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STATUTORY INDIVIDUAL
14
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
17are married) (who intend to marry) (strike one).
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The parties to this agreement agree to classify all their property, including
19property owned by them now and property acquired before January 1, 1987, as the
20individual property of the owning spouse, and agree that ownership of their property
21shall be determined as if it were December 31, 1985.
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This agreement terminates on January 1, 1987.
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Signature .... Date ....
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Print Name Here: ....
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Address: ....
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1Signature .... 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
5herself.]
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6Section 136
. 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
8OR BOTH OF YOU ESTABLISH A DOMICILE OUTSIDE THIS STATE, YOU ARE
9URGED TO SEEK LEGAL ADVICE CONCERNING THE CONTINUED
10EFFECTIVENESS OF THIS AGREEMENT.
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11Statutory terminable marital
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12Property 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
15married) (who intend to marry) (strike one). The parties hereby classify all of the
16property owned by them when this agreement becomes effective, and property
17acquired 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
19of termination to the other spouse. Notice of termination by a spouse is given upon
20personal delivery or when sent by certified mail to the other spouse's last-known
21address. The agreement terminates 30 days after such notice is given.
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The parties (have) (have not) (strike one) completed Schedule “A", “
Financial
23Disclosure", attached to this agreement. If Schedule “A" has not been completed, the
24duration of this agreement is 3 years after both parties have signed the agreement.
1If Schedule “A" has been completed, the duration of this agreement is not limited to
23 years after it is signed.
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IF THE DURATION OF THIS AGREEMENT IS NOT TO BE LIMITED TO 3
4YEARS, MAKE SURE SCHEDULE “A", “FINANCIAL DISCLOSURE", IS
5COMPLETED AND THAT YOU HAVE REVIEWED THE SCHEDULE BEFORE
6SIGNING THE AGREEMENT. IF YOU AND YOUR SPOUSE HAVE PREVIOUSLY
7ENTERED INTO A STATUTORY TERMINABLE MARITAL PROPERTY
8CLASSIFICATION AGREEMENT WITH EACH OTHER WHICH WAS
9EFFECTIVE DURING YOUR PRESENT MARRIAGE AND YOU AND YOUR
10SPOUSE DID NOT COMPLETE SCHEDULE “A", YOU MAY NOT EXECUTE THIS
11AGREEMENT 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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17Authentication
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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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22Acknowledgment
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STATE OF WISCONSIN
)
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.... County
)
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1Personally came before me this .... day of ...., .... (year) the above named .... to
2me known to be the person who executed the foregoing instrument and acknowledge
3the 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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17Authentication
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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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22Acknowledgment
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STATE OF WISCONSIN
)
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.... County
)
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1Personally came before me this .... day of ...., .... (year) the above named .... to
2me known to be the person who executed the foregoing instrument and acknowledge
3the 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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12Termination of statutory terminable
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13marital 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
16NOTIFIED OF THE TERMINATION, AS PROVIDED UNDER SECTION 766.588
17(4) OF THE WISCONSIN STATUTES.
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2. THIS TERMINATION IS PROSPECTIVE; IT DOES NOT AFFECT THE
19CLASSIFICATION OF PROPERTY ACQUIRED BEFORE THE TERMINATION
20BECOMES EFFECTIVE. PROPERTY ACQUIRED AFTER THE TERMINATION
21BECOMES EFFECTIVE IS CLASSIFIED AS PROVIDED UNDER THE MARITAL
22PROPERTY LAW.
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3. IN GENERAL, THIS TERMINATION IS NOT BINDING ON CREDITORS
24UNLESS THEY ARE PROVIDED A COPY OF THE TERMINATION BEFORE
25CREDIT IS EXTENDED.
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1The undersigned terminates the statutory terminable marital property
2classification agreement entered into by me and my spouse on .... (date last spouse
3signed 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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9Financial Disclosure
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The following general categories of assets and liabilities are not all inclusive
11and if other assets or liabilities exist they should be listed. Assets should be listed
12according to which spouse has title (including assets owned by a spouse or the
13spouses with one or more third parties) and at their approximate market value.
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14Husband 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
19instruments issued by financial institutions
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D.
Mortgages, land contracts, promissory notes
21and cash
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E.
Partnership interests
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EL.
Limited liability company interests
.
