Property Division

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There are a number of issues involved in dividing the assets and debts of the parties to a divorce, including valuation methods and determining what is "marital" and what is "non-marital." Minnesota law generally provides for an equitable (almost always equal) division of marital property.

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?

In parts one and two, we covered an overview of military divorce and discussed special considerations regarding children and military divorce. In our final post in this series, we’ll examine implications for pensions and alimony as well as how to advocate for your rights and a fair result.

How Military Pension Works

When a service…

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

A divorce affects every aspect of your life: social, emotional, and physical. Divorce can even disturb your business. Your small business is one of your most important assets. Know how to protect it.

Here’s a common scenario: you marry your spouse when your business is worth $100,000. You file for divorce 20 years later. Your…

During a high net worth divorce, or when a couple has complex finances that need to be divided, a forensic accountant assesses the value of marital assets and debts to prepare to divide property. The accountant’s work and testimony can be used in court to ensure an equitable outcome.

Types of Assets Assessed

A forensic…

You made a painful decision to end your marriage after months of therapy and emotional conversations. You’re coming to terms, emotionally, with the idea of separating, and now you need to split up your assets and debts. How can you ensure this process goes fairly? What if you’re worried that your spouse’s grip on the…