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76 Marq. L. Rev. 519 (1992-1993)
Divorce Law: Exclusions and Disproportionate Divisions of Marital Estate

handle is hein.journals/marqlr76 and id is 525 raw text is: DIVORCE LAW: EXCLUSIONS AND DISPROPORTIONATE DIVISIONS OF MARITAL ESTATE HONORABLE WILLIS J. ZICK* I. INTRODUCTION This Article examines the exclusion of gifted and inherited assets from the divisible marital estate upon divorce, under Section 767.255 of the Wis- consin Statutes.' It discusses each of the following important areas: 1. The identity and character of excludible assets. 2. Income from excludible assets. 3. Appreciation of excludible assets. 4. Life insurance and joint tenancy property as excludible assets. 5. The hardship exception to exclusion. It also considers the related issue of unequal division of the marital es- tate to compensate for gifted or inherited assets that have lost their exclud- ible status or for assets owned prior to marriage, under Section 767.255(12) and Section 767.255(2), respectively. Also considered is unequal division under Section 767.255(2r) in favor of the nonrecipient spouse to compen- sate for excludible assets awarded to the recipient spouse. Finally, this Article considers the property division treatment of three classes of assets: 1. Compensation for personal injury. 2. Retirement and disability benefits. 3. Accounts receivable used as a source of income for maintenance. II. EXCLUSION OF GIFTED AND INHERITED ASSETS A. General Principles Section 767.255 governs the division of property in divorce actions. It excludes from division gifted and inherited assets or assets purchased with the proceeds thereof and establishes a presumption of equal division of all other assets as follows: * Circuit Court Judge of Waukesha County, Wisconsin. B.A. 1955, University of Wisconsin (Phi Beta Kappa); LL.B. 1956, University of Wisconsin (Order of the Coil). 1. Wis. STAT. § 767.255 (1991-92).

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