Without a Will, There is Still a Way: A Statutory Solution to Increase the Value of a Small Estate and Aid in Reducing the Racial Equity Gap in Wisconsin

Abstract

For generations, communities of color have struggled to increase their generational wealth. Lack of access to estate planning tools leaves minority groups and low-income families compromised and more likely to die intestate. While the current probate system creates a safety net for those that die intestate, this comment aims to address the need for a statutory solution to aid in combatting Wisconsin\u27s racial equity gap. More specifically, this Comment suggests how increasing and indexing Wisconsin\u27s summary settlement and summary assignment small estate values to include estates of $100,000 or less will allow for more minority and low-income families to qualify as small estates. Further, this Comment also suggests that increasing the value of the small estate under Wis. Stat. 876.01 will aid in reducing the estate-planning racial equity gap