Community Property

Ownership of property in “community propertyOwnership of property in “community property” states under which married persons property and income may be considered owned by both spouses in certain circumstances, such as property acquired during the marriage. This is relevant to Wisconsin Estate Planning, as Wisconsin is a Marital Property state which is a form of Community Property. Also see Marital Property and Marital Property Agreement.” states under which married persons property and income may be considered owned by both spouses in certain circumstances, such as property acquired during the marriage. This is relevant to Wisconsin Estate PlanningPlanning in advance of disability, incapacity, or death to make sure that key life issues have been addressed while the person is still of sound mind and able to understand and sign key documents such as Power of Attorneys, Power of Attorneys for Health Care, Wills, and Trusts to form a strategy and provide for the administration and disposition of his or her assets upon death or upon incapacity., as Wisconsin is a Marital PropertyA law for married persons with respect to ownership and rights in and to assets, property, and income during life and upon death of a married couple. Marital Property law is unique to the State of Wisconsin, but is a form of and based upon many principals contained in Community Property law. state which is a form of Community PropertyOwnership of property in “community property” states under which married persons property and income may be considered owned by both spouses in certain circumstances, such as property acquired during the marriage. This is relevant to Wisconsin Estate Planning, as Wisconsin is a Marital Property state which is a form of Community Property. Also see Marital Property and Marital Property Agreement.. Also see Marital Property and Marital Property AgreementA document created by married persons in advance of marriage (prenuptial agreement) or following marriage (post-nuptial agreement) to agree with or alter the pre-set Wisconsin Marital Property laws. A Marital Property agreement can also be used to direct that property, upon death of one or both spouses, shall be distributed to a trust or person to avoid probate. In Wisconsin, a Marital Property Agreement can be used to help fund a Revocable Trust at the death of a spouse of both spouses to avoid probate and can be referred to as a Non-Probate Marital Property Agreement..