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What is the purpose of a marital settlement agreement?
Generally, this is agreement resolves all rights and obligations that apply in your case. It should include ALL items listed in the PETITION and the RESPONSE, if one was filed. These items include division of property, child custody and visitation, along with child and spousal support.
What is the difference between a marital settlement agreement and a divorce decree?
You can think of the marital settlement agreement as the preliminary process required when getting divorced. On the other hand, a divorce decree legally mandates that you are divorced in the eyes of the law.
What is the easiest way to get a divorce in Wisconsin?
The quickest and least-expensive route to uncontested divorce in Wisconsin is to reach a comprehensive agreement with your spouse before you file a joint divorce petition.
What happens when an ex-spouse breaks the marital settlement agreement?
As we have noted, since an MSA is a court-approved legal document, if one of the parties violates the terms you can be held in contempt. The violator can face penalties like fines, community service, and even jail time if the court considers the breach severe enough.
Do you need a marital property agreement in Wisconsin?
In Wisconsin, a Marital Property Agreement can be a valuable tool for estate planning, particularly for transferring property without going through probate, the legal process of distributing a deceased persons estate, which is often both time-consuming and costly.
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What is a marital settlement agreement in Wisconsin?
At the final hearing, the court utilizes the marital settlement agreement as a foundation for how the parties will divide their property, assets, and debts. Once filed, the document provides indemnity for each party against future debts the other may incur.
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