Eau Claire Property Division Lawyers

WORKING TO PROTECT YOUR BEST INTERESTS

One of the most contested aspects of any divorce is how the couple’s various shared assets will be divided.

At Otto Family Law, our family lawyers have extensive experience helping individuals navigate divorce. Having an Eau Claire property division attorney on your side during the divorce process can help ensure that your rights are protected. While assets are not always divided equally, our firm can work to make sure they are divided fairly so that your best interests are secure. No matter how complex your case may be, you can rely on our team for compassionate, methodical legal assistance and uncompromising representation every step of the way.

IS WISCONSIN A COMMUNITY PROPERTY STATE?

Wisconsin is one of several U.S. states (the others are Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, and Washington) labeled as a community property state. In community property states, all marital property is subject to a 50/50 split upon divorce.

SEPARATE PROPERTY IN WISCONSIN

Separate property in Wisconsin is any asset that falls under one of the following categories:

• Any assets/property owned by one spouse before the marriage
• An inheritance obtained by only one spouse
• Any gift made to only one spouse
• Personal injury compensation acquired by one spouse for pain and suffering

For example, if you owned a house before marrying your spouse, that is considered separate property. However, the issue of marital vs. separate property can quickly become complicated. If, for instance, you sold a house that you owned before marriage and then used the money from the sale for a down payment on a marital home, you will likely be awarded the pre-marital portion of the down payment from the equity in your current shared residence. However, it can be difficult to prove the amount of existing equity in the house at the time you were married. Because of such complexities, it’s wise to seek out a skilled division of assets attorney in Eau Claire who can help you work to protect your assets.

HOW ARE ASSETS DIVIDED IN A WISCONSIN DIVORCE?

Wisconsin courts assume that all of your property is to be divided equally, but there are many exceptions to this and many factors the courts will consider.

The court may divide assets in an unequal manner if it determines that one of the spouses committed financial misconduct. This can include the purchase of illegal substances/drugs, significant loss due to gambling, hiding assets during divorce proceedings, or using substantial amounts of money in an affair. Courts may also divide assets unequally based on the value of the property and amount of debt each spouse brought into the marriage.