Can I pay in installments with my Wisconsin divorce settlement? | Sterling Law Offices, S.C. global $post;
Call for Immediate Assistance - (262) 221-8123 Book My Consult

– from Martin M. in Cudahy, WI

Question Details:

The court in my divorce decided that I must pay my wife $20,000 as part of the property division. Is it possible that I can make the payments in installments instead of a lump sum?

Family Law Attorney Response:

It is possible to request the payments be made in installments, however there must be a reason for it.

In the case Overson v. Overson, 124 Wis.2d 13, 360 N.W.2d 796 (Ct. App. 1985), it was decided that it is to a court’s discretion whether to allow installment payments for a divorce settlement. Judges must give a reason for their decision on a lump sum or installment payments. Also, the trial court must compensate the recipient spouse for the money the award would earn during the installment period if it had been paid in full at the time of judgment or explain its failure to do so, either through interest or considering the present value of property division payable in the future.

If you feel you still want to make installment payments, give me a call to set up a consultation.

Dan Exner, J.D.

Family Law Attorney

lexis-nexis-image lawyers-image justia-image hg-image findlaw-image avvo-image