Although Wisconsin is a community property state, which means couples split assets 50/50 in a divorce, the court has discretion to consider various factors when deciding what is fair and equitable when dividing marital assets. Two significant factors that the court will consider are the length of the marriage and the property each spouse brought […]
Wisconsin Marital Asset Division for the Stay at Home Mom
More than a quarter of mothers are stay-at-home moms in the U.S. who opt out of the workplace and a potential career to take care of their families. Often, this care-taking role not only includes juggling the children’s needs, but support the careers of spouses. When stay-at-home moms (or dads) get divorced, they may be […]
Financial Considerations When Dividing Marital Assets in a Divorce
Unless you have been through a divorce already, you will be faced with making decisions about finances and parenting without any point of reference. That is why it is important to have an experienced team on your side to navigate the legal, financial and emotional complexities you will more than certainly face during the process […]
Keeping Your Wisconsin Divorce Settlement Agreement on Track
The heart of a Wisconsin divorce settlement agreement will address issues of child custody and visitation, marital property division, spousal maintenance (alimony) and child support. Many hope to reach a settlement to avoid going to court, but it often takes a skilled negotiator to make it happen if the parties do not agree on the […]
When Separate Property Becomes Marital Property
Even though your name might not be on the title of the car or house, Wisconsin is a community property state in a divorce, so half of the marital assets are yours under most circumstances. This is regardless of whether your spouse earned more money or brought in all of the income during the marriage […]
Dividing Retirement Benefits
Poorly drafted divorce agreements involving dividing retirement benefits such as 401ks, IRAs and pensions are a common issue resulting in post-divorce litigation. Sometimes, specific details are not addressed in the agreement or a step in the execution process is overlooked. Unfortunately, not getting it right the first time can lead to the loss of valuable […]
Qualified Domestic Relations Order
Dividing retirement assets such as 401K’s and pensions as part of a divorce settlement require a Qualified Domestic Relations Order (QDRO). A Qualified Domestic Relations Order is a legal document that divides the assets in a retirement plan between spouses. Because the employer’s retirement fund often requires the plan holder to initiate the starting date […]
Pet Custody in a Divorce
To the delight of pet lovers across the state, last year the Illinois legislature passed a new pet custody in a divorce law that allows judges to consider the well-being of a pet when allocating sole or joint ownership in an Illinois divorce. Much like child custody, the new pet custody law allows a judge […]
Divorce and Business Ownership
The possibility of divorce should be an integral part of your business financial planning – the survival of your business may depend on it. It is not just your own divorce you need to worry about, but the possibility that your business partner or an investor may divorce down the road putting your company at […]
Divorce and Family Business Valuation
Many couples in the U.S. are small business owners. If you and your spouse are considering divorce, figuring out what to do with the family business requires careful consideration. If you and your spouse have a good working relationship and can put aside your differences, one option is to continue to own the business together. […]