Wisconsin divorce courts address marital property division based on community property laws. This ruling implies that all marital property should be divided equally. However, inherited properties or any items that were given as gifts are not subject to this ruling. If you wish to establish your rights to property in a divorce case, you should hire a lawyer in Milwaukee WI promptly.
How is Marital Property Distributed?
The first concept reviewed by a judge in terms of marital property division is the length of the marriage. If the couple wasn’t married prior to the accumulation of wealth or acquisition of specific properties, it is more likely that the judge will review the earning capacity of each spouse. If one spouse will sustain a financial hardship after the marriage is dissolved, the judge may award him or her with a larger portion of the marital estate to balance this loss.
The judge will review contributions by each party during the course of the marriage. This does not discredit a housewife or imply that she did not make a contribution to the marital estate. In fact, the judge will assign an economic value to her efforts as a homemaker and for child care that she has provided throughout the marriage. If you were a housewife during your marriage, you should consult an attorney about these economic values.
Alimony
Judges award alimony and other forms of spousal support based on the needs of the spouse. If a spouse will face a financial hardship and is unable to sustain the same lifestyle achievable during the marriage, the judge will order their spouse to pay these maintenance payments. However, there are different forms of alimony. For instance, the judge can limit payments to a one-time lump sum value or order payment until the former spouse is remarried or dies.
By understanding the ramifications of property division, you realize the efforts for protecting your rights in a divorce case. A judge assigns ownership in a divorce trial based on factors that could alter the earning potential of each spouse. If you wish to initiate your rights in a divorce case, you should contact a Lawyer in Milwaukee WI to represent you.
