When a couple with children decides to end their marriage, the division of property can often become a challenging and contentious matter. This is especially true when there are special needs children involved. Special needs children require additional financial support and specialized care, which can be quite costly. In the state of Wisconsin, property division is guided by state law and can have a significant impact on both parents and children.
Understanding the Complexity of Property Division Laws in Wisconsin
Wisconsin operates under the community property system, whereby all marital property is divided equally between both spouses during a divorce. Marital property encompasses all assets acquired by either spouse during the course of the marriage, regardless of whose name it is in. This can include, but is not limited to, the marital home, cars, investments, retirement accounts, and various other assets.
It’s important to note that Wisconsin law also recognizes the existence of "non-marital" property, which is not subject to division. Non-marital property consists of assets owned by either spouse prior to the marriage, inheritances, gifts, personal injury settlements, and other specifically designated property. However, if non-marital property becomes commingled with marital property, it can potentially become subject to division.
Factors to Thoughtfully Consider in Property Division
When it comes to dividing property during a divorce that involves special needs children, numerous factors demand careful consideration. These factors include, but are not limited to:
1. Financial Needs of the Child
Special needs children require individualized care that often comes with a substantial price tag. In the process of determining property division, the court takes into account the child’s financial needs, encompassing medical expenses, therapy costs, and any other expenses related to their specific condition.
2. Future Support Requirements
It’s crucial to recognize that parents may be required to provide ongoing support for their special needs child long after the divorce has been officially finalized. In certain instances, these children may continue to require support well into adulthood. The court takes this into consideration when making decisions regarding property division.
3. Income and Budget Situations
Both parents’ income and budgetary circumstances are essential factors that influence property division and child support payments. If one parent has a higher income and fewer expenses than the other, they may be obligated to contribute more significantly towards providing support for the child.
Special Considerations for Property Division Involving Special Needs Children
When special needs children are involved in a divorce, the process of property division becomes more intricate and nuanced. It’s vital to consider several specific aspects to ensure that the children’s needs are adequately met throughout the process. These considerations include:
1. Trusts as a Means of Financial Security
Establishing a trust for special needs children can provide them with long-term financial security, even after the divorce has been finalized. Special Needs Trusts (SNTs) offer protection for the child’s eligibility for government benefits while also catering to their unique requirements, such as therapy, medical expenses, and education.
2. Marital Home as a Key Asset
The marital home often holds significant value in the context of a divorce. In cases where a special needs child necessitates a specific living environment, such as a wheelchair-accessible home, the court may award the home to the primary caregiver. This decision aims to ensure that the child’s unique needs are adequately addressed.
3. Child Support as an Essential Aspect
Child support plays a fundamental role in property division within divorces that involve special needs children. These support payments can help cover various expenses, including medical bills, therapy costs, and other necessary expenditures for the ongoing care of the child.
4. Waiving Spousal Support
In situations where one parent assumes the primary caregiver role for a special needs child, they may require additional support. Through the process of waiving spousal support or agreeing to a reduced amount, more funds can be allocated towards meeting the child’s care requirements.
Bringing it All Together
Divorce cases that involve special needs children are inherently complex and warrant utmost care and consideration. Property division must be approached with the child’s best interests in mind, taking into account their unique needs and long-term financial requirements. For couples in this situation, it is highly advisable to seek the assistance of attorneys experienced in this specific area of law. By doing so, they can ensure that they fully comprehend their rights and options, ultimately working towards securing the most favorable outcome for all parties involved.