How will property be divided?
Again, the law recognizes that the marriage is a partnership and if that partnership is dissolved, all marital assets and liabilities should be divided 50/50. The exceptions to this are any property received as a gift or inheritance. This property is not subject to division so long as it is kept separate.
Wisconsin Divorce Proprty Division
The court may deviate from this equal division under some circumstances after considering the following factors: (1) The length of marriage, (2) the property brought to the marriage by each party, (2r) whether one of the parties has substantial assets not subject to division by the court, (3) the contribution of each party to the marriage, giving appropriate economic value to each party's contribution n home making and child care services, (4) the age and physical and emotional health of each parties, (5) the contribution by one party to the education, training or increased earning power of the other, (6) the earning capacity of each party, including educational background, training, employment skills, work experience, length of absence from the job market, custodial responsibilities for children and the time and the time and expense necessary to acquire sufficient education or training to enable the party to become self-supporting at a standard of living reasonably comparable to that enjoyed during e marriage, (7) the desirability of awarding the family home or the right to live therein for a reasonable period to the party having physical placement for the greater period of time, (8) the amount of duration of an order under s.767.26 granting maintenance payments to either party, any order for periodic family support payments under s.767.261 and whether the property division is in lieu of such payments,(9) other economic circumstances of each party, including pension benefits, vested or not, and future interests, (10) the tax consequences to each party,(11) any written agreement made by the parties before or during the marriage concerning any arrangement for property distribution; such agreements shall be binding upon the court except that no such agreement shall be binding where the terms of the agreement are inequitable as to either party. The court shall presume any such agreement to be equitable as to both parties, (12) Such other factors as the court may in each individual case determine to be relevant.
For more information on marital property division or to schedule an appointment with an experienced Milwaukee divorce lawyer for property division, please contact our Milwaukee family and divorce law firm.
John T. Fields & Associates, LLC
740 Pilgrim Pkwy., Suite 100
Elm Grove, WI 53122
262-782-8322
Fax: 262-565-2424
Map and Directions
250 East Wisconsin Avenue, Suite 1800
Milwaukee, WI 53202
414-771-9500
Map and Directions
