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Oconomowoc Divorce attorney divorce

When you get married, you expect to be with that person for the rest of your life and live happily ever after. Unfortunately, that kind of fairytale love does not come around very often. In many cases, couples end up succumbing to divorce and end up having to split all of their assets that they acquired during the marriage. Wisconsin follows a rule of equal division, which means that a couple’s marital property is divided in half in most cases.  which simply means that the judge will make a decision based on the facts surrounding the case. Some of the most contested issues are those dealing with finances. If you are close to retirement age, you may be concerned with how your retirement plans will be affected. Thankfully, dividing retirement accounts in Wisconsin can be completed with little to no damages. 

Determining if Retirement Accounts Are Marital or Nonmarital Property

In Wisconsin, the first thing you should do before dividing your assets is to determine which assets are subject to division. Any property that either spouse brings into the marriage, along with a few exceptions for property acquired during the marriage, is not subject to division and will remain that spouse’s property. Exclusions from the marital property include any property that was acquired as a gift, property that was acquired because of death or inheritance, or any funds that come about as a result of such property.

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