Wisconsin Legislature: SB566,54,20

SB566,54,85 766.589 (10) (form) 14. IF AFTER ENTERING INTO THIS AGREEMENT
6ONE OR BOTH OF YOU ESTABLISH A DOMICILE OUTSIDE THIS STATE, YOU
7ARE URGED TO SEEK LEGAL ADVICE CONCERNING THE CONTINUED
8EFFECTIVENESS OF THIS AGREEMENT.

SB566,54,9 9Statutory terminable individual

SB566,54,10 10Property classification agreement

SB566,54,1111 (Pursuant to Section 766.589, Wisconsin Statutes)

SB566,54,2012 This agreement is entered into by .... and .... (husband and wife who are
13married) (who intend to marry) (strike one). The parties hereby classify the marital
14property owned by them when this agreement becomes effective, and property
15acquired during the term of this agreement which that would otherwise have been
16marital property, as the individual property of the owning spouse. The parties agree
17that ownership of such property shall be determined by the name in which the
18property is held and, if property is not held by either or both spouses, ownership shall
19be determined as if the parties were unmarried persons when the property was
20acquired.

SB566,54,2421 Upon the death of either spouse the surviving spouse may, except as otherwise
22provided in a subsequent marital property agreement, and regardless of whether
23this agreement has terminated, elect against the property of the decedent spouse as
24provided in section 766.589 (7) of the Wisconsin Statutes.

SB566,55,4

1One spouse may terminate this agreement at any time by giving signed notice
2of termination to the other spouse. Notice of termination by a spouse is given upon
3personal delivery or when sent by certified mail to the other spouse's last-known
4address. The agreement terminates 30 days after such notice is given.

SB566,55,95 The parties (have) (have not) (strike one) completed Schedule “A", “ Financial
6Disclosure", attached to this agreement. If Schedule “A" has not been completed, the
7duration of this agreement is 3 years after both parties have signed the agreement.
8If Schedule “A" has been completed, the duration of this agreement is not limited to
93 years after it is signed.

SB566,55,1810 IF THE DURATION OF THIS AGREEMENT IS NOT TO BE LIMITED TO 3
11YEARS, MAKE SURE THAT SCHEDULE “A", “FINANCIAL DISCLOSURE", IS
12COMPLETED AND THAT YOU HAVE REVIEWED THE SCHEDULE BEFORE
13SIGNING THE AGREEMENT. IF YOU AND YOUR SPOUSE HAVE PREVIOUSLY
14ENTERED INTO A STATUTORY TERMINABLE INDIVIDUAL PROPERTY
15CLASSIFICATION AGREEMENT WITH EACH OTHER WHICH WAS
16EFFECTIVE DURING YOUR PRESENT MARRIAGE AND YOU AND YOUR
17SPOUSE DID NOT COMPLETE SCHEDULE “A", YOU MAY NOT EXECUTE THIS
18AGREEMENT IF YOU DO NOT COMPLETE SCHEDULE “A".

SB566,55,1919 Signature of One Spouse: ....

SB566,55,2020 Date: ....

SB566,55,2121 Print Name Here: ....

SB566,55,2222 Residence Address: ....

SB566,55,2323 (Make Sure Your Signature is Authenticated or Acknowledged Below.)

SB566,55,24 24Authentication

SB566,55,2525 Signature .... authenticated this .... day of ...., .... (year)

SB566,56,1

1*....

SB566,56,22 TITLE: MEMBER STATE BAR OF WISCONSIN

SB566,56,33 (If not, .... authorized by s. 706.06, Wis. Stats.)

SB566,56,4 4Acknowledgment

SB566,56,55 STATE OF WISCONSIN )

SB566,56,66 ) ss.

SB566,56,77 .... County )

SB566,56,108 Personally came before me this .... day of ...., .... (year) the above named .... to
9me known to be the person who executed the foregoing instrument and acknowledge
10the same.

SB566,56,1111 *....

SB566,56,1212 Notary Public ...., .... County, Wisconsin.

SB566,56,1313 My Commission is permanent.

SB566,56,1414 (If not, state expiration date: ...., .... (year))

SB566,56,1515 (Signatures may be authenticated or

SB566,56,1616 acknowledged. Both are not necessary.)

SB566,56,1717 *Names of persons signing in any capacity should be

SB566,56,1818 typed or printed below their signatures.

SB566,56,1919 Signature of Other Spouse: ....

SB566,56,2020 Date: ....

SB566,56,2121 Print Name Here: ....

SB566,56,2222 Residence Address: ....

SB566,56,2323 (Make Sure Your Signature is Authenticated or Acknowledged Below.)

SB566,56,24 24Authentication

SB566,56,2525 Signature .... authenticated this .... day of ...., .... (year)

SB566,57,1

1*....

SB566,57,22 TITLE: MEMBER STATE BAR OF WISCONSIN

SB566,57,33 (If not, .... authorized by s. 706.06, Wis. Stats.)

SB566,57,4 4Acknowledgment

SB566,57,55 STATE OF WISCONSIN )

SB566,57,66 ) ss.

SB566,57,77 .... County )

SB566,57,108 Personally came before me this .... day of ...., .... (year) the above named .... to
9me known to be the person who executed the foregoing instrument and acknowledge
10the same.

SB566,57,1111 *....

SB566,57,1212 Notary Public ...., .... County, Wisconsin.

SB566,57,1313 My Commission is permanent.

SB566,57,1414 (If not, state expiration date: ...., .... (year))

SB566,57,1515 (Signatures may be authenticated or

SB566,57,1616 acknowledged. Both are not necessary.)

SB566,57,1717 *Names of persons signing in any capacity should

SB566,57,1818 be typed or printed below their signatures.

SB566,57,19 19Termination of

SB566,57,20 20Statutory terminable individual

SB566,57,21 21Property classification agreement

SB566,57,2222 I UNDERSTAND THAT:

SB566,57,2523 1. THIS TERMINATION TAKES EFFECT 30 DAYS AFTER MY SPOUSE IS
24NOTIFIED OF THE TERMINATION, AS PROVIDED UNDER SECTION 766.589
25(4) OF THE WISCONSIN STATUTES.

SB566,58,5

12. THIS TERMINATION IS PROSPECTIVE; IT DOES NOT AFFECT THE
2CLASSIFICATION OF PROPERTY ACQUIRED BEFORE THE TERMINATION
3BECOMES EFFECTIVE. PROPERTY ACQUIRED AFTER THE TERMINATION
4BECOMES EFFECTIVE IS CLASSIFIED AS PROVIDED UNDER THE MARITAL
5PROPERTY LAW.

SB566,58,86 3. IN GENERAL, THIS TERMINATION IS NOT BINDING ON CREDITORS
7UNLESS THEY ARE PROVIDED A COPY OF THE TERMINATION BEFORE
8CREDIT IS EXTENDED.

SB566,58,119 The undersigned terminates the statutory terminable individual property
10classification agreement entered into by me and my spouse on .... (date last spouse
11signed the agreement) under section 766.589 of the Wisconsin Statutes.

SB566,58,1212 Signature: ....