Experienced Waukesha Property Division Lawyers
Since dividing marital property can impact your financial stability and future, guidance from an experienced attorney can make a meaningful difference.
At D'Angelo & Grabow, LLP, we understand the challenges you face during a Wisconsin divorce. When you need a skilled property division lawyer in Waukesha, let us help you.
Wisconsin Marital Property Basics
As a community property state, Wisconsin law generally presumes marital property is owned equally by both spouses. However, this does not always translate to a 50/50 division of assets.
Courts deviate from equal division when factors such as each spouse’s earning capacity, health, marital contributions or financial needs support another outcome.
Marital Versus Individual Property
Not every asset is subject to property division in Wisconsin. Some property is excluded because it is deemed separate from the marital pot:
- Gifts received by one spouse may remain individual property and be safe from distribution
- Inheritances bequeathed to one spouse are often excluded from property division
- Assets a spouse owned before marriage may be treated differently and shielded from division
Knowing what is and is not subject to division allows you and your marital property attorney in Waukesha to build a clearer strategy.
Options For The Marital Home
The family home is often the most emotionally charged marital asset. Spouses have several options for handling it during the Waukesha divorce property settlement process.
- Buying out the other spouse’s interest
- Selling the home and dividing the proceeds
- Refinancing to adjust ownership and responsibility
These options carry financial and practical considerations that should be evaluated carefully with an attorney.
Dividing Retirement And Investment Assets
Retirement accounts, pensions, and investment portfolios require precise handling to avoid tax consequences or long‑term financial loss. We can help you obtain a properly-drafted Qualified Domestic Relations Order (QDRO) to help divide accounts correctly and fairly.
Mediation And Collaborative Solutions
Mediation and collaborative law offer structured ways to negotiate creative property agreements. These approaches can reduce conflict and give spouses more control over the outcome.
Frequently Asked Questions About Wisconsin Property Division
Since the outcome of property division proceedings creates the foundation for your post-divorce future, the support of a Waukesha property division lawyer can be invaluable. The NAPNAME, team can help you understand the basics of dividing assets in a divorce in Wisconsin, empowering you to set goals and prepare to negotiate. We start by answering these common questions.
What happens to the debt we accumulated during the marriage?
Financial obligations, including credit card balances, medical bills and personal loans assumed during the marriage, are potentially subject to 50/50 division, as Wisconsin is a community property state. They are part of a Wisconsin marital estate and can impact the allocation of assets.
How is a family-owned business divided in a Wisconsin divorce?
To fairly address businesses, you must first secure a professional valuation of the business. Then, the courts may award the company to one spouse, using marital property or marital debt responsibility to offset its value. Other times, the spouses may sell the business and split the proceeds.
How do we determine the value of our personal property, like furniture or jewelry?
Typically, you need to establish the current fair market value, which is the likely sale price of personal property. Working cooperatively to create a list of personal property and divide it prevents costly litigation to address resources with minimal value.
What happens if my spouse hides assets?
Both spouses should make full disclosures during the discovery process and sign a Financial Disclosure Statement under oath. If you suspect that your spouse hid assets, your marital property attorney in Waukesha can help conduct a thorough financial review to locate hidden assets. Proof of fraud during the discovery process can lead to sanctions from the courts.
Who pays the mortgage while the divorce is pending?
State courts typically issue temporary orders early in divorces to ensure the preservation of marital assets until the final property division decree. Wisconsin marital property laws allow the courts to order either spouse to pay the mortgage, utilities and insurance costs throughout the divorce process.
Now Is The Time To Call
Trust our Waukesha firm to help you through the tough times. Schedule your free consultation today by calling 262-383-2700 or reaching out online.