According to Wisconsin marital property law, all property of spouses is presumed to be marital property. If you wish to override this presumption, then you and your fiancé should enter into a prenuptial agreement. The process does not need to be an adversary one. Rather, your prenuptial agreement can simply allow the spouses to control the character of each spouse’s property by virtue of title throughout your marriage. For example, the agreement can provide that all assets titled solely in your name are your individual property, all assets titled solely in your fiancé’s name are his or her individual property, and all assets titled in both names are joint marital property. In Wisconsin, there are strict requirements to ensure your prenuptial agreement is legally binding. Therefore, it is advisable to contact a qualified attorney to draft this agreement well before your wedding date. Further, in order to ensure your assets pass to your intended beneficiaries upon your death, each spouse should also have a solid estate plan in place.
- Spring Summit 2022: Celebrating Friendship in the Lone Star State - June 15, 2022
- What Makes a Will or Trust Invalid - June 2, 2022
- How Estate Planning Documents Help Prevent Elder Abuse - May 26, 2022