Full question:
My mother recently passed away with no assets except for her checking account which is now frozen. I was the power of attorney, and my name is listed as able to access the checking account, but not as a joint holder. There is only $2000 in the account. Must I hire a lawyer to get the money out?
- Category: Wills and Estates
- Subcategory: Small Estates Affidavit Law
- Date:
- State: Wisconsin
Answer:
When a person dies, their assets are distributed in the probate process. If a person dies with a valid will, an executor is named to handle the distribution of the estate. If the person dies without a valid will, the court appoints an administrator to distribute the decedent's assets according to the state's laws of intestacy. In cases where the decedent didn't own property valued at more than a certain amount, $50,000 in Wisconsin, the estate may go through a small estate administration process, rather than the formal probate process. Please see the statutes at the link below for details on requirements. If you are unable to determine the appliability of the statutes, we suggest consulting a local attorney.
To dispose of the real property interests of the decedent, the executor or administrator executes an executor's deed or fiduciary deed. For example, if a person who is a joint tenant dies, the executor of the estate can execute a fiduciary deed transferring their interest to the remaining joint tenants, or other person entitled to receive the interest under the will.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
