Skip navigation Wisconsin State Legislature
5 acknowledged. Both are not necessary.)
6 *Names of persons signing in any capacity should be
7 typed or printed below their signatures.
8Termination of statutory terminable
9marital property classification agreement
10 I UNDERSTAND THAT:
11 1. THIS TERMINATION TAKES EFFECT 30 DAYS AFTER MY SPOUSE IS
12NOTIFIED OF THE TERMINATION, AS PROVIDED UNDER SECTION 766.588
13(4) OF THE WISCONSIN STATUTES.
14 2. THIS TERMINATION IS PROSPECTIVE; IT DOES NOT AFFECT THE
15CLASSIFICATION OF PROPERTY ACQUIRED BEFORE THE TERMINATION
16BECOMES EFFECTIVE. PROPERTY ACQUIRED AFTER THE TERMINATION
17BECOMES EFFECTIVE IS CLASSIFIED AS PROVIDED UNDER THE MARITAL
18PROPERTY LAW.
19 3. IN GENERAL, THIS TERMINATION IS NOT BINDING ON CREDITORS
20UNLESS THEY ARE PROVIDED A COPY OF THE TERMINATION BEFORE
21CREDIT IS EXTENDED.
22 The undersigned terminates the statutory terminable marital property
23classification agreement entered into by me and my spouse on .... (date last spouse
24signed the agreement) under section 766.588 of the Wisconsin Statutes.
25 Signature: ....
1Date: ....
2 Print Name Here: ....
3 Residence Address: ....
4Schedule “a"
5Financial Disclosure
6 The following general categories of assets and liabilities are not all inclusive
7and if other assets or liabilities exist they should be listed. Assets should be listed
8according to which spouse has title (including assets owned by a spouse or the
9spouses with one or more third parties) and at their approximate market value.
10Husband   Wife   Spouse (Name)   Spouse (Name)   Both Names
11 I.   Assets
12 A.   Real estate (gross value)
13 B.   Stocks, bonds and mutual funds
14 C.   Accounts at and certificates or other
15instruments issued by financial institutions
16 D.   Mortgages, land contracts, promissory notes
17and cash
18 E.   Partnership interests
19 EL.   Limited liability company interests.
20 F.   Trust interests
21 G.   Livestock, farm products, crops
22 H.   Automobiles and other vehicles
23 I.   Jewelry and personal effects
24 J.   Household furnishings
25 K.   Life insurance and annuities:
11.   Face value
2 2.   Cash surrender value
3 L.   Retirement benefits (include value):
4 1.   Pension plans
5 2.   Profit sharing plans
6 3.   HR-10 KEOGH plans
7 4.   IRAs
8 5.   Deferred compensation plans
9 M.   Other assets not listed elsewhere
10 II.   Obligations (total outstanding balance):
11 A.   Mortgages and liens
12 B.   Credit cards
13 C.   Other obligations to financial institutions
14 D.   Alimony, maintenance and child support (per
15month)
16 E.   Other obligations (such as other obligations
17to individuals, guarantees, contingent
18liabilities)
19 III.   Annual compensation for services:
20 (for example, wages and income from
21self-employment; also include social security,
22 disability and similar income here)
23 (IF YOU NEED ADDITIONAL SPACE,
24 ADD ADDITIONAL SHEETS)
25Section 229. 766.589 (10) (form) 14. of the statutes is amended to read:
1766.589 (10) (form) 14. IF AFTER ENTERING INTO THIS AGREEMENT
2ONE OR BOTH OF YOU ESTABLISH A DOMICILE OUTSIDE THIS STATE, YOU
3ARE URGED TO SEEK LEGAL ADVICE CONCERNING THE CONTINUED
4EFFECTIVENESS OF THIS AGREEMENT.
5Statutory terminable individual
6Property classification agreement
7 (Pursuant to Section 766.589, Wisconsin Statutes)
8 This agreement is entered into by .... and .... (husband and wife who are
9married) (who intend to marry) (strike one). The parties hereby classify the marital
10property owned by them when this agreement becomes effective, and property
11acquired during the term of this agreement which that would otherwise have been
12marital property, as the individual property of the owning spouse. The parties agree
13that ownership of such property shall be determined by the name in which the
14property is held and, if property is not held by either or both spouses, ownership shall
15be determined as if the parties were unmarried persons when the property was
16acquired.
17 Upon the death of either spouse the surviving spouse may, except as otherwise
18provided in a subsequent marital property agreement, and regardless of whether
19this agreement has terminated, elect against the property of the decedent spouse as
20provided in section 766.589 (7) of the Wisconsin Statutes.
21 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.
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.
6 IF THE DURATION OF THIS AGREEMENT IS NOT TO BE LIMITED TO 3
7YEARS, MAKE SURE THAT 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 INDIVIDUAL 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".
15 Signature of One Spouse: ....
16 Date: ....
17 Print Name Here: ....
18 Residence Address: ....
19 (Make Sure Your Signature is Authenticated or Acknowledged Below.)
20Authentication
21 Signature .... authenticated this .... day of ...., .... (year)
22 *....
23 TITLE: MEMBER STATE BAR OF WISCONSIN
24 (If not, .... authorized by s. 706.06, Wis. Stats.)
25Acknowledgment
1STATE OF WISCONSIN   )
2 )   ss.
3 .... County   )
4 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.
7 *....
8 Notary Public ...., .... County, Wisconsin.
9 My Commission is permanent.
10 (If not, state expiration date: ...., .... (year))
11 (Signatures may be authenticated or
12 acknowledged. Both are not necessary.)
13 *Names of persons signing in any capacity should be
14 typed or printed below their signatures.
15 Signature of Other Spouse: ....
16 Date: ....
17 Print Name Here: ....
18 Residence Address: ....
19 (Make Sure Your Signature is Authenticated or Acknowledged Below.)
Loading...
Loading...