Marital Property Agreements
Marital Property Agreements decide how each asset owned by a married couple should be classified under Wisconsin’s Marital Property Law. These classifications include “marital property” or “individual property”. Married couples can use Marital Property Agreements to divide assets to distribute to people other than their spouse and to protect assets from the debts of the other spouse. These agreements can apply at the time of divorce or the death of one spouse.
“Prenuptual Agreements” are Marital Property Agreements entered into before a couple is married. “Postnuptual Agreements” are entered into after a couple is already married.
Under Wisconsin law, when spouses get divorced, there is a presumption that all property is divided equally between the two spouses. With a Marital Property Agreement, the spouses can agree to a particular distribution of their assets in the event they later divorce.