SB907,227
3Section
227. 766.587 (7) (form) 9. of the statutes is amended to read:
SB907,86,84
766.587
(7) (form) 9. BOTH SPOUSES MUST SIGN THIS AGREEMENT. IF
5SIGNED BEFORE JANUARY 1, 1986, IT IS EFFECTIVE ON JANUARY 1, 1986,
6OR THE DATE THE PARTIES MARRY, WHICHEVER IS LATER. IF SIGNED ON
7OR AFTER JANUARY 1, 1986, IT IS EFFECTIVE ON THE DATE SIGNED OR THE
8DATE THE PARTIES MARRY, WHICHEVER IS LATER.
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STATUTORY INDIVIDUAL
10
PROPERTY CLASSIFICATION AGREEMENT
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(Pursuant to Section 766.587, Wisconsin Statutes)
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This agreement is made and entered into by .... and ...., (
husband and wife who
13are married) (who intend to marry) (strike one).
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The parties to this agreement agree to classify all their property, including
15property owned by them now and property acquired before January 1, 1987, as the
16individual property of the owning spouse, and agree that ownership of their property
17shall be determined as if it were December 31, 1985.
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This agreement terminates on January 1, 1987.
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Signature .... Date ....
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Print Name Here: ....
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Address: ....
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Signature .... Date ....
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Print Name Here: ....
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Address: ....
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1[
Note: Each spouse should retain a copy of the agreement for himself or
2herself.]
SB907,228
3Section
228. 766.588 (9) (form) 13. of the statutes is amended to read:
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766.588
(9) (form) 13. IF AFTER ENTERING INTO THIS AGREEMENT ONE
5OR BOTH OF YOU ESTABLISH A DOMICILE OUTSIDE THIS STATE, YOU ARE
6URGED TO SEEK LEGAL ADVICE CONCERNING THE CONTINUED
7EFFECTIVENESS OF THIS AGREEMENT.
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8Statutory terminable marital
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9Property classification agreement
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(Pursuant to Section 766.588, Wisconsin Statutes)
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This agreement is entered into by .... and .... (
husband and wife who are
12married) (who intend to marry) (strike one). The parties hereby classify all of the
13property owned by them when this agreement becomes effective, and property
14acquired during the term of this agreement, as marital property.
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One spouse may terminate this agreement at any time by giving signed notice
16of termination to the other spouse. Notice of termination by a spouse is given upon
17personal delivery or when sent by certified mail to the other spouse's last-known
18address. The agreement terminates 30 days after such notice is given.
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The parties (have) (have not) (strike one) completed Schedule “A", “
Financial
20Disclosure", attached to this agreement. If Schedule “A" has not been completed, the
21duration of this agreement is 3 years after both parties have signed the agreement.
22If Schedule “A" has been completed, the duration of this agreement is not limited to
233 years after it is signed.
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IF THE DURATION OF THIS AGREEMENT IS NOT TO BE LIMITED TO 3
25YEARS, MAKE SURE SCHEDULE “A", “FINANCIAL DISCLOSURE", IS
1COMPLETED AND THAT YOU HAVE REVIEWED THE SCHEDULE BEFORE
2SIGNING THE AGREEMENT. IF YOU AND YOUR SPOUSE HAVE PREVIOUSLY
3ENTERED INTO A STATUTORY TERMINABLE MARITAL PROPERTY
4CLASSIFICATION AGREEMENT WITH EACH OTHER WHICH WAS
5EFFECTIVE DURING YOUR PRESENT MARRIAGE AND YOU AND YOUR
6SPOUSE DID NOT COMPLETE SCHEDULE “A", YOU MAY NOT EXECUTE THIS
7AGREEMENT IF YOU DO NOT COMPLETE SCHEDULE “A".
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Signature of One Spouse: ....
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Print Name Here: ....
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Residence Address: ....
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(Make Sure Your Signature is Authenticated or Acknowledged Below.)
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13Authentication
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Signature .... authenticated this .... day of ...., .... (year)
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TITLE: MEMBER STATE BAR OF WISCONSIN
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(If not, .... authorized by s. 706.06, Wis. Stats.)
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18Acknowledgment
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STATE OF WISCONSIN
)
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.... County
)
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Personally came before me this .... day of ...., .... (year) the above named .... to
23me known to be the person who executed the foregoing instrument and acknowledge
24the same.
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1Notary Public ...., .... County, Wisconsin.
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My Commission is permanent.
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(If not, state expiration date: ...., .... (year))
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(Signatures may be authenticated or
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acknowledged. Both are not necessary.)
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*Names of persons signing in any capacity should be
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typed or printed below their signatures.
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Signature of Other Spouse: ....
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Print Name Here: ....
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Residence Address: ....
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(Make Sure Your Signature is Authenticated or Acknowledged Below.)
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13Authentication
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Signature .... authenticated this .... day of ...., .... (year)
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TITLE: MEMBER STATE BAR OF WISCONSIN
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(If not, .... authorized by s. 706.06, Wis. Stats.)
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18Acknowledgment
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STATE OF WISCONSIN
)
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.... County
)
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Personally came before me this .... day of ...., .... (year) the above named .... to
23me known to be the person who executed the foregoing instrument and acknowledge
24the same.
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1Notary Public ...., .... County, Wisconsin.
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My Commission is permanent.
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(If not, state expiration date: ...., .... (year))
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(Signatures may be authenticated or
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acknowledged. Both are not necessary.)
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*Names of persons signing in any capacity should be
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typed or printed below their signatures.
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8Termination of statutory terminable
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9marital property classification agreement
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I UNDERSTAND THAT:
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1. THIS TERMINATION TAKES EFFECT 30 DAYS AFTER MY SPOUSE IS
12NOTIFIED OF THE TERMINATION, AS PROVIDED UNDER SECTION 766.588
13(4) OF THE WISCONSIN STATUTES.
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2. THIS TERMINATION IS PROSPECTIVE; IT DOES NOT AFFECT THE
15CLASSIFICATION OF PROPERTY ACQUIRED BEFORE THE TERMINATION
16BECOMES EFFECTIVE. PROPERTY ACQUIRED AFTER THE TERMINATION
17BECOMES EFFECTIVE IS CLASSIFIED AS PROVIDED UNDER THE MARITAL
18PROPERTY LAW.
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3. IN GENERAL, THIS TERMINATION IS NOT BINDING ON CREDITORS
20UNLESS THEY ARE PROVIDED A COPY OF THE TERMINATION BEFORE
21CREDIT IS EXTENDED.
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The undersigned terminates the statutory terminable marital property
23classification agreement entered into by me and my spouse on .... (date last spouse
24signed the agreement) under section 766.588 of the Wisconsin Statutes.
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Signature: ....
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Print Name Here: ....
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Residence Address: ....
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5Financial Disclosure
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The following general categories of assets and liabilities are not all inclusive
7and if other assets or liabilities exist they should be listed. Assets should be listed
8according to which spouse has title (including assets owned by a spouse or the
9spouses with one or more third parties) and at their approximate market value.
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10Husband Wife
Spouse (Name) Spouse (Name)
Both Names
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A.
Real estate (gross value)
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B.
Stocks, bonds and mutual funds
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C.
Accounts at and certificates or other
15instruments issued by financial institutions
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D.
Mortgages, land contracts, promissory notes
17and cash