SB45,1515,1212marital property classification agreement SB45,1515,1313I UNDERSTAND THAT: SB45,1515,16141. THIS TERMINATION TAKES EFFECT 30 DAYS AFTER MY SPOUSE IS 15NOTIFIED OF THE TERMINATION, AS PROVIDED UNDER SECTION 766.588 16(4) OF THE WISCONSIN STATUTES. SB45,1515,21172. THIS TERMINATION IS PROSPECTIVE; IT DOES NOT AFFECT THE 18CLASSIFICATION OF PROPERTY ACQUIRED BEFORE THE TERMINATION 19BECOMES EFFECTIVE. PROPERTY ACQUIRED AFTER THE TERMINATION 20BECOMES EFFECTIVE IS CLASSIFIED AS PROVIDED UNDER THE 21MARITAL PROPERTY LAW. SB45,1516,2223. IN GENERAL, THIS TERMINATION IS NOT BINDING ON
1CREDITORS UNLESS THEY ARE PROVIDED A COPY OF THE TERMINATION 2BEFORE CREDIT IS EXTENDED. SB45,1516,53The undersigned terminates the statutory terminable marital property 4classification agreement entered into by me and my spouse on .... (date last spouse 5signed the agreement) under section 766.588 of the Wisconsin Statutes. SB45,1516,66Signature: .... SB45,1516,88Print Name Here: .... SB45,1516,99Residence Address: .... SB45,1516,1010Schedule “A” SB45,1516,1111Financial Disclosure SB45,1516,1512The following general categories of assets and liabilities are not all inclusive 13and if other assets or liabilities exist they should be listed. Assets should be listed 14according to which spouse has title (including assets owned by a spouse or the 15spouses with one or more third parties) and at their approximate market value. SB45,1516,1616Husband Wife Spouse (Name) Spouse (Name) Both Names SB45,1516,1818A. Real estate (gross value) SB45,1516,1919B. Stocks, bonds and mutual funds SB45,1516,2120C. Accounts at and certificates or other 21instruments issued by financial institutions SB45,1516,2322D. Mortgages, land contracts, promissory notes 23and cash SB45,1517,1
1E. Partnership interests SB45,1517,22EL. Limited liability company interests. SB45,1517,33F. Trust interests SB45,1517,44G. Livestock, farm products, crops SB45,1517,55H. Automobiles and other vehicles SB45,1517,66I. Jewelry and personal effects SB45,1517,77J. Household furnishings SB45,1517,88K. Life insurance and annuities: SB45,1517,991. Face value SB45,1517,10102. Cash surrender value SB45,1517,1111L. Retirement benefits (include value): SB45,1517,12121. Pension plans SB45,1517,13132. Profit sharing plans SB45,1517,14143. HR-10 KEOGH plans SB45,1517,16165. Deferred compensation plans SB45,1517,1717M. Other assets not listed elsewhere SB45,1517,1818II. Obligations (total outstanding balance): SB45,1517,1919A. Mortgages and liens SB45,1517,2020B. Credit cards SB45,1517,2121C. Other obligations to financial institutions SB45,1517,2322D. Alimony, maintenance and child support (per 23month) SB45,1518,2
1E. Other obligations (such as other obligations to 2individuals, guarantees, contingent liabilities) SB45,1518,33III. Annual compensation for services: SB45,1518,54(for example, wages and income from self-5employment; also include social security, SB45,1518,66disability and similar income here) SB45,1518,77(IF YOU NEED ADDITIONAL SPACE, SB45,1518,88ADD ADDITIONAL SHEETS) SB45,30349Section 3034. 766.589 (10) (form) 14. of the statutes is amended to read: SB45,1518,1310766.589 (10) (form) 14. IF AFTER ENTERING INTO THIS AGREEMENT 11ONE OR BOTH OF YOU ESTABLISH A DOMICILE OUTSIDE THIS STATE, 12YOU ARE URGED TO SEEK LEGAL ADVICE CONCERNING THE 13CONTINUED EFFECTIVENESS OF THIS AGREEMENT. SB45,1518,1414Statutory terminable individual SB45,1518,1515Property classification agreement SB45,1518,1616(Pursuant to Section 766.589, Wisconsin Statutes) SB45,1519,217This agreement is entered into by .... and .... (husband and wife who are 18married) (who intend to marry) (strike one). The parties hereby classify the 19marital property owned by them when this agreement becomes effective, and 20property acquired during the term of this agreement which that would otherwise 21have been marital property, as the individual property of the owning spouse. The 22parties agree that ownership of such property shall be determined by the name in 23which the property is held and, if property is not held by either or both spouses,
