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Milwaukee, WI divorce lawyers, Wisconsin child custody case, child custody case, Wisconsin family law, divorcing parentsDuring a divorce, disputes about how parents will divide responsibility for their children and where children will live can be highly contentious. When divorcing parents in Wisconsin are working to make decisions about their children, it is important to understand how the state’s child custody laws affect these matters.

Legal Custody and Physical Placement

Wisconsin law divides decisions about child custody into two categories: legal custody and physical placement. Legal custody involves the right to make decisions about a child’s care and upbringing, including the medical care he or she receives, where he or she will go to school, the choice of religion, and permission to obtain a driver’s license, join the military, or get married. Physical placement (also known as visitation) refers to the time a child spends in each parent’s care.

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Milwaukee prenuptial agreement lawyers, Wisconsin prenup, marital property agreement, marriage and finances, spouse’s rightsIf you are planning to get married, you are likely looking forward to a future of happiness and partnership with your spouse. However, you may also wish to make sure you are protected should your marriage ever come to an end. A prenuptial agreement can be beneficial, especially if you or your fiancée earn a high income or own a business or if one of you has children from a previous relationship. This type of agreement can provide peace of mind that your financial interests will be protected, and it can help you avoid conflict if you decide to get a divorce.

What Can Be Included in a Prenup

Under Wisconsin law, a prenuptial agreement is also known as a marital property agreement and can include the following:

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Milwaukee juvenile and family court attorneys, juvenile court, family court, CHIPS action, parental rightsBy Max Stephenson and Ray Dall’Osto

A child in need of protection or services (CHIPS) action is brought under Chapter 48, Wis. Stats., when a child (person under age 18) is believed by the government to be in need of protection and/or services. Such cases are initiated, and juvenile court jurisdiction exists under section 48.13, over a child when the child is:

1. Without a parent or guardian;

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spousal maintenance, child support payments, divorcing spouses,  Milwaukee divorce attorneys, federal tax reformIn December 2017, Congress passed the Tax Cuts and Jobs Act, which made the most significant changes to the federal tax code in the last three decades. Since the tax reform law was passed, the news has been filled with discussion of its impact on people in the United States.

While many reports have focused factors such as corporate tax rates, one less-discussed update to the law will have a major impact on divorcing couples, changing the way taxes apply to spousal maintenance (also known as alimony or spousal support).

How is Spousal Maintenance Taxed?

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Milwaukee divorce lawyers,  divorce settlement, divorce negotiation, favorable divorce settlement, division of assetsWhen married couples decide to divorce in Wisconsin, a variety of legal requirements must be met to finalize the dissolution of marriage. While many of the outstanding issues that must be resolved can be settled in court through litigation, spouses are more often able to reach an agreement through negotiation or mediation.

As spouses work to negotiate a settlement in their divorce, they must be sure they understand and address the following issues:

1. Division of assets and debts - Wisconsin is a community property state, which means that the property a couple owns and the debts they are responsible for will be divided equally between the spouses during divorce. However, this division can become complicated, especially when considering factors such as the value of different types of property (including real estate, investment and retirement accounts, and closely held businesses), the tax consequences of property division, the spouses’ earning ability, and the value of assets that are not considered communal property. Spouses should take steps to fully understand the implications of the decisions made regarding the division of property, thus making sure that they will have the financial resources needed following divorce.

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