superior fire and water protection than I could ever provide in my home.  Not a Dane County or Wisconsin resident?  Find out if your county courthouse offers a similar service, but make sure it is a quality service.  Not all court record systems are equal.

As for today, here is the process to file your will for safekeeping with the Dane County Probate Court:

• Your ORIGINAL WILL is filed with the court.  Making a copy of your will for your records is an excellent idea; stamp it COPY and note where the original is filed;
• Put the original will in a #10 business envelop with your name, address, and DOB printed very clearly on the front.  Seal the envelope;
• Create a self-addressed, stamped envelope to yourself.  This allows the court to mail you the receipt for placing your will for safekeeping.  Keep the receipt with your copy of the will and other estate planning documents;
• Call the court to confirm they are open and accepting will drop offs (for several months in 2020 the court was not open for this service) and that make sure the fee remains $10 (check).  The phone number is 608-266-4331.  It is located at 215 South Hamilton St., #1005 (to your left after you pass through security), Madison, 53703.

Thanks for reading!  Sign up for new blog posts alerts to stay on top of your estate plan.  Remember, a blog is not legal advice nor does it take the place of an attorney.  It is meant for thought and discussion.  Please consult a licensed attorney in our area for advice specific to your situation. 

At the Heart of Estate Planning: Where can you do the greatest good if tragedy strikes

 

At the Heart of Estate Planning: Where can you do the greatest good if tragedy strikes

By Melinda Gustafson Gervasi

February 5, 2021

Lawyers ask a lot of questions when counseling clients.  In my estate planning practice a typical sequence of questions when developing an estate plan sounds like this:

Me:  When you die, where do you want your probate assets to go?

Client:   To my spouse.

Me:  And what if your spouse has predeceased you?

Client:  Oh, well to my children equally.

Me:  And if a child had predeceased you, would his/her share go to any child(ren) he or she may have had.

Client.  Umm, well....yes, yes that makes sense.

Me:  Okay, this is the last one, but if the unthinkable happened and you had no surviving children or grandchildren, what would happen then?

Client:  Wow, I never thought of that before.

One of my favorite things about working with clients is when they surprise me and give me tools to use with other clients in the future.  Years ago I walked through the questions above with a client.  The clients was a medical professional with a spouse and four adult children.  The client, unfazed by my questions due to their scientific career and daily work with dying clients said, "well, if I am on a plane that is going down with my spouse and children I want something good to come from that tragedy".  The client then listed 4 nonprofits that would inherit in the unlikely, and unthinkable scenario.  The client felt the 4 organizations captured their families values and would have the most positive impact in the world.

Ever since, when a client gets to the "wow, I never thought about that" question I encourage them to think about where their money would do the greatest good and support their values.  Most need a few days to consider options, but using the structure of "where the money will do the greatest good" makes the thought process a bit more tolerable. 

Thank you for reading.  A blog post is meant to spark thought and discussion, but it is not legal advice.  Please consult with an attorney in your state of residence for legal advice specific to your situation.