Experienced Division Of Property Lawyer in Madison, WI
Division of Property
There is a legal presumption in Wisconsin that upon divorce all property will be divided equally.
While division of property may at first seem straightforward, it is nonetheless important to have experienced representation. Having practiced family law for twenty years, I can advise you as to what are the most advantageous positions for you to take on disputed issues and what are the most prudent and cost effective strategies to employ to provide you with the best chance of a favorable outcome.
The only property statutorily exempt from that presumption is property received by gift or inheritance. However, the Court can, and often does, deviate from equal division of property by giving offsets for property brought to the marriage and for other reasons. Even inherited property can be deemed part of the divisible marital estate if there is evidence of donative intent, such as placing the names of both parties on the title of an inherited asset. It is also important to know how to value assets on the marital balance sheet. Retirement accounts, such as IRAs and 401(k) accounts, should generally receive a discounted value in light of the taxes which will be incurred then the funds are withdrawn. If there is a pension, it is generally best to have the value determined by an expert. Over the years, I have had numerous WRS pensions, military pensions and other pensions valued by experts who can also determine the “marital value” when the years during which the pension accrued fall both inside and outside of the marital years. Henry Family Law Offices, LLC offers free consultations during which we can begin to identify the property division issues that may be important to your case.
Contact a Madison divorce attorney at Henry Family Law Offices, LLC
Serving Dane County, Jefferson County, Columbia County, Sauk County, Green County, Dodge County, Rock County, Grant County, Iowa County and Richland County, we provide personal, knowledgeable legal services in numerous capacities — whatever means best serves you in your unique domestic situation. Call the firm at 608.836.0980 or contact us online to schedule your free initial consultation.
There is a legal presumption in Wisconsin that upon divorce all property will be divided equally.
While division of property may at first seem straightforward, it is nonetheless important to have experienced representation. Having practiced family law for twenty years, I can advise you as to what are the most advantageous positions for you to take on disputed issues and what are the most prudent and cost effective strategies to employ to provide you with the best chance of a favorable outcome.
The only property statutorily exempt from that presumption is property received by gift or inheritance. However, the Court can, and often does, deviate from equal division of property by giving offsets for property brought to the marriage and for other reasons. Even inherited property can be deemed part of the divisible marital estate if there is evidence of donative intent, such as placing the names of both parties on the title of an inherited asset. It is also important to know how to value assets on the marital balance sheet. Retirement accounts, such as IRAs and 401(k) accounts, should generally receive a discounted value in light of the taxes which will be incurred then the funds are withdrawn. If there is a pension, it is generally best to have the value determined by an expert. Over the years, I have had numerous WRS pensions, military pensions and other pensions valued by experts who can also determine the “marital value” when the years during which the pension accrued fall both inside and outside of the marital years. Henry Family Law Offices, LLC offers free consultations during which we can begin to identify the property division issues that may be important to your case.
Contact a Madison divorce attorney at Henry Family Law Offices, LLC
Serving Dane County, Jefferson County, Columbia County, Sauk County, Green County, Dodge County, Rock County, Grant County, Iowa County and Richland County, we provide personal, knowledgeable legal services in numerous capacities — whatever means best serves you in your unique domestic situation. Call the firm at 608.836.0980 or contact us online to schedule your free initial consultation.