Tag Archives: Marital Property Agreement

ESTATE PLANNING AND WISCONSIN MARITAL PROPERTY LAW

Wisconsin’s Martial Property Code is a comprehensive set of statutes that are riddled with complex details and exceptions. The marital property laws apply to spousal property rights during the marriage, in the event of a divorce, and also upon death. Failing to create an estate plan that takes the marital property laws into account can have unintended and even disastrous consequences at death.

What is the Purpose of the Marital Property Law?

The Marital Property Act was initially passed in 1986 with the intention of creating financial equality between spouses. The law acknowledges that both spouses contribute to a marriage in many ways, financially and otherwise, and whatever assets or income they acquire during the marriage should belong to them equally. This economic partnership also provides a spouse with an easier access to credit if his or her income is less than that of the other spouse.

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Estate Planning: Second Marriages and Blended Families

Estate Planning Becomes Challenging for Second Marriages and Blended Families

 Estate PlanningWhen one or both spouses are on their second or subsequent marriage, or in cases where families are blended together in a non-marital environment, Estate Planning can present some unique and challenging issues.

As an Estate Planning Attorney I often work with clients who are on their second or third marriage, and each spouse may have children from a previous marriage or relationship. They may also have children together. Other clients may live in a long-standing marriage-like relationship and they, too, frequently have children together or children from previous marriages or relationships. Continue reading →