Divorce is a challenging and emotionally charged journey that often involves complex legal considerations. Amidst the turmoil, questions about the fate of one’s assets, including inheritances, can add an additional layer of stress and uncertainty. Did you obtain inheritance money while married and wonder what will happen to it during your divorce? While every situation is unique, Wisconsin law has clear specifications on the laws surrounding inheritance and divorce.
What Does Wisconsin Law Say About Inheritance During Divorce?
In Wisconsin, inheritance money obtained during the marriage is still considered separate property. Therefore, in the event of a divorce, the funds will not be subject to division between spouses. There are some reasons why your inheritance could be divided: Prenuptial agreements and transmutation of property.
Your Prenuptial Agreement May Include Inheritance Considerations
This is an agreement drafted and signed by both parties before marriage stating what and how things will be divided in the event of a divorce. These were once seen as negative legal documents that would hurt a marriage rather than aid it. Now, prenuptial agreements can be a prerequisite to a happy and healthy marriage and peace of mind in a relationship. Prenuptial agreements becoming more common has saved spouses time and money in the long run.
Transmutation of Property in Wisconsin
This occurs when a property once singularly owned by a spouse becomes marital property belonging to both spouses. If your inheritance falls into this category, it could be subject to division in the event of a divorce. For example, perhaps you and your spouse move into your inherited family home for the entirety of your marriage. Your spouse may even have their name on the deed. In this case, the family home, though initially inherited by one side, may be considered marital property by the court.
Contact a Wisconsin Family Lawyer in Appleton and Green Bay, Wisconsin
If you have questions or concerns regarding your inheritance and how it may relate to your divorce, please do not hesitate to reach out to Peterson, Berk & Cross, S.C. at (920) 831-0300. Our firm has earned a stellar reputation for providing effective solutions. We focus on providing practical legal advice tailored to each client’s unique needs for their divorce.