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.

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

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?

Divorce challenges those caught in the middle in surprising and unpredictable ways. Whether your husband blindsided you by revealing that he had been having an affair with someone at work, or you and your spouse separated after less than a year, after realizing that the relationship had no enduring foundation, you likely have a lot

When you end a marriage, you understandably face a myriad of emotions, including sadness, anger, frustration, grief – and possibly even relief. The emotional turmoil that you face can mean that your decision-making skills sometimes suffer. However, you cannot afford to let your feelings rule you during this critical time, since your financial future could

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