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Separation Agreement Wisconsin

June 29th, 2022 · No Comments

If you`re going through a divorce or separation in Wisconsin, a separation agreement can be an important tool for ensuring a smooth and fair division of assets and responsibilities. A separation agreement is a legally binding document that outlines the terms of the separation, including property division, spousal support, and child custody arrangements.

Unlike an informal separation, which is not recognized by the courts, a separation agreement provides legal protection for both parties and can help prevent future conflicts or disputes. It is important to consult with a qualified family law attorney to ensure that your separation agreement is comprehensive, fair, and legally enforceable.

What should be included in a separation agreement in Wisconsin?

Property division: Wisconsin is a community property state, which means that marital assets are generally divided equally between the parties in a divorce or separation. However, there are exceptions to this rule, and the parties may agree to a different division of property in their separation agreement. This may include the division of real property, personal property, bank accounts, investments, and retirement accounts.

Spousal support: Also known as alimony, spousal support may be awarded by the court or agreed upon in a separation agreement. The purpose of spousal support is to ensure that both parties are able to maintain a similar standard of living after the separation. Factors that may be considered when determining spousal support include the length of the marriage, the earning capacity of each party, and the needs of each party.

Child custody and support: If the parties have children, the separation agreement should address child custody and support arrangements. Wisconsin courts generally favor joint legal custody, which means that both parents share decision-making authority for the children. Physical placement (i.e. where the children will live) may be divided between the parties in a variety of ways, depending on the needs of the children and the circumstances of the parents. Child support may be calculated according to Wisconsin`s child support guidelines, or the parties may agree to a different arrangement that meets their needs.

Other issues: A separation agreement may also address other issues related to the separation, such as how debts will be divided, how taxes will be filed, and what happens if one party breaches the agreement.

In conclusion, a separation agreement can help make a difficult time less stressful by ensuring that both parties are able to move forward with a fair and equitable division of assets and responsibilities. If you`re considering a separation in Wisconsin, it`s important to consult with an experienced family law attorney who can help you draft a comprehensive and legally enforceable separation agreement.

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