High asset divorce cases involve issues that go far beyond the marital home and the children. These cases often involve stock portfolios, real estate, businesses, professional practices, luxury items, and other valuables. It is important to have an attorney with experiencing in these niche areas of property division.
In a Wisconsin divorce, property is divided according to community property laws. This means that marital property is split 50/50. In a high asset divorce, there is no exception, unless a prenuptial or postnuptial agreement is present. In a high asset divorce where many valuable assets exist, it is important to seek the aid of […]
The most valuable asset of a military servicemember in a divorce is often military retired pay. Servicemembers often have two retirement options: military retirement (a pension) and the federal Thrift Savings Plan (similar to a 401k). The TSP is easily divided between spouses because there is a clear account balance. The division of the […]
If you are in the midst of divorce or legal separation in Wisconsin, you have probably heard the phrase, “Wisconsin is a community property state.” This means that, by default, the Wisconsin Court will divide marital property equally between divorcing or separating spouses. Everything you and your spouse own is presumed to be owned by […]
As part of any Wisconsin divorce or legal separation process, there will be a need to divide marital property between you and your spouse. Whether you are seeking a divorce or a legal separation, there is a presumption in Wisconsin that all property acquired during the marriage should be divided equally between the parties, at […]
Many questions arise from property division in Wisconsin divorce. Clients often wish to retain possession of certain items of personal property, from furniture to bank accounts to pets. Sometimes, people have an idea that property should be divided in a certain way, because “he cheated on me,” or because “she was the one who wanted the […]
In a Wisconsin divorce, the judge begins with the presumption that each spouse receives one-half of marital assets. However, judge also considers 13 factors that can shift the final property division in favor of one spouse. Common factors are the length of the marriage, the spouses’ earning ability (accounting for time spent out of the workforce to care for children), property owned […]
Not without your spouse’s agreement. Wisconsin divorce property division law specifically prohibits selling, giving away, cashing in, or destroying assets once a divorce is filed. This rules applies to all property, including retirement accounts, real estate, stocks, investments, checking accounts, CDs, vehicles, furniture, etc. The purpose is to maintain the couple’s property as close to what it was on the date the divorce was filed. […]
Although a Wisconsin divorce court could not allow it, a Georgia court recently ordered a man to pay $50,000 to his “ex-fiancée,” ruling that a promise to marry is enforceable. http://gma.yahoo.com/ga-man-must-pay-50-000-breaking-engagement-003334233.html It is not clear how the court arrived this value, though an attorney speculates it represents 1/2 the value of a jointly-owned home. The Wisconsin legislature abolished […]
Continuing a discussion of the Wisconsin Court of Appeals’ decision in Peterson v. Bauer, http://www.wicourts.gov/ca/opinion/DisplayDocument.pdf?content=pdf&seqNo=104582, I want to focus on the treatment of military retired pay in a Wisconsin divorce. Federal rules govern the division of military retirement benefits upon divorce. Therefore, Wisconsin divorce cases involving military members must account for relevant federal laws. The division of military benefits depends upon the length […]
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