A Wisconsin marital property agreement is a legal document that couples can use to protect their assets and property in case of divorce. It allows spouses to determine how their assets will be divided in the event of a separation or divorce.
This agreement is particularly useful in Wisconsin, where the state operates under a community property law system. Under this system, all assets acquired during the marriage are considered joint property and are subject to a 50-50 split in case of a divorce. However, with a marital property agreement, spouses can define their own rules for dividing assets and property, rather than relying on the default laws set by the state.
A Wisconsin marital property agreement can be used to protect a wide range of assets, including:
– Real estate
– Retirement accounts
– Investments
– Business interests
– Personal property (such as artwork or jewelry)
To create a marital property agreement in Wisconsin, both spouses must disclose all of their assets and debts. They must also set out the terms of the agreement, including how assets will be divided in case of a divorce or separation.
It is important to note that a marital property agreement cannot be used to waive spousal support or child support obligations. Additionally, the agreement must be signed by both spouses and notarized to be considered legally binding. It is also a good idea to work with an experienced attorney to create a marital property agreement that will stand up in court.
Overall, a Wisconsin marital property agreement can provide peace of mind and protection for couples who want to define their own rules for dividing assets and property in case of a divorce. If you are considering a marital property agreement, be sure to do your research and consult with an attorney who specializes in family law.