Wisconsin Uniform Marital Property Act for CPA"s
Read Online

Wisconsin Uniform Marital Property Act for CPA"s

  • 394 Want to read
  • ·
  • 4 Currently reading

Published by Professional Education Systems in Eau Claire, Wis .
Written in English



  • Wisconsin.


  • Marital property -- Wisconsin.

Book details:

Edition Notes

Other titlesUniform Marital Property Act for CPA"s.
StatementRichard Langer ... [et al.].
ContributionsLanger, Richard J.
LC ClassificationsKFW2497.Z9 W57 1985
The Physical Object
Pagination116 p. :
Number of Pages116
ID Numbers
Open LibraryOL2657082M
LC Control Number85241631

Download Wisconsin Uniform Marital Property Act for CPA"s


Wisconsin’s Marital Property law may be found at Chapter , Wis. Stats (PDF: external link). There are many provisions of this law that may be relevant to creditors who offer or extend credit to Wisconsin residents. Following is a brief overview of several aspects of the marital property law. Marital property includes all income and possessions a couple acquires after their "determination date" (with certain exceptions). The determination date is the latest of: the couple's marriage day; the date when they both took up residence in Wisconsin; or Jan. 1, Wisconsin’s Marital Property Law Rights of the Spouse Generally, the non-applicant spouse is treated like a customer and stands in the shoes of the applicant spouse insofar as rights and remedies under the Wisconsin Consumer Act are concerned (Sec. , Stats. (PDF: external link)). The Wisconsin Marital Property Act creates a type of property under state law that is referred to as marital property. The IRS has ruled that marital property in Wisconsin is a form of community property, and is to be treated that way for tax purposes.

  During the divorce process, property is divided according to its status as "marital property" -- that which was acquired after the marriage and is thus shared -- or personal property that is not subject to division. The marital property concept is rooted in Spanish law and is now widespread. Wisconsin marital property laws are unique when compared to laws in other states, primarily . In addition, the Wisconsin Marital Property Act only requires that a marital property agreement be executed by both spouses. Keep in mind, of course, that the use of certain estate planning documents without witnesses (and often notarization) may result in their rejection by certain financial institutions and may prohibit their use in real. Note NOTE: See notes in Wis. marital property trailer bill. Note NOTE: Wis. Act contains explanatory notes. Annotation Accounts receivable of a medical clinic in which the husband was a partner were properly viewed by the trial court as salary. personal property (i.e. cash, CD's, stocks, bonds, vehicles, machinery, promissory notes, etc.). The list should include the estimated value of each asset and how each asset is owned (i.e. solely, jointly, marital, payable at death, etc.). If you are not able to obtain all .

Find what you need faster amidst the complex and dynamic laws pertaining to probate and estate issues with the edition of Wisconsin Probate and Estate Planning Statutes. The relevant statutes were originally compiled by volunteer attorneys from the State Bar of Wisconsin’s Real Property, Probate, and Trust Law Section, and are added to through suggestions from practicing attorneys who. The Wisconsin Marital Property Act assumes that both parties contribute to the support of the marriage even if only one spouse is working outside of the home. This process differs from many states that have Equitable Division. Equitable division is a division of the marital assets between the parties in a fair, but not necessarily equal manner. Any part of marital property that would have been property of the spouse but for the marriage or the enactment of Wisconsin’s Marital Property Act, and The couple’s community property is off-limits to judgment-creditors, but not to the IRS, which can reach the marital property of the debtor spouse, which is presumably half of all community. January 1, Wisconsin was the first (and is still the only) state to adopt a version of the Uniform Marital Property Act (UMPA).' However, Wisconsin did not adopt the exact version of the UMPA approved by the National Conference of Commissioners on Uniform.