PROPERTY RIGHTS OF MARRIED PERSONS; MARITAL PROPERTY
Liberal construction; intent.
Responsibility between spouses.
Variation by marital property agreement.
Classification of property of spouses.
Management and control of property of spouses.
Gifts of marital property to 3rd persons.
Obligations of spouses.
Obligations of spouses under open-end plans.
Credit transactions with married persons.
Relationship to consumer act.
Protection of bona fide purchasers dealing with spouses.
Protection of trustees dealing with spouses.
Marital property agreements.
Marital property agreements before determination date.
Statutory individual property classification agreement.
Statutory terminable marital property classification agreement.
Statutory terminable individual property classification agreement.
Unilateral statement; income from nonmarital property.
Optional forms of holding property; survivorship ownership.
Classification of homestead.
Classification of life insurance policies and proceeds.
Classification of deferred employment benefits.
Treatment of certain property at dissolution.
Rules of construction.
Uniformity of application and construction.
Equal rights; common law disabilities.
Ch. 766 Note
Chapter 766 was created by 1983 Wis. Act 186
and affected by 1985 Wis. Act 37
. Act 37 contains a prefatory note and explanatory notes following most of the sections affected by the act. These notes are not included. The notes in Act 37 were prepared by the legislative council and revised by its staff after the legislature adopted a conference substitute amendment to the original bill. Legislative council information memorandum 85-7, part I, contains original and supplemental explanatory notes to the marital property implementation law, 1985 Wis. Act 37
. Part II of the memorandum contains supplemental explanatory notes to the tax provisions of the marital property implementation law, 1985 Wis. Acts 29
Ch. 766 Note
See also 1987 Wis. Act 393
, which contains a prefatory note and explanatory notes following the sections affected.
Liberal construction; intent. 766.001(1)(1)
This chapter is remedial in nature and shall be liberally construed, consistent with s. 766.96
It is the intent of the legislature that marital property is a form of community property.
History: 1983 a. 186
; 1985 a. 37
Chapter 766, the Marital Property Act, does not supplant divorce property division provisions. In re Marriage of Kuhlman v. Kuhlman, 146 Wis. 2d 588
, 432 N.W.2d 295
(Ct. App. 1988).
Anthology of articles and comments on the marital property act. 68 MLR No. 3 (1985).
A brief overview: The new Wisconsin marital property act. Weisberger and Wilcox. WBB July, 1984.
The marital property law. WBB July, 1984.
The trailer bill: A survey of the 1985 amendments to the Wisconsin marital property act. Furrh, WBB December, 1985.
Estate planning under Wisconsin's marital property act. Erlanger, Hughes and Weisberger, WBB February, 1986.
In this chapter:
“Acquiring" property includes reducing indebtedness on encumbered property and obtaining a lien on or security interest in property.
“Appreciation" means a realized or unrealized increase in the value of property.
Except as provided in pars. (b)
, “credit" means the right granted by a creditor to defer payment of a debt, incur debt and defer its payment or purchase property or services and defer payment for the property or services.
Except as provided in pars. (b)
, “creditor" means a person that regularly extends credit.
“Decree" means a judgment or other order of a court.
“Deferred employment benefit" means a benefit from a deferred employment benefit plan.
“Deferred employment benefit plan" means a plan, fund, program or other arrangement under which compensation or benefits from employment are expressly, or as a result of surrounding circumstances, deferred to a later date or the happening of a future event. “Deferred employment benefit plan" includes but is not limited to a pension, profit sharing or stock-bonus plan, an employee stock-ownership or stock-purchase plan, a savings or thrift plan, an annuity plan, a qualified bond-purchase plan, a self-employed retirement plan, a simplified employee pension and a deferred compensation agreement or plan.
“Deferred employment benefit plan" does not include life, health, accident or other insurance or a plan, fund, program or other arrangement providing benefits similar to insurance benefits, except to the extent that benefits under the plan:
Have a present value that is immediately realizable in cash at the option of the employee;
Represent a right to compensation for loss of income during disability; or
Represent a right to payment of expenses incurred before time of valuation.
“Determination date" means the last to occur of the following: