Wisconsin couples who are going through the divorce have many things to consider, and some items might be overlooked as a result of the stress and emotions that often accompany the end of a marriage. A few tips may help the process go more smoothly.
A divorcing spouse should gather financial information together early. It may be helpful to make out a list, and copy all needed documents beforehand. That way, if documents disappear, the papers an individual needs will be safely gathered together. People should also remember that their retirement accounts, insurance policies, wills and other documents name beneficiaries. An individual who is divorced may be busy trying to get his or her life back together, and these important documents may be overlooked. Changing those beneficiary designations prevents an ex-spouse from collecting. In addition, if an individual is granted part of a retirement account as part of the divorce settlement, a qualified domestic relations order will need to be prepared and approved by the court.
Estranged spouses should ensure that personal items, family photos, mementos, jewelry and similar items are protected during a divorce. The safest place would be somewhere other than at the house, perhaps at a friend’s residence or placed into storage. During the divorce process, items might disappear. Afterward, because a newly divorced individual is busy, a delay in retrieving personal items may not guarantee that they will be there. Obtaining a copy of a credit report lets an individual ensure that all credit cards and bills are accounted for, so there are no surprises coming in the mail later. It also ensures that all debts are included in the property division.
The end of a marriage is often a time of great change, and consulting a family law attorney is a good first move. An attorney can provide advice and counsel at each stage of the process, including the negotiation and preparation of a comprehensive settlement agreement.
Common mistakes made in Wisconsin divorces
There are no doubt many Wisconsin couples who have gone through a divorce and later regretted how they handled things. This is not a surprising sentiment since ending a marriage can often be an emotional process, and many individuals are feeling both antagonistic and hurt. However, there are a few common pitfalls to avoid that can make the process easier and provide better results.
One common error is to try to rush through a financial investigation. What a couple owes and owns and how these are split up can have a huge impact on someone’s life for years to come. It is essential to spend time, even if it seems boring and tedious, to collect financial information to get an accurate picture of a couple’s assets.
Another frequent mistake that people make is picking and choosing the wrong battle. Many estranged spouses will spend an exorbitant amount of time and money on getting a few extra dollars of child support, for example, but the child is nearing emancipation and the additional support will end up being less than the expense.
While the view of divorce as portrayed in movies and on television often involves couples sparring in a courtroom, litigation is not the only way to end a marriage. Alternative dispute resolution methods such as mediation may be better suited for a couple that can communicate on some issues, and in many cases it will be less time-consuming and cost less money.
Understanding the legal processes associated with the end of a marriage and how issues are decided can help people avoid common mistakes. A family law attorney can assist a client who is contemplating a divorce by explaining the various legal issues that are likely to be involved.
Meeting with an attorney to discuss a divorce
Wisconsin residents who are thinking about pursuing a divorce are sometimes reluctant to take the first step. Making an appointment with an attorney to discuss a divorce may feel like crossing a line, but knowing what to expect can often calm these anxieties. An initial divorce consultation with a family law attorney involves learning about the various legal options available and getting a better understanding of what will happen if the decision to proceed is made.
While spouses will rarely be expected to make final decisions during an initial consultation, they should still make some preparations. Attorneys will be able to give more complete advice when they are familiar with details such as the incomes of both spouses, the amount of money in bank, retirement accounts and the clauses of prenuptial agreements. Attorneys could use this information to explain how Wisconsin’s property division laws will be applied and provide advice about possible spousal support.
Attorneys may also go over a number of alternatives to a traditional divorce. Alternative approaches to settling legal disputes include mediation and collaborative law, and these may be attractive options to spouses who wish to avoid confrontation or feel that an amicable settlement can be reached. Family law attorneys could also discuss the steps involved in pursuing these strategies. Additionally, the consultation will likely include a discussion about child custody and visitation arrangements.
Going through a divorce can be difficult and emotionally challenging, and it is important for spouses to find an attorney whom they feel comfortable discussing delicate subjects with. Negotiations over property division, spousal support and child custody may sometimes become contentious, but having an agreed-upon strategy and clear goals could make it easier to reach a compromise and avoid the uncertainty of going to court.
Research about which spouse ends relationships more often
A recent study conducted by a sociologist at Stanford University confirmed earlier findings that wives in heterosexual marriages in Wisconsin as well as other states were more likely to be the ones to ask for a divorce. However, this research also uncovered a surprising fact. With unmarried heterosexual couples, men and women were each equally as likely to initiate a breakup of their relatioship.
This study found that in 69 percent of cases where the married couple ultimately ended the relationship, the wife was the one who decided to initiate the divorce. Previous to this research, social scientists had assumed women were more likely to end relationships because they are more sensitive to the highs and lows of romantic relationships. According to the findings of this study, which included 2,262 adults, the reasons relationships end seem to be much more complicated.
