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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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Muskego divorce attorney spousal maintenance

In many marriages, it is not uncommon to have some degree of inequality when it comes to the education, career, or income between the spouses. In many households, one spouse is considered the “breadwinner” while the other spouse’s income is considered supplementary. When you get divorced, those two incomes are no longer combined and both spouses must live off their own incomes. However, this is not always fair to both spouses, which is where spousal support comes in. Spousal maintenance payments can be awarded to a spouse if the couple agrees upon an amount or if the judge deems maintenance to be necessary. However, the amount of maintenance that is originally ordered is not always the correct amount that is needed over time. In some cases, you may be able to ask for a modification to your spousal maintenance order.

Awarding Spousal Maintenance Payments

When a couple gets a divorce in Wisconsin, they have the option to agree on a spousal maintenance amount. Spousal maintenance is not a guarantee in any divorce, though the judge will examine a variety of factors when deciding if maintenance is necessary, including:

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New Berlin spousal maintenance attorney

In today’s modern American families, it may not just be the husband who is the breadwinner for the family. Now, it is not uncommon for both spouses to have a job that equally provides for their family. This is why it can be so difficult for some people after a divorce. Instead of living off of two incomes, it can be an adjustment to learn how to manage with just one income. In some cases, there may be a significant inequality in how much money each spouse makes and contributes to their family. In these kinds of situations, it is not uncommon for one spouse to petition for spousal maintenance in a Wisconsin divorce. 

Factors Used to Determine if Spousal Support Is Awarded

It is never guaranteed in any divorce case that there will be spousal maintenance involved. If a spouse files a petition for maintenance, then the court will conduct a hearing to determine whether maintenance should be awarded. The factors the court uses to determine this include:

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