By Lysee Mitri

Argyle, WI (WKOW/CNN) - Bail was set at more than $1 million each Wednesday for two Wisconsin brothers accused of setting a deadly fire.

The blaze last week in Argyle killed one of the men's three sons and his unborn baby.

Armin Wand III and his 18-year-old brother Jeremy Wand, are charged with three counts of homicide, two counts of attempted homicide, and one count of arson. Armin also has an additional count of attempted homicide.

Investigators say he admitted to setting the fire to kill his family and collect on their life insurance policies.

A report shows Armin and Jeremy say they tried multiple times to start a carpet on fire. That Armin crumpled up sheets of paper and pushed some of the burning paper under a futon where his wife, Sharon Wand, was sleeping.

The report shows Armin says he and his brother lit a couch on fire where 3-year-old Joseph was sleeping, and that they locked the door to the bedroom where 7-year-old Allen and 5-year-old Jeffrey were sleeping.

Police say Sharon ran out with her 2-year-old daughter Jessica, handed her to Armin who was outside in the driveway, and when Sharon wasn't paying attention, police say Armin admitted to trying to put the girl back in the burning home. He stopped when a woman arrived.

Investigators used a tool to scan a 3D image of the crime scene, highlighting the fact that the investigation in not yet over.

WKOW/CNN