We use methods from nonstandard analysis to give a very simple construction of a space and show that its elements can be used to represent generalized Wiener functionals. This space is large enough to include the Kontratiev space and is flexible enough to handle generalized stochastic processes, stochastic differential equations and stochastic calculus. In contrast to classical spaces, complicated existence results and limit constructions are replaced by the simple applications of saturation properties of nonstandard models