Wisconsin § 766.59 - Unilateral statement; income from nonmarital property.

§ 766.59. Unilateral statement; income from nonmarital property.

766.59(1) (1) Except as provided in s. 766.625 (2) (b) 2. , a spouse may unilaterally execute a written statement which classifies the income attributable to all or certain of that spouse’s property other than marital property as individual property. 766.59(2) (2) 766.59(2)(a) (a) The statement is executed when signed by the executing spouse and acknowledged by a notary. If executed before January 1, 1986, the statement is effective on January 1, 1986, or at a later time if provided otherwise in the statement. If executed on or after January 1, 1986, the statement is effective when executed or at a later time if provided otherwise in the statement. 766.59(2)(b) (b) Within 5 days after the statement is signed, the executing spouse shall notify the other spouse of the statement’s contents by personally delivering a copy to the other spouse or by sending a copy by certified mail to the other spouse’s last-known address. Failure to give notice is a breach of the duty of good faith imposed by s.