Can Property settlements be modified after final judgment?

March 26, 2014 (Press-News.org) Can Property settlements be modified after final judgment?

Article provided by Nelson & Davis LLC
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Most divorced individuals will admit that their divorce was a very stressful time. There are a lot of decisions to make, and it can be difficult to know what is best for their specific situation. Some may even opt to make changes if they had the opportunity.

When going through a divorce in Wisconsin, the couple needs to be sure that they know how the divorce will impact each of their lives. A divorce is a significant change, and this change will often bring increased expenses. The reality of divorce is that as the expenses increase, the available income often decreases, as the spouses will be setting up separate residences at some point. This means less money for each individual to deal with financial challenges that often arise after a divorce has been finalized.

Some spouses may wish to make changes to certain portions of their divorce agreements, specifically concerning the property division. Litigants are often surprised to learn once these agreements have been made, they are nearly impossible to change. Courts will generally not allow couples to change any of the property division agreements once the divorce is final. One exception to this rule is if it is discovered, post divorce that one of the spouses was concealing assets. In this rare exception the court may review the agreement to determine if changes should be made.

Too many people find themselves stuck with divorce agreements that have a negative financial impact on their families and their lives. Instead of focusing on starting fresh, they are spending most of their time dealing with the stress of trying to make ends meet. They made poor decisions during the divorce process, and are unable to go back and make any changes to the agreements they have in place.

Before you sign any divorce agreements, be sure that you completely understand what will happen once the divorce is final. You need to be certain that you know the true value of the property that you and your spouse will be dividing in order to receive a fair share. You should work with an experienced family law attorney during your divorce to ensure that your rights are protected at this time.

While you may be tempted to simply agree to the demands or offers you receive from your soon-to-be ex-spouse, just to "get it over with", you have to remember that they do not have your best interests in mind. Your attorney can assist you during the process examining different scenarios and review proposals. The goal of your attorney is to provide you with the knowledge and guidance to help craft an agreement that best meets your needs, within the parameters of the law, now and in the future.