1ownership shall be determined as if the parties were unmarried persons when the 2property was acquired. SB45,1519,63Upon the death of either spouse the surviving spouse may, except as otherwise 4provided in a subsequent marital property agreement, and regardless of whether 5this agreement has terminated, elect against the property of the decedent spouse as 6provided in section 766.589 (7) of the Wisconsin Statutes. SB45,1519,107One spouse may terminate this agreement at any time by giving signed notice 8of termination to the other spouse. Notice of termination by a spouse is given upon 9personal delivery or when sent by certified mail to the other spouse’s last-known 10address. The agreement terminates 30 days after such notice is given. SB45,1519,1511The parties (have) (have not) (strike one) completed Schedule “A”, “Financial 12Disclosure”, attached to this agreement. If Schedule “A” has not been completed, 13the duration of this agreement is 3 years after both parties have signed the 14agreement. If Schedule “A” has been completed, the duration of this agreement is 15not limited to 3 years after it is signed. SB45,1520,216IF THE DURATION OF THIS AGREEMENT IS NOT TO BE LIMITED TO 3 17YEARS, MAKE SURE THAT SCHEDULE “A”, “FINANCIAL DISCLOSURE”, IS 18COMPLETED AND THAT YOU HAVE REVIEWED THE SCHEDULE BEFORE 19SIGNING THE AGREEMENT. IF YOU AND YOUR SPOUSE HAVE 20PREVIOUSLY ENTERED INTO A STATUTORY TERMINABLE INDIVIDUAL 21PROPERTY CLASSIFICATION AGREEMENT WITH EACH OTHER WHICH 22WAS EFFECTIVE DURING YOUR PRESENT MARRIAGE AND YOU AND
1YOUR SPOUSE DID NOT COMPLETE SCHEDULE “A”, YOU MAY NOT 2EXECUTE THIS AGREEMENT IF YOU DO NOT COMPLETE SCHEDULE “A”. SB45,1520,33Signature of One Spouse: .... SB45,1520,55Print Name Here: .... SB45,1520,66Residence Address: .... SB45,1520,77(Make Sure Your Signature is Authenticated or Acknowledged Below.) SB45,1520,88Authentication SB45,1520,99Signature .... authenticated this .... day of ...., .... (year) SB45,1520,1111TITLE: MEMBER STATE BAR OF WISCONSIN SB45,1520,1212(If not, .... authorized by s. 706.06, Wis. Stats.) SB45,1520,1313Acknowledgment SB45,1520,1414STATE OF WISCONSIN ) SB45,1520,1616.... County ) SB45,1520,1917Personally came before me this .... day of ...., .... (year) the above named .... to 18me known to be the person who executed the foregoing instrument and 19acknowledge the same. SB45,1520,2121Notary Public ...., .... County, Wisconsin. SB45,1520,2222My Commission is permanent. SB45,1520,2323(If not, state expiration date: ...., .... (year)) SB45,1521,1
1(Signatures may be authenticated or SB45,1521,22acknowledged. Both are not necessary.) SB45,1521,33*Names of persons signing in any capacity should be SB45,1521,44typed or printed below their signatures. SB45,1521,55Signature of Other Spouse: .... SB45,1521,77Print Name Here: .... SB45,1521,88Residence Address: .... SB45,1521,99(Make Sure Your Signature is Authenticated or Acknowledged Below.) SB45,1521,1010Authentication SB45,1521,1111Signature .... authenticated this .... day of ...., .... (year) SB45,1521,1313TITLE: MEMBER STATE BAR OF WISCONSIN
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