Educational Blog

One of the most frequently asked questions divorce attorneys hear is “How will our assets and debts be divided in the divorce?”

When a marriage ends, one of the biggest questions is how the couple’s assets and liabilities will be divided. As a marital property state, decisions about dividing property in Wisconsin generally start with the presumption that each spouse is entitled to one-half of the couple’s assets and one-half of its liabilities, regardless of whether those assets and debts are in one spouse’s name alone.

If your divorce involves retirement accounts such as a 401(k), 403(b) or pension plan, you may need a document called a qualified domestic relations order (QDRO) to divide those accounts. Retirement accounts often represent a significant part of a divorcing couple’s assets, so it’s important to understand what is involved in order to receive your share of those accounts after they have been divided by agreement or by the court.

Mistakes and missteps can occur in any divorce proceeding. However, people with significant assets, business interests and real estate holdings can find it especially challenging to navigate the tax and future financial implications of ending a marriage.