Frequently Asked Questions About Property Division
Asset division is one of the most stressful processes during divorce. No spouse wants to lose property, and either one may be concerned about their financial future now that they are dividing significant assets. To learn more, read our property division FAQ below.
If you are considering divorce, call D'Angelo & Grabow in Waukesha at 262-278-0987 to schedule a free 30-minute consultation. Our experienced attorneys can explain your divorce options and help you strategically pursue a beneficial resolution.
What Property Will Be Divided During My Divorce?
Property division can be complicated. During divorce, only marital assets are divided between spouses. Marital assets can include almost any property gained by either spouse during marriage, including personal incomes, retirement accounts, bank accounts and houses.
Separate assets can be awarded in full to one spouse or the other. Separate assets include personal gifts, inheritances, assets detailed in a pre- or postnuptial agreement, property owned prior to marriage and property gained after separation. However, this can be difficult to determine.
How Is Property Divided In Wisconsin?
While most states divide spouses’ property equitably during a divorce settlement, Wisconsin follows community property laws. Under this system, the court starts with the proposition that all property and debts will be split 50-50.
Do We Have To Divide Assets 50-50?
While the court generally favors a 50-50 split, they may take some extenuating circumstances into account. These can include the length of your marriage, age, mental and physical health, earning potential and whether a spouse has a significant amount of separate property to provide for their own financial security.
Contact Us For Knowledgeable Guidance
If you are considering divorce, you deserve to have an experienced attorney on your side to guide you through the process. Our lawyers have over 30 years of combined experience to provide counsel and help you uncover the right divorce solution for your family. Call our Waukesha office at 262-278-0987 to schedule your 30-minute free case evaluation. You can also contact us online.