SB321,97,1010marital property classification agreement SB321,97,1111I UNDERSTAND THAT: SB321,97,14121. THIS TERMINATION TAKES EFFECT 30 DAYS AFTER MY SPOUSE IS 13NOTIFIED OF THE TERMINATION, AS PROVIDED UNDER SECTION 766.588 14(4) OF THE WISCONSIN STATUTES. SB321,97,19152. THIS TERMINATION IS PROSPECTIVE; IT DOES NOT AFFECT THE 16CLASSIFICATION OF PROPERTY ACQUIRED BEFORE THE TERMINATION 17BECOMES EFFECTIVE. PROPERTY ACQUIRED AFTER THE TERMINATION 18BECOMES EFFECTIVE IS CLASSIFIED AS PROVIDED UNDER THE 19MARITAL PROPERTY LAW. SB321,97,22203. IN GENERAL, THIS TERMINATION IS NOT BINDING ON 21CREDITORS UNLESS THEY ARE PROVIDED A COPY OF THE TERMINATION 22BEFORE CREDIT IS EXTENDED. SB321,98,223The undersigned terminates the statutory terminable marital property
1classification agreement entered into by me and my spouse on .... (date last spouse 2signed the agreement) under section 766.588 of the Wisconsin Statutes. SB321,98,33Signature: .... SB321,98,55Print Name Here: .... SB321,98,66Residence Address: .... SB321,98,88Financial Disclosure SB321,98,129The following general categories of assets and liabilities are not all inclusive 10and if other assets or liabilities exist they should be listed. Assets should be listed 11according to which spouse has title (including assets owned by a spouse or the 12spouses with one or more third parties) and at their approximate market value. SB321,98,1313Husband Wife Spouse (Name) Spouse (Name) Both Names SB321,98,1515A. Real estate (gross value) SB321,98,1616B. Stocks, bonds and mutual funds SB321,98,1817C. Accounts at and certificates or other 18instruments issued by financial institutions SB321,98,2019D. Mortgages, land contracts, promissory notes 20and cash SB321,98,2121E. Partnership interests SB321,98,2222EL. Limited liability company interests. SB321,98,2323F. Trust interests SB321,99,1
1G. Livestock, farm products, crops SB321,99,22H. Automobiles and other vehicles SB321,99,33I. Jewelry and personal effects SB321,99,44J. Household furnishings SB321,99,55K. Life insurance and annuities: SB321,99,772. Cash surrender value SB321,99,88L. Retirement benefits (include value): SB321,99,991. Pension plans SB321,99,10102. Profit sharing plans SB321,99,11113. HR-10 KEOGH plans SB321,99,13135. Deferred compensation plans SB321,99,1414M. Other assets not listed elsewhere SB321,99,1515II. Obligations (total outstanding balance): SB321,99,1616A. Mortgages and liens SB321,99,1717B. Credit cards SB321,99,1818C. Other obligations to financial institutions SB321,99,2019D. Alimony, maintenance and child support (per 20month) SB321,99,2221E. Other obligations (such as other obligations to 22individuals, guarantees, contingent liabilities) SB321,99,2323III. Annual compensation for services: SB321,100,2
1(for example, wages and income from self-2employment; also include social security, SB321,100,33disability and similar income here) SB321,100,44(IF YOU NEED ADDITIONAL SPACE, SB321,100,55ADD ADDITIONAL SHEETS) SB321,2306Section 230. 766.589 (10) (form) 14. of the statutes is amended to read: SB321,100,107766.589 (10) (form) 14. IF AFTER ENTERING INTO THIS AGREEMENT 8ONE OR BOTH OF YOU ESTABLISH A DOMICILE OUTSIDE THIS STATE, 9YOU ARE URGED TO SEEK LEGAL ADVICE CONCERNING THE 10CONTINUED EFFECTIVENESS OF THIS AGREEMENT. SB321,100,1111Statutory terminable individual SB321,100,1212Property classification agreement SB321,100,1313(Pursuant to Section 766.589, Wisconsin Statutes) SB321,100,2214This agreement is entered into by .... and .... (husband and wife who are 15married) (who intend to marry) (strike one). The