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How are assets divided in a Wisconsin divorce?

How are assets divided in a Wisconsin divorce?

In order to divide assets in a Wisconsin divorce, an important distinction must be made between “separate” and “marital” property. “Separate property” is not subject to division, which means that spouses get to keep their separate property after divorce.

How are property laws affected by a divorce in Wisconsin?

The process of property division is affected by state laws such as community property laws, definitions of marital contributions, etc. Wisconsin is an equitable distribution state, and only property acquired during the course of the marriage is subject to division following divorce.

Can a inherited property be divided in Wisconsin?

Inherited property given to one spouse or the other is exempt from a division of assets in Wisconsin. However, if the inheritance is commingled with marital assets, it can be considered marital property and subject to equal property division laws in the state.

What makes an equitable property division in Wisconsin?

Wisconsin law allows courts to consider economic misconduct of a spouse as a factor in determining equitable property division. Economic misconduct generally means dissipation of assets , which is the legal term for the wasting or loss of marital funds or assets by a spouse through means like excessive spending, gambling, fraud, etc.

How is property divided in a divorce in Wisconsin?

Because Wisconsin is a community property state, all marital property acquired during the marriage will be divided evenly in a divorce, legal separation or an annulment. However, property inherited by each spouse or a gift given exclusively to one spouse or the other is excluded from community property division laws.

How are marital assets divided in Wisconsin Law?

Wisconsin divides marital assets via equitable distribution, which means that the court attempts to divide marital assets in a fair and equitable manner between the spouses, taking multiple factors into account in order to determine the equitable distribution for each spouse.

Wisconsin law allows courts to consider economic misconduct of a spouse as a factor in determining equitable property division. Economic misconduct generally means dissipation of assets , which is the legal term for the wasting or loss of marital funds or assets by a spouse through means like excessive spending, gambling, fraud, etc.

What do you need to know about divorce in Wisconsin?

For more information about divorce or legal separation see the Basic Guide to Divorce/Legal Separation . The law pertaining to family law issues such as divorce, child custody, child support, and paternity can be located in the Wisconsin Statutes (external link).