Wisconsin Statutes 861.01 – Ownership of marital property at death
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 861.01
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Decedent: A deceased person.
- Property: includes real and personal property. See Wisconsin Statutes 990.01
(1) Surviving spouse’s one-half interest in marital property. Upon the death of either spouse, the surviving spouse retains his or her undivided one-half interest in each item of marital property. The surviving spouse’s undivided one-half interest in each item of marital property is not subject to administration. Ownership and management and control rights are set forth under ss. 857.01 and 857.015.
(2) Interest of a 3rd party in marital property. A 3rd party who is a successor in interest to all or part of the decedent‘s 50 percent interest in marital property is a tenant in common with the surviving spouse.
(3m) Personal injury damages; lost earnings. Section 766.31 (7m) determines the rights of a surviving spouse to that part of a personal injury claim that represents future lost earnings of the surviving spouse.
(4) Enforcement of surviving spouse’s marital property rights in nonprobate assets. Section 766.70 applies to enforcement of a surviving spouse’s marital property rights in nonprobate assets.
(5) Division of marital property on aggregate basis. Section 766.31 (3) (b) determines how marital property may be divided upon the death of a spouse.