parties hereby classify the 16marital property owned by them when this agreement becomes effective, and 17property acquired during the term of this agreement which that would otherwise 18have been marital property, as the individual property of the owning spouse. The 19parties agree that ownership of such property shall be determined by the name in 20which the property is held and, if property is not held by either or both spouses, 21ownership shall be determined as if the parties were unmarried persons when the 22property was acquired. SB321,101,323Upon the death of either spouse the surviving spouse may, except as otherwise
1provided in a subsequent marital property agreement, and regardless of whether 2this agreement has terminated, elect against the property of the decedent spouse as 3provided in section 766.589 (7) of the Wisconsin Statutes. SB321,101,74One spouse may terminate this agreement at any time by giving signed notice 5of termination to the other spouse. Notice of termination by a spouse is given upon 6personal delivery or when sent by certified mail to the other spouse’s last-known 7address. The agreement terminates 30 days after such notice is given. SB321,101,128The parties (have) (have not) (strike one) completed Schedule “A”, “Financial 9Disclosure”, attached to this agreement. If Schedule “A” has not been completed, 10the duration of this agreement is 3 years after both parties have signed the 11agreement. If Schedule “A” has been completed, the duration of this agreement is 12not limited to 3 years after it is signed. SB321,101,2113IF THE DURATION OF THIS AGREEMENT IS NOT TO BE LIMITED TO 3 14YEARS, MAKE SURE THAT SCHEDULE “A”, “FINANCIAL DISCLOSURE”, IS 15COMPLETED AND THAT YOU HAVE REVIEWED THE SCHEDULE BEFORE 16SIGNING THE AGREEMENT. IF YOU AND YOUR SPOUSE HAVE 17PREVIOUSLY ENTERED INTO A STATUTORY TERMINABLE INDIVIDUAL 18PROPERTY CLASSIFICATION AGREEMENT WITH EACH OTHER WHICH 19WAS EFFECTIVE DURING YOUR PRESENT MARRIAGE AND YOU AND 20YOUR SPOUSE DID NOT COMPLETE SCHEDULE “A”, YOU MAY NOT 21EXECUTE THIS AGREEMENT IF YOU DO NOT COMPLETE SCHEDULE “A”. SB321,101,2222Signature of One Spouse: .... SB321,102,1
1Print Name Here: .... SB321,102,22Residence Address: .... SB321,102,33(Make Sure Your Signature is Authenticated or Acknowledged Below.) SB321,102,44Authentication SB321,102,55Signature .... authenticated this .... day of ...., .... (year) SB321,102,77TITLE: MEMBER STATE BAR OF WISCONSIN SB321,102,88(If not, .... authorized by s. 706.06, Wis. Stats.) SB321,102,99Acknowledgment SB321,102,1010STATE OF WISCONSIN ) SB321,102,1212.... County ) SB321,102,1513Personally came before me this .... day of ...., .... (year) the above named .... to 14me known to be the person who executed the foregoing instrument and 15acknowledge the same. SB321,102,1717Notary Public ...., .... County, Wisconsin. SB321,102,1818My Commission is permanent. SB321,102,1919(If not, state expiration date: ...., .... (year)) SB321,102,2020(Signatures may be authenticated or SB321,102,2121acknowledged. Both are not necessary.) SB321,102,2222*Names of persons signing in any capacity should be SB321,102,2323typed or printed below their signatures. SB321,103,1
1Signature of Other Spouse: .... SB321,103,33Print Name Here: .... SB321,103,44Residence Address: .... SB321,103,55(Make Sure Your Signature is Authenticated or Acknowledged Below.) SB321,103,66Authentication SB321,103,77Signature .... authenticated this .... day of ...., .... (year) SB321,103,99TITLE: MEMBER STATE BAR OF WISCONSIN
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