acknowledged. Both are not necessary.)
*Names of persons signing in any capacity should be
typed or printed below their signatures.
Signature of Other Spouse: ....
Date: ....
Print Name Here: ....
Residence Address: ....
(Make Sure Your Signature is Authenticated or Acknowledged Below.)
Authentication
Signature .... authenticated this .... day of ...., 19.. .... (year)
*....
TITLE: MEMBER STATE BAR OF WISCONSIN
(If not, .... authorized by s. 706.06, Wis. Stats.)
Acknowledgment
STATE OF WISCONSIN )
) ss.
.... County )
Personally came before me this .... day of ...., 19.. .... (year) the above named .... to me known to be the person who executed the foregoing instrument and acknowledge the same.
*....
Notary Public ...., .... County, Wisconsin.
My Commission is permanent.
(If not, state expiration date: ...., 19..
.... (year))
(Signatures may be authenticated or
acknowledged. Both are not necessary.)
*Names of persons signing in any capacity should be
typed or printed below their signatures.
Termination of statutory terminable
marital property classification agreement
I UNDERSTAND THAT:
1. THIS TERMINATION TAKES EFFECT 30 DAYS AFTER MY SPOUSE IS NOTIFIED OF THE TERMINATION, AS PROVIDED UNDER SECTION 766.588 (4) OF THE WISCONSIN STATUTES.
2. THIS TERMINATION IS PROSPECTIVE; IT DOES NOT AFFECT THE CLASSIFICATION OF PROPERTY ACQUIRED BEFORE THE TERMINATION BECOMES EFFECTIVE. PROPERTY ACQUIRED AFTER THE TERMINATION BECOMES EFFECTIVE IS CLASSIFIED AS PROVIDED UNDER THE MARITAL PROPERTY LAW.
3. IN GENERAL, THIS TERMINATION IS NOT BINDING ON CREDITORS UNLESS THEY ARE PROVIDED A COPY OF THE TERMINATION BEFORE CREDIT IS EXTENDED.
The undersigned terminates the statutory terminable marital property classification agreement entered into by me and my spouse on .... (date last spouse signed the agreement) under section 766.588 of the Wisconsin Statutes.
Signature: ....
Date: ....
Print Name Here: ....
Residence Address: ....
Schedule “A"
Financial Disclosure
The following general categories of assets and liabilities are not all inclusive and if other assets or liabilities exist they should be listed. Assets should be listed according to which spouse has title (including assets owned by a spouse or the spouses with one or more third parties) and at their approximate market value.
Husband Wife Both Names
I. Assets
A. Real estate (gross value)
B. Stocks, bonds and mutual funds
C. Accounts at and certificates or other instruments issued by financial institutions
D. Mortgages, land contracts, promissory notes and cash
E. Partnership interests
EL. Limited liability company interests.
F. Trust interests
G. Livestock, farm products, crops
H. Automobiles and other vehicles
I. Jewelry and personal effects
J. Household furnishings
K. Life insurance and annuities:
1. Face value
2. Cash surrender value
L. Retirement benefits (include value):
1. Pension plans
2. Profit sharing plans
3. HR-10 KEOGH plans
4. IRAs
5. Deferred compensation plans
M. Other assets not listed elsewhere
II. Obligations (total outstanding balance):
A. Mortgages and liens
B. Credit cards
C. Other obligations to financial institutions
D. Alimony, maintenance and child support (per month)
E. Other obligations (such as other obligations to individuals, guarantees, contingent liabilities)
III. Annual compensation for services:
(for example, wages and income from
self-employment; also include social security,
disability and similar income here)
(IF YOU NEED ADDITIONAL SPACE,
ADD ADDITIONAL SHEETS)
250,28
Section 28
. 766.589 (10) (form) of the statutes is amended to read:
766.589 (10) (form)
Notice to persons who sign this agreement
1. A PROPERTY LAW KNOWN AS THE MARITAL PROPERTY SYSTEM GOVERNS THE PROPERTY RIGHTS OF MARRIED PERSONS IN WISCONSIN. AFTER THE MARITAL PROPERTY SYSTEM APPLIES TO A MARRIED COUPLE, EACH SPOUSE HAS AN UNDIVIDED ONE-HALF OWNERSHIP INTEREST IN PROPERTY, SUCH AS WAGES, DEFERRED EMPLOYMENT BENEFITS, LIFE INSURANCE, INCOME FROM PROPERTY AND CERTAIN APPRECIATION OF PROPERTY, THEREAFTER ACQUIRED DURING MARRIAGE DUE TO THE EFFORTS OF EITHER OR BOTH SPOUSES. THIS AGREEMENT ALTERS THE LAW GOVERNING YOUR PROPERTY RIGHTS. THE PURPOSE OF THE FOLLOWING INFORMATION IS TO APPRISE YOU, IN VERY GENERAL TERMS, OF SOME OF THE MORE IMPORTANT ASPECTS AND POSSIBLE EFFECTS OF THIS AGREEMENT. THE INFORMATION IS NOT INTENDED TO BE A PRECISE OR COMPLETE RECITATION OF THE LAW APPLICABLE TO THIS AGREEMENT AND IS NOT A SUBSTITUTE FOR LEGAL ADVICE.
2. BY ENTERING INTO THIS AGREEMENT, YOU HAVE AGREED TO RELINQUISH YOUR RIGHTS TO AN AUTOMATIC OWNERSHIP INTEREST IN PROPERTY ACQUIRED AS A RESULT OF SPOUSAL EFFORT DURING MARRIAGE AND THE TERM OF THE AGREEMENT; HOWEVER, YOU ARE ACQUIRING AUTOMATIC OWNERSHIP RIGHTS TO PROPERTY TITLED IN YOUR NAME.
3. THIS AGREEMENT MAY AFFECT:
A. YOUR ACCESS TO CREDIT AND THE PROPERTY AVAILABLE TO SATISFY OBLIGATIONS INCURRED BY YOU OR YOUR SPOUSE.
B. THE ACCUMULATION OF AND THE MANAGEMENT AND CONTROL OF PROPERTY BY YOU DURING YOUR MARRIAGE.
C. THE AMOUNT OF PROPERTY YOU HAVE TO DISPOSE OF AT YOUR DEATH.
D. YOUR TAXES.
E. ANY PREVIOUS MARRIAGE AGREEMENT ENTERED INTO BY YOU AND YOUR SPOUSE.
4. THIS AGREEMENT DOES NOT:
A. AFFECT RIGHTS AT DIVORCE.
B. ALTER THE LEGAL DUTY OF SUPPORT THAT SPOUSES HAVE TO EACH OTHER OR THAT A SPOUSE HAS TO HIS OR HER CHILDREN.
