Parenting time and custody may seem like natural areas of contention, but sometimes, the nastiest divorces spiral out of control due to disagreements regarding property division. This ordeal can be frustrating even when spouses part on amicable terms. In the interest of clarity, we’ve highlighted a few of the specific aspects of property division worth considering as a Minnesota resident in the midst of divorce:

Continue Reading Property Division in Minnesota: How Personal Property Is Split Up

When picturing the financial implications of divorce, most spouses worry about their houses or alimony. Often, however, other issues warrant more attention. For some couples, retirement can be the most impacted aspect of divorce — and also, the most difficult to navigate. This is especially true in Minnesota, where courts make it clear that, when one spouse earns retirement benefits, the other spouse enjoys a “just and equitable” share, merely due to their status as married.

Continue Reading How Will Divorce Affect Your Retirement Plans? What Can You Do About It?

Divorce increasingly occurs online, with email accounts and social media profiles playing an especially important role in the process. The online interference doesn’t end there, however. Many couples own digital property, which, like any marital assets, must be divided equitably upon divorce. Below, we offer insight into the process of dividing digital assets.

Continue Reading How Online Assets Are Divvied Up During Divorce

Alimony, property division, tax planning… the financial aspects of your divorce can cause undue stress and confusion. Unfortunately, the difficulties are far from over after you sign the final papers. Once you’ve addressed the immediate concerns of separation, it’s time to think long-term. The sooner you adjust your estate plan, the sooner you can enjoy the closure that comes with a truly completed dissolution. Get started with these essential projects:

Continue Reading What Estate Planning Projects Do You Need to Do After Your Divorce?

Since annulling a marriage essentially makes it null and void, it seems on the surface as if it is the same as never having married in the first place. However, Minnesota is one of several states that modeled its laws after the Uniform Marriage and Divorce Act. This Act recognizes the concept of innocent (or putative) spouses, who are individuals who enter into marriage in good faith that the marriage was legally valid.

Continue Reading An Annulment Can Leave Either Party With Long-Term Rights

Minnesota provides for only “no-fault” divorces, which means that no one technically takes the blame for the break up of the marriage. Instead, the state bases divorces on irreconcilable differences between the spouses. However, the state does consider “fault” when looking at property division.

Continue Reading Marital Property vs. Non-marital Property: What’s the Difference?

Once a divorce decree has been entered in Minnesota, there are only a limited number of situations in which a party to the action can re-open (or seek to vacate) it. To be clear, to “re-open” a decree represents an attempt to change something (like a property settlement) that is otherwise final in nature. This is distinguished from a motion to “modify” custody, parenting time, child support or spousal maintenance. There are seven legal principles that provide a basis to re-open: (1) clerical error; (2) fraud; (3) mistake; (4) newly discovered …

Continue Reading Standards for Re-Opening a Minnesota Divorce Decree

A divorce is a very difficult process. Typically there will be disagreement on parenting issues and finance. One asset the is usually deemed the most valuable within a divorce is a business. It is crucial to understand the various ways to appraise a business, if you own one. There are three common approaches to having a business appraised: The asset approach: Based on the value of the assets and liabilities of your business, including tangible and intangible assets. The income approach: Estimates the value of the business through expected …

Continue Reading How Businesses are Appraised as Part of a Divorce

Most divorces involve some type of division of property. However, not all assets or property are subject to division. Part of the divorce process explores the property of each party to determine what exactly needs to be divided. During this process, property is labeled as either “marital” or “non-marital.” Determining whether property is marital or non-marital is crucial in a divorce. In general, non-marital property will not be part of the “equitable” distribution between the parties. Non-marital property, as its name suggests, is property that …

Continue Reading The Distinction Between Marital and Non-Marital Property Interests

A divorce doesn’t just involve the two spouses and their lawyers. In any divorce proceeding, there are a variety of legal factors involved.  The more issues present, the more experts will generally need to be involved. Some of the typical roles in a divorce include a home appraiser, custody evaluator, vocational assessor, business appraiser, and an actuary. The number of experts present will obviously increase the overall cost of the divorce, but they will also ensure that the proceedings are as fair as possible. A home appraiser is the most common …

Continue Reading The Many Roles Experts Play in a Divorce