The findings suggest that the institution of marriage has not yet let go of traditional gender roles. Gender equality is recognized in many aspects of society yet wives still often take their husbands’ surnames and husbands tend to expect them to assume the bulk of the child care and housework duties. In non-traditional relationships, where women and men share responsibilities, this particular conflict might not exist.
Married people who choose to end their relationship typically work with separate attorneys to ensure their assets are divided equitably. An attorney who has experience with divorce legal issues might give a client advice to help identify all of the marital assets so they can be documented in a property division settlement agreement.
How to discuss financial matters prior to a wedding
A prenuptial agreement may streamline the process of dividing property in the event of a divorce. However, Wisconsin couples may wish to have a conversation about their finances and come to certain monetary arrangements even if they don’t create a formal agreement. For instance, each party should discuss their financial past, their current financial situation and what their future financial goals are.
This allows the couple to get an accurate picture of their current debts, income and assets prior to getting married. Having a clear picture now makes it easier to determine who will be responsible for paying joint debts and whether either side will need or receive help paying their own debts. A conversation such as this one should also focus on whether either side has reservations about relocating for work or when it may be a good idea to buy a home or make other large purchases.
Each party should agree that they will not spend, lend or borrow large sums of money without the other person’s knowledge and consent. This enables each person to be a part of the decision making process and come to a consensus as to what is best for the family as a whole. It may be one of the most significant ways that a couple can demonstrate their commitment to each other.
Matters such as property division may be resolved faster when there are no hidden assets or disputes as to how much a business or other intangible good may be worth. The existence of a valid prenuptial agreement can ease the process as well. Those who are considering entering into one should obtain the advice of an attorney to ensure that it does not contain any invalid provisions.
Why a prenuptial agreement may be a good idea
Wisconsin residents who are contemplating marriage or remarriage may be in a quandary over whether or not to ask for a prenuptial before the wedding. Because a prenuptial lists assets already attained by each individual, it may be a good idea even if you live in a community property state such as Wisconsin.
There are various aspects of a prenuptial agreement that are beneficial. Your individual property is protected and, if one individual stands to receive an inheritance, that may be added to a prenuptial. Defining common and individual assets may prevent problems in the future. Because this is not the first marriage for all couples, those who have been divorced may wish to make an arrangement to provide for children or grandchildren from the previous marriage from the estate, and this may be accomplished through the use of a prenuptial agreement.
Protecting assets in the event of divorce may be particularly important if one individual comes to the marriage with considerably more assets. Starting a marriage with financial openness allows both partners to know the entirety of assets, income and debts that each one holds. This may be an important consideration when planning financial matters in the future and for estate planning.
Additionally, having a prenuptial is an opportunity for both partners to clarify which marriage partner will be handling financial affairs, including investments and business. A plan for the future from the beginning helps to avoid conflict and gives a couple the security of knowing that they are working as a team to build a future.
Consulting with an attorney who might help structure an agreement is beneficial. The attorney may lend insight into the various items that could be added to a prenuptial agreement and make sure it would stand the test of time.
Babies before marriage may carry less stigma in Wisconsin
If a woman had a baby prior to getting married at any point between 1985 and 1995, she was 60 percent more likely to get divorced. However, that same woman would not be any more likely to get a divorce if she had a baby before getting married between 1997 and 2010. This is according to a study conducted by the nonprofit Council on Contemporary Families.
There were two possible reasons cited in an effort to explain that finding. First, there tends to be less of a stigma that comes with having a child before a couple got married. Second, the number of parents who were not married increased from 17 percent to 35 percent between the two time periods. Overall, researchers say that couples who are not married are taking things at their own pace, which may reduce the urge for a shotgun wedding.
Researchers believe that there is more of an acceptance of those who decide to cohabit before getting married. However, the research did reveal that 30 percent of cohabiting couples who were together for more than five years but who never got married ended up separating. It is believed that lower education levels and incomes could be behind this number, but researchers did say that such variables were taken into account during their analysis.
A parent who is facing the end of a marriage may want to obtain the assistance of a family law attorney regarding the variety of divorce legal issues that are likely to arise. In many cases, the attorney can play a part in negotiating a settlement agreement that addresses custody and visitation, among other matters.
Emotions may cloud financial issues in divorce
Wisconsin couples who are facing the end of their marriages must also take a look at their financial matters. Before sitting down with an attorney or another professional, they should look at their own income, debt and assets as well as that of their spouse. They should also look at their joint marital assets.
People may not realize how fully their financial situation might change after a divorce. In addition to paying child support and alimony, they may also have to take on a rent payment or factor in higher utilities. Property division might include splitting up a jointly owned business.
