A divorce often involves a wide range of contentious issues. From physical placement of minor kids and child support to alimony and distribution and division of marital assets, there are several aspects to consider. If you want to file for divorce in Waukesha, you must try to resolve things with your spouse so that you can get an uncontested divorce. Before anything else, you should check whether either party fulfills the necessary residency requirements. Also, it is essential to talk to a Waukesha divorce attorney about the legal work. In this post, let’s take a look at property division.
Wisconsin laws on marital property
As per laws in Wisconsin, all assets, and properties that a couple has acquired and accumulated during the marriage, including pension and retirement plans, must be divided equally between both spouses in a divorce. The list includes homes, cars, vehicles, and everything else, including businesses. There are some assets which are not subject to the 50-50 split, including assets that are a part of either party’s inheritance and gifts.
Factors that may influence property division
Wisconsin is one of the nine states that follow the community property rule. However, there are still a few things that can affect property division between spouses. The first critical one is a prenuptial agreement that the couple may have signed. The court may have to consider many additional things if the couple cannot come to an agreement, including the length of the marriage and the contribution of each party to the marriage. Earning capacities of both spouses, age, and health are other things that may affect the outcome.
Get an attorney
In your best interests, you need to talk to a family lawyer to understand how you can protect what’s yours in the divorce. Property division may also have tax consequences, which means you shouldn’t be adamant about your decisions. A lawyer can help you understand things better and ensure that you don’t agree to something unfair to your interests. Accomplished family lawyers in Waukesha have handled hundreds of divorces, including high-net divorces, which means they have the experience and understanding to offer unbiased advice for your situation.
It doesn’t matter how much you have at stake, but you shouldn’t take a chance when your finances and future are at stake. Knowing Wisconsin state laws is not enough – call an expert who can fight for your assets and rights. Most lawyers charge a small fee for the initial consultation.