Generally, in Wisconsin, in divorce and legal separation actions, the Court initially presumes that all property is to be divided equally between spouses.
This general rule may not apply to property acquired by gift or inheritance that is not subsequently commingled. Also different rules apply if a pre-marital (pre-nuptial) or post-marital (post-nuptial) agreement, is in place.
The equal division presumption basically means that all assets and debts are placed into a “marital pot” and the court determines a way to equally divide the assets and debts, including those assets and debts brought to the marriage. In Wisconsin, the Court shall not alter an equal division of property because of marital misconduct.
However, the Court can deviate from an equal division, for any reason the Court deems relevant, including: a) length of marriage; b) property brought to the marriage; c) if either party has substantial assets not subject to division (gifted or inherited); d) contribution of each spouse to the marriage, including homemaking; e) age of each party; f) physical & mental condition of each spouse; g) contribution of one to the education, training or increased earning power of the other; h) the earning capacity and skills of each party; i) the desirability of the person caring for the children having a suitable home; j) amount and duration of any maintenance/spousal support award; k) economic circumstances of each spouse, including interests in pension & retirement plans; and l) tax consequences.
** Entries posted on this Blog shall not be deemed legal advice. For individual attention to your particular legal situation, consult an attorney.** Attorneys Dan Murray and Barb Miller. Lawyers helping individuals with divorce, custody, placement, and family-law matters in Minnesota and Western Wisconsin. www.millerandmurray.com