Dividing retirement accounts may be complicated because a lump-sum disbursement can trigger tax penalties. A financial or tax adviser might be useful in navigating some of these issues. It is also necessary to review documents and accounts that have a beneficiary designation such as life insurance. Because divorce can cause emotional turmoil, individuals who are divorcing do not always make the best decisions. Working with legal and financial professionals can be helpful in ensuring that they do not later regret the agreements they came to in a divorce settlement.
For example, people may wish to consult an attorney during their divorce even if the divorce is not acrimonious. Some decisions may have tax, legal or financial ramifications a spouse is unaware of. The situation can become particularly complex in higher-asset divorces. One spouse may attempt to conceal assets, or the process of determining what and where the assets are may be complicated. There might also be a dispute over what is considered joint marital property. For example, an inheritance may or may not be depending on factors such as whether the asset was commingled with other marital property. Furthermore, if the couple previously signed a prenuptial agreement, one might choose to challenge it in court.
Divorce mistakes and how to avoid them
When Wisconsin couples divorce, emotions often run high. What had once been a loving and respectful relationship is now coming to an end and there are likely to be bad feelings on both sides. Unfortunately, many divorces become far more difficult and expensive than they have to be because of choices made by one or both spouses during the process.
In many cases, draw-out disputes could be avoided if both partners took responsibility for their actions during the legal process. It is not unusual for partners to feel slighted, annoyed and even harassed by their soon-to-be ex-spouse. Unfortunately, the adverse effects of such behavior are compounded when the slighted spouse responds negatively. At this point, mudslinging becomes more important than carefully negotiating the terms of the divorce.
There are several ways in which couples can avoid this sort of conflict. One is to tap into social and professional resources, such as friends, support groups and counselors for help in managing the understandably confusing emotions that accompany marital breakups. The other is for each of the parties to take the time to find a divorce attorney who has a good understanding of his or her client’s needs and goals.
Scheduling a consultation with an attorney may be a very good option for many individuals facing the end of a marriage. The attorney may be able to review the case in its particulars and make suggestions regarding issues of spousal support, parenting time and asset division. In addition, the attorney may be able to handle delicate negotiations in a way that minimizes conflict between the spouses. This may result in a divorce that is less time-consuming and personally challenging for both parties.
Important items may be overlooked during divorce
Wisconsin couples who are going through the divorce have many things to consider, and some items might be overlooked as a result of the stress and emotions that often accompany the end of a marriage. A few tips may help the process go more smoothly.
A divorcing spouse should gather financial information together early. It may be helpful to make out a list, and copy all needed documents beforehand. That way, if documents disappear, the papers an individual needs will be safely gathered together. People should also remember that their retirement accounts, insurance policies, wills and other documents name beneficiaries. An individual who is divorced may be busy trying to get his or her life back together, and these important documents may be overlooked. Changing those beneficiary designations prevents an ex-spouse from collecting. In addition, if an individual is granted part of a retirement account as part of the divorce settlement, a qualified domestic relations order will need to be prepared and approved by the court.
Estranged spouses should ensure that personal items, family photos, mementos, jewelry and similar items are protected during a divorce. The safest place would be somewhere other than at the house, perhaps at a friend’s residence or placed into storage. During the divorce process, items might disappear. Afterward, because a newly divorced individual is busy, a delay in retrieving personal items may not guarantee that they will be there. Obtaining a copy of a credit report lets an individual ensure that all credit cards and bills are accounted for, so there are no surprises coming in the mail later. It also ensures that all debts are included in the property division.
The end of a marriage is often a time of great change, and consulting a family law attorney is a good first move. An attorney can provide advice and counsel at each stage of the process, including the negotiation and preparation of a comprehensive settlement agreement.
How divorce affects Wisconsin entrepreneurs
Entrepreneurs in the state of Wisconsin should be aware of the potential ramifications to their business before they divorce. Many entrepreneurs forget that their business is generally considered a marital asset and therefore is subject to consideration when assigning valuation to the estate, leading to unpleasant surprises in court when matters such as spousal maintenance, child support and other expenses are determined. By understanding how divorce may influence their business, entrepreneurs can better protect themselves.
During a divorce, all the assets of both partners are generally considered. This includes the business interests of both parties. For example, terminating a former spouse who still works for the business may lead to a further lawsuit for wrongful dismissal. Likewise, an entrepreneur must declare the business’s full value at the outset, because if the court discovers hidden assets later, the court is more likely to react negatively to the spouse who attempted to conceal them.
However, if the business was established before the marriage, the business may be considered non-marital property and therefore given less weight or not considered at all in the divorce. How the business is structured, when it was established and how much contribution the spouse made are all factors that may influence how the business is considered in divorce proceedings.
During a divorce, an attorney may start with establishing the valuation of the marital estate, including all assets and debts the couple shared. Once this has been done, the attorney, spouses and other counsel may work to craft a property division agreement that is fair and equitable to all parties. The attorney might then present the agreement to the judge, who may accept or reject the agreement depending upon other relevant factors in the case.