Division of Property Is Key to Divorce Agreements in Milwaukee County
It is important to protect your property rights when your marriage ends. Wisconsin is a community property state, which means that there is a presumption that all property, including assets as well as debts, acquired by either spouse during the course of the marriage belongs to the community, or to both spouses, equally.
Courts, therefore, adhere to this presumption when determining how to divide marital property between spouses and attempt to make an equal distribution of the property. This, however, is not always fair, and the divorce attorneys at Laster & Associates LLC will aggressively defend your right to your property.
Division of Marital Property: Factors Considered by the Court
If the parties cannot reach an agreement regarding the division of the marital property, a court will determine the property division. In reaching its decision, the court considers:
How long the parties were married
The property owned by either spouse at the time of the marriage
Whether there is an agreement between the parties governing the distribution of the property
The age and physical and emotional health of the parties
Whether, and to what extent, one party contributed to the earning capacity of the other spouse
Each spouse’s contributions to the marriage
Whether there are any assets that cannot be divided
The tax consequences of the division
How the family home is, or will be, divided; where applicable, the court considers any marital children
and with whom they will be placed, and if it is in the child’s best interest to remain in the family home
Any other factors the court deems relevant
While the presumption in Wisconsin is that each spouse owns the marital property equally, there are two recognized exceptions:
Property acquired by gift is deemed to be that spouse’s separate property
Inheritance is treated as the inheriting spouse’s separate property
The court, in its efforts to equally divide the property between the spouses, may award property to one party, and cash to another. Uneven distribution of property may occur unless the court determines that an unjust hardship to one party, or a child, may result.
Do not risk losing your property; speak with a knowledgeable property attorney at Laster & Associates to discuss your case.