Mediation

A very popular option for divorcing couples is to jointly hire a mediator to assist them with resolving all of the issues involved in a divorce. Attorney Karls does not provide legal advice to either party, but instead ensures that all issues are addressed, that both parties are educated regarding the various issues, that both parties are heard, and that the Marital Settlement Agreement is clear and accurately represents the parties’ agreement, and that the parties are able to reach an agreement that will be approved by the court.

Mediation is appropriate in cases where the parties are able to work together and wish to control their own fate, rather than leave these life-changing decisions to a judge. Mediation can be a less expensive method to resolve the legal issues. Other professionals join the mediation team as necessary – for example a financial specialist to help determine options for dividing property, debts, and income, a coach to help the parties with the emotional aspects of divorce, or a child specialist to assist with child-related issues.

Property Division in a Wisconsin Divorce

The division of property can be a confusing and difficult issue to resolve, and can have a significant financial impact on parties to a divorce.  The assistance of a skilled attorney is invaluable to ensure that all assets are identified, appropriate values are determined for each asset, the terms of the equalizing payment are clear and concise, and that the overall division of property is fair and equitable.

Many clients are dismayed to learn that they are not automatically entitled to keep the property they brought into a marriage.  In fact, Wisconsin law states that all property is subject to equal division, other than gifts or inheritances from a third party to one spouse.  However, a myriad of factors may impact the division of property:

  • The length of the marriage;

  • The property brought to the marriage by each party;

  • Whether one of the parties has substantial assets not subject to division;

  • The contribution of each party to the marriage, giving appropriate economic value to each party’s contribution in homemaking and child care services;

  • The age and physical and emotional health of the parties;

  • The contribution by one party to the education, training or increased earning power of the other;

  • The earning capacity of each party, including educational background, training, employment skills, work experience, length of absence from the job market, custodial responsibilities for children, and the time and expense necessary to acquire sufficient education or training to enable the party to become self-supporting;

  • The desirability of awarding the family home (or the right to live therein for a reasonable period) to the party having physical placement for the greater period of time;

  • The amount and duration of a maintenance or family support award, and whether the property division is in lieu of such payments;

  • Other economic circumstances of each party, including pension benefits, vested or unvested, and future interests;

  • The tax consequences to each party;

  • Any written agreement made by the parties before or during the marriage; and

  • Any other factor the court determines to be relevant

Understanding these factors, and applying them to your unique circumstances, can be overwhelming.  Protect your financial future by hiring an experienced attorney to help you understand your options and obtain a fair division of property.

For more information about property division, or about divorce in general, please contact our office.

Maintenance and Section 71 Payments

Maintenance (also referred to spousal support or alimony) is a payment from one spouse to the other, for the support of the recipient. Section 71 payments are very similar to maintenance, but unlike maintenance, cannot be modified.  Maintenance is not ordered in many cases. In the cases where maintenance is awarded, the amount and duration of maintenance varies significantly from case to case.

Maintenance can be one of the most important – and most difficult – issues to resolve in a divorce.  Not fully understanding your rights with respect to maintenance can have devastating and permanent consequences.  The experienced attorneys at Koritzinsky & Karls, LLC can help you understand this complicated area, and make sure that your financial future is protected.

When determining the amount and duration of maintenance, the court can consider a number of factors:

  1. The length of the marriage;

  2. The age and physical and emotional health of the parties;

  3. The division of property;

  4. The educational level of each party at the time of marriage and at the time the divorce is commenced;

  5. The earning capacity of the party seeking maintenance, including educational background, training, employment skills, work experience, length of absence from the job market, custodial responsibilities for children, and the time and expense necessary to acquire sufficient education or training to enable the party seeking maintenance to find appropriate employment;

  6. The feasibility that the party seeking maintenance can become self-supporting at a standard of living reasonably comparable to that enjoyed during the marriage, and the length of time necessary to achieve this goal;

  7. The tax consequences to each party;

  8. Any mutual agreement made by the parties before or during the marriage;

  9. The contribution by one party to the education, training or increased earning power of the other; and

  10. Any other factor the court determines to be relevant

Understanding these factors can be daunting, to say the least, and applying the factors to your unique circumstances can be even more so.  We understand that while protecting your financial future is critical, other factors may be important as well, such as ensuring that the children are adequately supported in both homes, or reducing future conflict.  We will help you balance all of these competing factors to reach an agreement that is best for you.

For more information on maintenance, or on divorce in general, please contact our office.

Why Hire An Attorney?

Divorce is an extremely complicated and difficult process.  An attorney will help you identify all of the issues that need to be addressed, help you fully understand your options with respect to each issue, and ensure that you understand the legal consequences of each option.  Your attorney will help you make smart financial decisions with respect to maintenance, child support, property division, and tax issues. Your attorney will also draft and file all of the necessary documentation.

If you have children, own assets such as retirement, real estate or a business, or if one spouse earns more than the other, hiring an attorney is crucial, as many decisions made in a divorce are final, and cannot be revisited.  A mistake can be very costly.

For more information about divorce, please contact our office.