Podcast: Valuation & Division of Assets & Liabilities In Divorce

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In this edition of The Family Law Show we summarize how judges value and allocate assets and debts as parties dissolve their marriage. Every case, regardless of the age, income or educational level of the litigants, will involve an analysis of the relevant property interests of the couple - even if they've only been married for a short time. Topics discussed in this podcastinclude the concealing of assets, tools for uncovering assets, the difference between marital and non-marital property, and the general rule of an equal division of assets and debts, despite the relevant statute requiring a "just and equitable" distribution. Run Time: 13:24 « Continue »

Minnesota Divorce: Asset & Debt Division Summary

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Minnesota law categorizes property as marital or non-marital. Marital property is usually divided equally while non-marital property is allocated entirely to the party who maintains the non-marital interest. Non-marital property involves the interest a party has in property accumulated prior to a marriage or property received as a gift or inheritence by one spouse, individually, during a marriage. Marital property involves any property that the parties accumulate during their marriage, including home equity, retirement assets, business interests, bank accounts, investments, motor vehicles and other property of value. In order to ascertain the value of property, experts are typically « Continue »

Jackpot by Josh! Idaho Lottery Winner’s Estranged Husband To Recoup 40 Million Bucks

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Holly Laiti has yet to speak publicly, but sources indicate that the 29 year old Idaho resident is the second winner in the second-largest mega-millions jackpot in its history. One interesting twist? Her estranged husband has been arrested nearly a dozen times, and convicted of offenses such as domestic assault, drug possession and providing alcohol to a minor. That's not where the story ends. "Estranged" is not a legally operative term. "Divorced" is. The couple, apparently, have not dissolved their marriage, despite living apart for an extended period of time. The result? Josh Laiti, Holly's husband, is the country's newest millionaire - to the tune of 40 million big ones - despite the « Continue »

Personal Injury Settlements: Marital Or Non-Marital Property Under Minnesota Law?

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Minnesota divorce statutes distinguish between marital and non-marital property. Marital property involves property acquired during the marriage, while non-marital property involves an asset that was brought into the marriage or received as an inheritance or gift to one spouse but not the other during the marriage. I'm often asked how Minnesota law treats a personal injury settlement. The answer rests in the nature of the recovery. In Minnesota, an injury survivor can recover damages for a host of "losses," including past and future wage loss, past and future medical expenses and pain and suffering. Because wages are considered marital property, the past wage loss portion of an injury « Continue »

How Does Title Impact Property Division?

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One of the more common questions we face from a potential client involves title to property- whether a car, boat, house, ATV, business, bank account or otherwise. They ask, "My spouse says that because my [insert the property interest] is not titled in my name, I am not entitled to any of it. Is that true?" One highly unique aspect of family practice is the fact that the litigants, unlike basically all other lawsuits, often continue to speak with one another (and even live together) during litigation. Sometimes that can be productive - if the parties are discussing issues in good faith. Other times, one spouse is simply trying to play games and get inside the head of the « Continue »

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