Management and control of property of spouses

766.51 Management and control of property of spouses. (1) A spouse acting alone may manage and control: (a) That spouse’s property that is not marital property. (am) Except as provided in subs. (2) and (3), marital property held in that spouse’s name alone or not held in the name of either spouse. (b) Marital property held in the names of both spouses in the alternative, including marital property held in a form designating the holder by the words “(name of one spouse) or (name of other spouse)”. (d) A policy of insurance if that spouse is designated as the owner on the records of the policy issuer. (e) Any right of an employee under a deferred employment benefit plan that accrues as a result of that spouse’s employment. (f) A claim for relief vested in that spouse by other law. (1m) (a) Notwithstanding any provision in this section except par. (b), for the purpose of obtaining an extension of credit for an obligation described under s. 766.55 (2) (b), a spouse acting alone may manage and control all of the marital property. (b) Unless the spouse acting alone may otherwise under this section manage and control the property, the right to manage and control marital property under this subsection does not include the right to manage and control marital property described in s.