Understanding Your Property Rights In Divorce
When couples divorce, they must divide their assets and debts. In Wisconsin, everything a married couple acquires before and during the marriage is considered divisible property, which is presumed to be divided equally – even if one spouse earned or spent more of the money.
If you are contemplating or going through a divorce in Wisconsin, you are likely – and understandably – concerned about your assets. At Burbach & Stansbury S.C., our Milwaukee divorce attorneys are well-versed in protecting all assets. We can help you navigate the divorce process and work to protect your interests and your future.
We Identify Opportunities To Keep And Protect Your Property
You can protect your property as much as possible from the asset division process if:
- You have a prenuptial or postnuptial agreement that defines property ownership or division
- You have assets that were gifts or inheritance from a third party, and you kept these assets separate from the marital estate
- The circumstances of your case call for a variation from the standard rules, such as if you contributed a significant share of property to the marriage.
We can help you optimize your estate in divorce no matter how complicated or simple the assets may be. Our lawyers have experience with dividing and protecting businesses, and we work with you to develop sophisticated asset division strategies.
We believe that property division in a divorce is more than simply dividing assets. Rather, it is a financial plan that needs to protect you now and in the future. Navigating the divorce process can be complex and emotionally demanding. Regardless of your particular situation, it is wise to speak with an experienced divorce attorney who can help you understand your options and protect your rights and finances. We can help you find creative solutions that are tailored to your unique situation.
What Does Property Division Mean For Nonliquid Assets?
While most people understand the process for dividing cash accounts and other things like homes or cars, dividing other assets can be a more complicated process, especially for accounts and properties that will gain significant value over time. Examples of these assets include:
- IRAs, 401(k) accounts, pensions and other retirement savings
- Investments, bonds and other accounts subject to capital gains taxes
- Businesses, including both small businesses and franchises
While the court has some basic rules for these types of holdings, your property division settlement should consider the assets’ long-term growth potential and attempt to either divide them or preserve them as benefits you most.
Protecting Your Family Property And Heirlooms
Wisconsin families hold their history close to their hearts. But, in many cases, these memories also have very real physical counterparts. For instance, many people revisit family cabins annually for hunting or may keep valuable jewelry or firearms that have been handed down for generations. In these cases, your property may already be safe; property that is inherited is often exempt from property division. If, however, there are significant changes to your family’s property or other extenuating circumstances exist, your family heirlooms may need additional protection and consideration so that they continue to be passed down from one generation to the next appropriately. Our firm will help you identify what property is subject to division and how we can help you keep family heirlooms and property in the hands of the right people.
Contact Burbach & Stansbury S.C. Today
At Burbach & Stansbury S.C., our family law attorneys understand the importance of your property and financial concerns. To learn how to reach a divorce outcome that considers your needs, call our office at 262-257-9110 or submit an online contact form today.
We serve clients across Milwaukee, Waukesha, Ozaukee, Washington, Racine County and all of Wisconsin.