Going through a divorce requires preparation, as you will face hurdles along the way. However, the process has pain points that can catch you off guard. Understanding what these are can help you regain focus on protecting your future.
The 50/50 community property division
In Wisconsin, the courts follow the community property principle. A judge can presume that all marital assets and debts should be split in half, but they can deviate from such a presumption based on statutory factors. These can include length of marriage, assets brought into the union and each party’s earning capacity.
If you have a prenuptial agreement set, consider reviewing its provisions. Generally, this document can protect your assets from being split 50/50. However, if you do not have one, it would be best to gather your financial statements and audit your assets. Hiding assets intentionally can lead to heavy court sanctions.
The mandatory 120-day waiting period
Another pain point to consider is the state’s 120-day waiting period after the initial filing before the finalization of a divorce. While you want to move on immediately, you must follow this protocol.
Shift your focus from the conflict to your kids, which can help stop the emotional and mental stress from taking over. Use this time to work on your placement schedule and financial planning.
The child custody dispute
A divorce becomes more complex once you start discussing child custody with your spouse. While you agree to co-parent through joint legal custody with your spouse, you may have difficulties in creating a fair parenting plan. Conducting mediation to settle this matter can be a viable solution.
Handling divorce matters with help
Family law in Wisconsin is full of nuances. While you may have a good general understanding of divorce statutes, it is possible to encounter issues you did not expect. The best way to overcome obstacles is to consult an experienced attorney. Their knowledge and experience can be a valuable resource for clarity.