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Wisconsin Family and Estate Planning Blog

Determining if a collaborative divorce is right for you

Ending a marriage can be a very difficult and painful process. However, there are ways to make it a little easier and a little less contentious.

One option is a collaborative divorce. Collaborative divorce tackles the same issues as any other divorce, but it does so through a specific approach that can make the process more respectful, faster and a little easier. Below are some tips to help you determine if a collaborative divorce could be a good fit for your situation.

How long does probate take in Wisconsin?

Settling a person's affairs after he or she dies can be complicated and overwhelming for people who are also struggling with grief. However, there is a process in place to ensure everything is resolved properly and fairly: probate.

Probate is the legal process of transferring a person's assets and paying his or her liabilities. Because of what it entails and what may be at stake, loved ones often want to know how long this process takes.

How to protect a business during a divorce

Divorce is a challenging experience for every couple. Between dividing all your belongings and changing the family dynamic, divorce changes your entire life. And it may quickly change your career if you are a small business owner.

How are businesses divided during divorce?

There is no clear cut answer for every business. Each divorce has unique circumstances that affect how the company is split in court.

Seeking a quick divorce? Don't make these mistakes

People typically don't decide to divorce on a whim. For many couples, it is only after they have exhausted all other efforts to repair or improve the marriage that they decide to divorce. Under these circumstances, getting through the process quickly can be a top priority.

Rushing through a divorce is unwise, and the process does take time. However, there are steps parties can take to expedite the process. There are also mistakes people make that can drag it out. If you are looking to get through a divorce more quickly, you should not make these missteps:

Prenuptial agreements are becoming more common

Talk of a prenuptial agreement used to be a taboo subject–one that when discussed could cause bad feelings and conflict between soon-to-be-spouses. But thanks to a younger generation, they are becoming more common and less unthinkable.

A prenuptial agreement, also called a prenup, is a legal document that outlines a framework for a couple’s financial expectations and responsibilities in the event of a divorce. A prenup can safeguard your property, make your financial intentions transparent and ease any tension between you regarding money.

3 reasons to make estate planning a 'pet' project

People tend to dismiss the idea of creating an estate plan if they don't have complex assets or divisive family relationships. Often, they assume that the state laws will suffice when it comes to determining what should happen to their property, debts and other end-of-life matters.

While that may be true for some people, such an oversimplification of estate planning leaves out critical -- if overlooked -- details. For instance, if you have pets, estate planning can be a crucial for a few reasons. 

3 important things to know before paying someone else's debts

After a person passes away, his or her estate must be settled. This includes distributing property, which people typically expect. But it also includes paying off debts, which can catch some people by surprise.

Before you write a check or make any type of payment on any debt, you would be wise to confirm that it is indeed your responsibility to do so.

3 types of property that can be especially difficult to divide

Divorce involves much more than legally ending a marriage. It also means dividing up the marital assets and distributing them equally between each party. Because this process has considerable financial and emotional ramifications, it can be one of the most contentious aspects of a divorce.

This is particularly true when it comes to certain properties that are more difficult to divide. Below, we examine some of these assets and how to handle division.

What are the benefits of a prenuptial agreement?

The new year is just around the corner, and this means people are making plans and resolutions to make 2019 better than 2018. For people getting married in 2019, it will almost certainly be a good year.

If you are among those planning a wedding in the new year, then it may be wise to make discussing a prenuptial agreement one of your resolutions. Too often, people dismiss these agreements because they seem unromantic or unnecessary. But the fact is, there are many reasons why couples can benefit from having a prenup in place.

Going through divorce with debt

Wisconsin is one of a few states that considers property – and debts – accrued during marriage as community property. This means that during a divorce, community property and debt is evenly distributed.

There’s a catch: Even if one party agrees to pay off a particular debt, both parties remain responsible after the divorce. If one party doesn’t pay the debt as agreed, the creditor will come after the other partner no matter what agreements were reached or the amount of time that has lapsed since the divorce.

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