By Attorney Max Stephenson

Although studies show that approximately 40 to 50 percent of all U.S. marriages end in divorce, 70 percent of those spouses who get a divorce end up remarrying later in life. A second marriage can bring much happiness and a new lease on life for those people whose first unions did not work out. However, to avoid rushing into a second marriage shortly after a divorce, some states have a mandatory waiting period. Be sure to brush up on your state’s guidelines and contact an experienced divorce attorney before considering remarriage.

By Attorney Max Stephenson

The coronavirus has had a staggering effect on the United States’ business infrastructure, the unemployment rate, and the economy as a whole, but it has also had a more personal impact, affecting our family dynamics and how we go about our daily lives. Currently, many states and cities are attempting to reopen the economy and work towards introducing a new normal. However, for those who are in the midst of a divorce or child custody case, that new normal will contain a variety of additional issues that will need to be addressed.

Whether you need to address trial postponements or child custody orders, you may be struggling with uncertainty about how your case should be handled. To ensure that these matters are addressed properly, you should work with a family law attorney who can help you determine the best steps to take to achieve success in your case. 

By Attorney Max Stephenson

When parents get divorced, they will need to determine where their children will primarily live and the amount of time they will spend with each parent. In Wisconsin, this is known as physical placement. Parents may be able to reach an agreement in these matters as part of their divorce settlement, or these and other child custody issues may need to be decided by the court. 

Determining Physical Placement

If a child’s parents are unable to reach an agreement regarding their child’s physical placement, a judge will need to make decisions about how these matters should be handled. Wis. Stat. § 767.41 provides a number of different factors that a judge should consider to determine what is in the child’s best interests, including:

By Attorney Max Stephenson

During your divorce, you and your spouse will need to resolve issues regarding the custody of your children. In Wisconsin, child custody may be granted solely to one parent, giving them the responsibility to make decisions about how the child will be raised. However, in most cases, the court will decide that the parents should have joint or shared custody, and divorced or separated parents will work together to make decisions for their children. Joint custody is usually appropriate if both parents are able to perform parental duties, are able to work together, and have no current conditions or conflicts that would affect the children or their environment.

In addition to child custody, a divorce agreement will address the physical placement of children, which refers to the time the child will spend with each parent. Even if one parent is granted sole custody, the other parent may be allocated a reasonable amount of physical placement.

Splitting assets in a divorce can be a stressful process. In many cases, retirement accounts are some of the most valuable assets owned by a couple, and as with other marital property, they should be divided equally between spouses. Even if you do not expect to use the funds in your retirement account until many years in the future, it is still considered a marital asset that is measured by its current or predicted value. Unless your retirement accounts were established prior to your marriage or are protected within a prenuptial or postnuptial agreement, they will need to be split 50/50 between you and your spouse.

Addressing Common Types of Retirement Accounts

The three major types of retirement benefits that may need to be divided during a divorce include:

• IRAs - An individual retirement account that can house a wide variety of financial products, including stocks, bonds, and mutual funds. 
• 401(k)s - A 401(k) plan is a company-backed retirement account that employees can contribute to. In many cases, employers will match a certain percentage of an employee’s contributions.
• 403(b)s - A 403(b) is a retirement account for certain employees of public schools and tax-exempt organizations. Those who may have a 403(b) account include teachers, school administrators, professors, government employees, nurses, doctors, and librarians.

Splitting Retirement Accounts

Retirement savings can be split in one of two ways: