Custody is the right to make decisions regarding education (where should our child go to school?) what religion should they be raised in; should they get a driver’s license and medical (do they need that surgery at this time?).

Physical placement is where and when the child physically will be with each parent.  If a parent has more than 75% placement, they have primary placement.  If both parents have at least 25% placement, they have shared placement.  ((Note that generally the IRS uses the word custody for what is referred to as physical placement in Wisconsin.)

A guardian ad litem (often referred to as a GAL) is a licensed attorney, appointed by the court, to investigate and make recommendations as to what is in the best interests of a child, in your child’s position, when there is a dispute over custody and/or physical placement.

Collaborative divorce, while still not common, is getting more and more popular.  In a collaborative divorce, each side has an attorney to help them achieve what they want, but instead of spending time making an argument to the court, the parties and their attorneys work together by using appraisals, counseling and outside accountants and tax preparers if necessary to help both of you reach an agreement that you can live with.  This allows both of you to think “outside of the box” and address areas specific to you and your children.

The soonest a court, generally, will grant you a divorce is 120 days from the date that either a joint petition is filed or the respondent (the party who did not file) is served.  This is assuming that you have a complete marital settlement agreement reached by that time.  A judge may grant a divorce before the 120 days has passed, but it is unlikely and only done in very special circumstances.

Wisconsin is a “no fault” divorce state, meaning the judge does not consider whether one or both you have been a less than stellar spouse before granting a divorce from the other.  What brought you to the courthouse, is unlikely to be considered by the judge in dividing property, assets or debt.  (It could however, be considered as to character if there is a disagreement as to custody and/or physical placement of minor children.)

Wisconsin is a community property state (also referred to as a marital property state).  Generally, unless you and your spouse entered into a Marital Property Agreement (also known as a prenup), whatever property you own as of the date of the divorce, will be considered as one half yours and one half your spouses – unless it was received as a gift (not from each other) or inherited by one of you and not “commingled” or mixed into marital property.  Over simplified – the court makes a list of all property and assigns one half to one of you and one half to the other.  You should both walk away with the same amount of assets and/or debts.  How you get there, is best determined by both of you working together to reach an agreement on as many things as possible, before asking the judge to make that division for you.

A divorce case is a civil legal action.  The rules of discovery apply, meaning if requested, documents need to be disclosed and questions answered, under oath.  You will each have to testify, under oath, as to your income, expenses, assets and debts/liabilities.

A will states your wishes as to what happens to your property at the time of your passing.  A living will indicates your wishes as to what medical treatment you want to have to extend your life.

The court will appoint someone to be your personal representative to administer your estate.  If you have a living spouse, your estate will go to him/her unless you have children from someone other than your spouse.  (If you do, your spouse retains his/her half of the marital property and the remaining may go to your children.)  If you have a will, you can decide how to divide your property and name a personal presentative to handle administering it, as well as name a guardian for your minor children and set aside money to be received at a later date, among other things.

Probate is simply the court’s oversight of the transfer of your assets after you pass away.  It isn’t always necessary and often isn’t as bad as you may hear about.  You can attempt to bypass probate with some assets by naming beneficiaries, creating a transfer on death or payable on death (depending on the type of property) or by having less than $50,000 in value of property.

The person you name as your personal representative will get permission from the Register in Probate, to proceed as directed by you in your will and will have to provide documentation to show that they are doing what is expected of them, within a reasonable time frame.

Unlikely, if that is the focus of your financial hardship.  Most residential foreclosures are “non-deficiency” meaning  that while you may lose the right to retain your home, you will not likely be required to pay the difference between what the home sold at sheriff sale and the loan amount or for attorney fees incurred by the bank.

You are allowed to choose from either federal or state exemptions, which protect both real property and personal property in the event of filing of bankruptcy.  Which one you choose depends on your individual situation.

That depends on the type of debt you have.  Some debts, such as student loans, some taxes, and restitution are not likely to go away, but most credit card and medical bill type debt will go away.