Milwaukee Prenuptial Agreement Attorneys Help You Make a Plan
What Are They?
A Prenuptial Agreement is a contract entered into before marriage. It determines how property/debts will be classified if there is divorce or death of either party. Wisconsin is a marital property state. After a couple is married, all assets and debts become marital (with very few exceptions). All assets and debts are considered joint, no matter who purchased them or who incurred the debt.
Why Have One?
The purpose of a prenuptial agreement is to reclassify how property will be defined in a marriage. Prenuptial agreements often come into play when one party is entering into the marriage with significantly more assets (or debt) than the other party. Another common reason is when one party has children from a previous marriage. A prenuptial agreement allows the parties to decide whether assets, income or debts (accumulated prior to the marriage or during the marriage) will be classified as separate property or marital property.
Can I Draft My Own?
Prenuptial agreements can significantly alter your rights to property division, debt division or maintenance in the event of divorce or the death of a spouse. We recommend both parties consult an attorney prior to entering into any such agreement. If you or your potential spouse are considering a prenuptial agreement, our Milwaukee Family Law Attorneys will advise you.