Marital real estate agreements can also be used as a means of avoiding estates. The Wisconsin Marital Property Act provides that married persons may agree that after the death of a spouse, one or more of the assets of both spouses, including acquired property, may be transferred without inheritance to a designated person, trust or other agency. As a result, marital real estate agreements that determine the distribution of a married person`s assets can protect these assets from the estate if the asset is located in Wisconsin. Living trust is one of the most effective ways to ensure that your property is protected from death. Wisconsin is the only state in the nation that can fund a living trust after grantor`s death, while avoiding succession. Marital property agreements can also protect one spouse from the other spouse`s creditors. Once you are married, any debts or debts that are brought into the marriage or that were incurred by your spouse during the marriage are considered yours. A pre-marriage agreement or post-marriage agreement can protect your separate assets and income from creditors` claims against your spouse, provided the creditor is informed of the agreement. In the area of estate planning, marital agreements can also be an important element, especially if you have children from a previous marriage or relationship. In the absence of adequate documentation, your children are entitled to half of your estate, while your spouse is entitled to the other half.
Even if you indicate unequal distributions in your will, your spouse can assert his or her right to the spouse`s share (50 per cent of the estate). A marriage contract allows you to make unequal distributions to protect the interests of your children. Marital real estate agreements, also known as marital or post-marriage agreements, are an effective way to define how property should be distributed in the event of divorce. They are also an effective tool for estate planning. A matrimonial property contract is a flexible written document, drawn up exclusively between the marital spouses, relating to the rights and obligations of each spouse with respect to the property of both spouses, regardless of when it was acquired or where it is located. Typically, Wisconsin law treats all income and property acquired by a couple after marriage as „marital property.“ Marital property contracts allow spouses to structure and change the way in which all or part of their property is classified in accordance with the law.