The Waukesha divorce and property division lawyers of Probst Law Offices, S.C. understand the emotional and financial toll a divorce has on everyone involved, including the children. The attorneys of Probst Law Offices, S.C. have over 45 years family law experience, and advise their clients on the best course of action to minimize the financial and emotional stress. They know that every family situation is different and that each situation requires a solution that is tailored to obtain the best possible result. They work with you and your spouse’s attorney to decide on equatable property division, child support, custody, visitation and other family law issues as amicably and affordable as possible. If it is not possible to resolve a family law matter through mediation or negotiation, our experienced attorneys are highly prepared to be strong advocates for their clients in family law court.
Knowledgeable and Experienced Waukesha Property Division Lawyers
Property division can often cause disagreements during a divorce, and it can sometimes be difficult to distinguish between personal and marital property. In Wisconsin, property is typically split 50/50. Once finalized, these determinations cannot be modified.
With over 25 years of experience Probst Law Offices, S.C. has the skill to handle even the most complex property and marital asset division issues. Our attorneys will thoroughly review all of your finances, looking into all of your assets, including all your sources of income and your debts in order to provide you with the best possible solution and a realistic property division estimate. They will focus in on particulars, such as if one spouse wants the house or the cabin and if there are there pensions, stocks and other retirement asset concerns to be able to reach the best possible solutions for all involved parties.
Dividing a Family Business in a Wisconsin Divorce
Today, many married couples have small businesses which may be considered in the division of marital property in a Wisconsin divorce. When valuing a business for the purposes of marital property division, first you will have to determine whether the business interest is separate or marital property.
If the business interest was acquired during your marriage with joint funds, it will likely be considered marital property subject to division in a divorce. Conversely, if the business interest was owned prior to the date of marriage by one spouse or acquired with separate funds, it may be considered separate property and will not be included in the calculation for the purposes of dividing marital property.
However, it is important to keep in mind that just because a business interest was acquired prior to the date of marriage does not mean the non-owner spouse has not contributed to the business during the marriage. More often than not, marital funds may have been used toward the business or a spouse may have put in many hours of sweat equity to make the business successful. Any financial or labor-related contributions made by a non-owner spouse during the marriage will figure into the equation when dividing assets in a divorce.
When you have questions regarding Wisconsin property division in a divorce, call (414) 210-3135 or send an email for a free, half-hour initial consultation with experienced Milwaukee and Waukesha divorce law attorney. MasterCard, Visa and Discover credit card payments are accepted. See more of our Family Law | practice areas.