Property division can be complicated by an inheritance received during the marriage. Among other issues, it may be necessary to retain an experienced expert who can trace assets to funds from an inheritance. In a recent Wisconsin appellate decision, a husband appealed a divorce judgment that challenged property division. He argued the court had made a mistake in several respects regarding the valuation and division of property inherited by him. If you have questions about property division in the context of a marital separation, reach out to a Wisconsin divorce attorney.
The couple in this case, both of whom worked in real estate, had married in 2007 and divorced 10 years later when they were in their fifties. Both had acquired investment properties for years. They had attorneys at earlier points in the divorce, but appeared pro se at a final pretrial conference and final evidentiary hearing. The court listened to evidence about many properties acquired before and during the marriage, as well as retirement accounts that were obtained before and during the marriage, bank accounts, multiple vehicles debt, personal property, tax liabilities and investments.
The husband had filed a financial disclosure statement that was not accurate. The primary conflict had to do with a $1.5 million inheritance received during the marriage and he needed to make a disclosure of all assets that were owned separately or jointly long before trial. The court denied maintenance to the parties. Regarding property division, the court awarded most assets to the husband, but also awarded significant assets to the wife. The husband appealed.