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STATUTORY INDIVIDUAL
17
PROPERTY CLASSIFICATION AGREEMENT
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(Pursuant to Section 766.587, Wisconsin Statutes)
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This agreement is made and entered into by .... and ...., (
husband and wife who
20are married) (who intend to marry) (strike one).
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The parties to this agreement agree to classify all their property, including
22property owned by them now and property acquired before January 1, 1987, as the
23individual property of the owning spouse, and agree that ownership of their property
24shall be determined as if it were December 31, 1985.
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This agreement terminates on January 1, 1987.
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1Signature .... Date ....
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Print Name Here: ....
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Address: ....
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Signature .... Date ....
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Print Name Here: ....
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Address: ....
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[
Note: Each spouse should retain a copy of the agreement for himself or
8herself.]
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9Section 114
. 766.588 (9) (form) 13. of the statutes is amended to read:
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766.588
(9) (form) 13. IF AFTER ENTERING INTO THIS AGREEMENT ONE
11OR BOTH OF YOU ESTABLISH A DOMICILE OUTSIDE THIS STATE, YOU ARE
12URGED TO SEEK LEGAL ADVICE CONCERNING THE CONTINUED
13EFFECTIVENESS OF THIS AGREEMENT.
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14Statutory terminable marital
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15Property classification agreement
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(Pursuant to Section 766.588, Wisconsin Statutes)
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This agreement is entered into by .... and .... (
husband and wife who are
18married) (who intend to marry) (strike one). The parties hereby classify all of the
19property owned by them when this agreement becomes effective, and property
20acquired during the term of this agreement, as marital property.
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One spouse may terminate this agreement at any time by giving signed notice
22of termination to the other spouse. Notice of termination by a spouse is given upon
23personal delivery or when sent by certified mail to the other spouse's last-known
24address. The agreement terminates 30 days after such notice is given.
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1The parties (have) (have not) (strike one) completed Schedule “A", “Financial
2Disclosure", attached to this agreement. If Schedule “A" has not been completed, the
3duration of this agreement is 3 years after both parties have signed the agreement.
4If Schedule “A" has been completed, the duration of this agreement is not limited to
53 years after it is signed.
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IF THE DURATION OF THIS AGREEMENT IS NOT TO BE LIMITED TO 3
7YEARS, MAKE SURE SCHEDULE “A", “FINANCIAL DISCLOSURE", IS
8COMPLETED AND THAT YOU HAVE REVIEWED THE SCHEDULE BEFORE
9SIGNING THE AGREEMENT. IF YOU AND YOUR SPOUSE HAVE PREVIOUSLY
10ENTERED INTO A STATUTORY TERMINABLE MARITAL PROPERTY
11CLASSIFICATION AGREEMENT WITH EACH OTHER WHICH WAS
12EFFECTIVE DURING YOUR PRESENT MARRIAGE AND YOU AND YOUR
13SPOUSE DID NOT COMPLETE SCHEDULE “A", YOU MAY NOT EXECUTE THIS
14AGREEMENT IF YOU DO NOT COMPLETE SCHEDULE “A".
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Signature of One Spouse: ....
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Print Name Here: ....
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Residence Address: ....
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(Make Sure Your Signature is Authenticated or Acknowledged Below.)
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20Authentication
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Signature .... authenticated this .... day of ...., .... (year)
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TITLE: MEMBER STATE BAR OF WISCONSIN
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(If not, .... authorized by s. 706.06, Wis. Stats.)
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25Acknowledgment
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1STATE OF WISCONSIN
)
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.... County
)
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Personally came before me this .... day of ...., .... (year) the above named .... to
5me known to be the person who executed the foregoing instrument and acknowledge
6the same.
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Notary Public ...., .... County, Wisconsin.
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My Commission is permanent.
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(If not, state expiration date: ...., .... (year))
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(Signatures may be authenticated or
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acknowledged. Both are not necessary.)
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*Names of persons signing in any capacity should be
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typed or printed below their signatures.
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Signature of Other Spouse: ....
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Print Name Here: ....
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Residence Address: ....
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(Make Sure Your Signature is Authenticated or Acknowledged Below.)
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20Authentication
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Signature .... authenticated this .... day of ...., .... (year)
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TITLE: MEMBER STATE BAR OF WISCONSIN
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(If not, .... authorized by s. 706.06, Wis. Stats.)
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25Acknowledgment
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1STATE OF WISCONSIN
)
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.... County
)
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Personally came before me this .... day of ...., .... (year) the above named .... to
5me known to be the person who executed the foregoing instrument and acknowledge
6the same.
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Notary Public ...., .... County, Wisconsin.
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My Commission is permanent.
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(If not, state expiration date: ...., .... (year))
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(Signatures may be authenticated or
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acknowledged. Both are not necessary.)
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*Names of persons signing in any capacity should be
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typed or printed below their signatures.
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15Termination of statutory terminable
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16marital property classification agreement
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I UNDERSTAND THAT:
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1. THIS TERMINATION TAKES EFFECT 30 DAYS AFTER MY SPOUSE IS
19NOTIFIED OF THE TERMINATION, AS PROVIDED UNDER SECTION 766.588
20(4) OF THE WISCONSIN STATUTES.
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2. THIS TERMINATION IS PROSPECTIVE; IT DOES NOT AFFECT THE
22CLASSIFICATION OF PROPERTY ACQUIRED BEFORE THE TERMINATION
23BECOMES EFFECTIVE. PROPERTY ACQUIRED AFTER THE TERMINATION
24BECOMES EFFECTIVE IS CLASSIFIED AS PROVIDED UNDER THE MARITAL
25PROPERTY LAW.
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13. IN GENERAL, THIS TERMINATION IS NOT BINDING ON CREDITORS
2UNLESS THEY ARE PROVIDED A COPY OF THE TERMINATION BEFORE
3CREDIT IS EXTENDED.
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The undersigned terminates the statutory terminable marital property
5classification agreement entered into by me and my spouse on .... (date last spouse
6signed the agreement) under section 766.588 of the Wisconsin Statutes.
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Signature: ....
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Print Name Here: ....
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Residence Address: ....
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11Schedule “A"
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12Financial Disclosure
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The following general categories of assets and liabilities are not all inclusive
14and if other assets or liabilities exist they should be listed. Assets should be listed
15according to which spouse has title (including assets owned by a spouse or the
16spouses with one or more third parties) and at their approximate market value.
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17Husband Wife
Spouse (Name) Spouse (Name) Both Names
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A.
Real estate (gross value)
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B.
Stocks, bonds and mutual funds
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C.
Accounts at and certificates or other
22instruments issued by financial institutions
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D.
Mortgages, land contracts, promissory notes
24and cash
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E.
Partnership interests
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1EL.
Limited liability company interests
.
