Will the Court Allow Installment Payments for a Property Division Order?

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)[1], 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.

Will the Court Award Interest on Installments From the Property Division?

In property division matters, the court actually maintains full discretion.

This matter has been brought before the courts on many occasions. In the case of Overson v. Overson 140 Wis. 2d 752, 412 N.W.2d 896 (Ct. App. 1987), the wife sought interest on the payments because they were to be paid in 11 installments. The court of appeals instructed the trial court to explain why it had failed to explain why it did not award interest. The trial court stated that it held full discretion on the matter and that, among other reasons, the wife's attorney did not request it.

Will I Have to Pay Interest on Property Division Installments?

The court does allow installment payments for property division. However, the court has the final decision regarding installment payments and interest.

As seen in the ruling of Overson v. Overson, 140 Wis.2d 752, 412 N.W.2d 896 (Ct. App. 1987), it is at the discretion of the trial court whether or not interest is allowed on the balance due in property division payable by installments. If a timely appeal occurs regarding support payments, the trial court has the discretion to retroactively adjust any portions of the original judgment.

References: [1]Overson v. Overson (1985)

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