Division of Property

Defending Your Right to Your Property

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  adhere to this presumption when determining how to divide marital property between spouses and attempt to make an equal distribution of the property. This is not always fair and the divorce attorneys at Laster & Associates 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.

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