Property Division Lawyers

Asset and debt division, commonly referred to as “property division,” are two of the most important and complex aspects of a divorce. This is where the team at Nelson, Krueger & Millenbach, LLC, can provide their expertise in unraveling the complexity of property division. Our divorce lawyers work to educate you on the possibilities for your property division while prioritizing cooperative, effective dispute resolution whenever possible. However, if an agreement cannot be reached, we are prepared to represent you tenaciously in contested property disputes.

Call us at 414-939-0529 or send us a message to schedule a consultation with us, so we can discuss your complex property division case and how we can help.

Property Division For High Net Worth Individuals

When high net worth couples get divorced, they can face some unique challenges. They must understand what legal steps to take to protect their assets and their rights. Examples include:

• Valuation of business interests: Spouses who own a business together may need to divide it, but even a spouse who is not on the ownership team may have a right to a percentage of the value. Engaging the right expert to value a business is key in a divorce case.
• Executive compensation packages: Executive compensation and perquisites including but not limited to base salary, stock options, restricted stock units and deferred compensation are complicated and nuanced. Engaging an attorney who understands all aspects of executive compensation and how they are to be divided in divorce is necessary to ensure a proper division.
• Multiple real estate properties: Couples with multiple properties may divide them, sell the properties and divide the earnings, or agree on co-ownership arrangements post-divorce. Each option comes with consequences such as capital gains and possible 1031 benefits, exploring all available options with an experienced attorney is pivotal.
• Trusts and inheritance issues: An inheritance is often considered a separate asset, not subject to division in a divorce case, but there may be exceptions, such as when it has been commingled during the marriage. Trusts are unique assets which require a thorough understanding of the structure of the trust as well as the history of distributions to ascertain what, if any, portion of the trust is relevant to the property division.
• Art collections and other valuable personal property: It is critical to have an expert valuation completed by a professional appraiser to determine the true value of a collection, which can be vastly different from the original purchase price.
• Pet custody and luxury livestock: Purebred pets, competition animals and horses can carry both sentimental and significant financial value, and Wisconsin courts increasingly account for both when deciding who keeps them.
• Reputation management and brand value: When one spouse owns a well-known local business, the goodwill and public reputation tied to that brand can itself be treated as a divisible asset, separate from the business’s physical or financial assets.
• Club memberships and season tickets: Memberships to professional sports teams, especially season Packer tickets, along with arts organizations such as the Milwaukee Symphony Orchestra, the Charles Allis Museum or the Milwaukee Art Museum, may carry real transfer value or waitlist status worth protecting in a settlement.
• High-value life insurance policies: Policies with significant cash value, or those required to secure future support obligations, need careful review to determine what portion is marital property.
• Family foundations and charitable entities: Couples who have established a family foundation or other charitable vehicle need to address how that entity is governed and funded going forward, separate from the divorce itself.
• International assets and jurisdictional issues: Property, accounts or business interests held outside the United States can raise questions about which country’s laws apply and how a Wisconsin court’s order will be enforced abroad.
• Digital assets and cryptocurrency: Cryptocurrency holdings, NFTs and other digital assets can be difficult to trace and value and require specific expertise to identify and divide accurately.
• Intellectual property and royalties: Patents, trademarks, copyrights and ongoing royalty streams can continue generating income long after a divorce is final, which raises questions about how future earnings should be divided.

Given how varied these assets can be, we often work alongside appraisers, forensic accountants and other financial professionals to make sure nothing gets overlooked and everything is valued accurately.

How Do Marital Property Laws And Division Of Assets Work?

Wisconsin is a marital property state. This means that upon marriage all property owned by each spouse is considered marital property and divisible by the court at the time of divorce. In a Wisconsin divorce, the courts presume that all assets and debts will be divided equally. However, certain factors like prenuptial agreements, length of marriage and contribution to the marriage can affect this division.

In some cases, the duration of the marriage can impact property division when the court considers assets brought into the marriage. This is most often true when the marriage was very short – perhaps the couple divorced after just a year or so. The court may determine that it is not reasonable to divide assets equally in such cases if the marriage is short and one party brought assets into the marriage.

Our Wisconsin marital property division attorneys will help you understand how these laws apply to your situation and work to ensure a fair asset distribution arrangement, whether you have simple or complex property to divide.

Experience Dividing Wisconsin Real Estate In Divorces

Dividing real estate in a divorce can seem immensely complicated. Common examples of real properties frequently subjected to property division disputes include:

• The marital home
• Cabins
• Rental homes or business properties
• Vacation properties

There are various options for dividing real estate. One option is to sell the property and divide the proceeds. Another is for one spouse to buy out the other’s share. In some cases, couples may choose to co-own the property temporarily or even post-divorce. Our divorce attorneys will guide you through these options and help you decide what is best for your situation.

Tips: Lawyers Simplifying Complex Property Division

There are many different issues that a spouse needs to overcome during a divorce. Child custody agreements and support/alimony negotiations can be challenging, but property division is notorious for being a major problem for spouses to work through. There is a lot that spouses need to know about property division, including how to prepare for negotiations.

Here are a few tips you can use to benefit your property division process:

• Value your assets: Before you begin negotiations over the house, car or boat, make sure you know what they are worth. The price you paid when you bought it may not accurately reflect its current value. Your lawyer will have your assets appraised so you can negotiate over accurate figures. This includes your home, pensions or business interests, which sometimes are difficult to value. An experienced divorce attorney will know how to handle these types of issues.
• Have a goal in mind: Before you enter negotiations over your assets, have a few specific goals in mind of what you want to keep in your divorce. These goals can help you keep focused on the task at hand rather than get swept away in heated arguments in the negotiations.
• Remain flexible: While having goals in mind is good, do not cling too tightly to them. If you are adamant about keeping your motorcycle, you may find yourself giving up more than you should during negotiations.
• Let a property division attorney help you: Even if you and your spouse are attempting to have a no conflict divorce, make sure you have an attorney assist you in your divorce process. An attorney’s guidance can also help you prepare yourself for property division and develop a strategy that protects your best interests.

Keeping these tips in mind won’t make property division simple, but it can help you go into negotiations prepared, realistic and less likely to make costly mistakes along the way.

Contact A Property Division Attorney About A Consultation

At Nelson, Krueger & Millenbach, LLC, we are dedicated to helping you navigate property division with ease and confidence. Our Wisconsin marital property division lawyers are here to protect your rights and ensure a fair outcome. Contact us today in Milwaukee at 414-939-0529, in Waukesha at 262-307-2775 or send us an email to schedule a consultation.