Dividing Assets and Debts During a Divorce

Dividing Assets and Debts During a Divorce

Financial concerns are often a sticking point when two people are going through a divorce.  Not only can splitting assets become a point of contention in some cases, but resolving debt issues is also a major concern.  Determining who will be responsible to pay off…

Top Minnesota Divorce Issues - Depletion vs. Dissipation of Property

Top Minnesota Divorce Issues – Depletion vs. Dissipation of Property

Although Depletion and Dissipation of property carry different meanings, in Minnesota the terms are generally used synonymously by the Court, and by Divorce lawyers.  Dissipation is defined by Minnesota case law as “wasting or expending funds foolishly.” Volesky v. Volesky, 412 N.W.2d 750 (Minn. Ct.…

Top Minnesota Divorce Issues - Spousal Maintenance and Income Imputation

Top Minnesota Divorce Issues – Spousal Maintenance and Income Imputation

During a Minnesota divorce proceeding, the Court may order that one spouse pay spousal maintenance to the other spouse.  An award of spousal maintenance is based upon need, and the primary reason for spousal maintenance is to provide cash flow to a spouse in order…

Minnesota Divorce and Property Division - Equitable vs. Equal.

Minnesota Divorce and Property Division – Equitable vs. Equal.

Equitable does not necessarily mean equal (check Black’s Law Dictionary).  In Minnesota Divorce cases, the division of Assets and Debts does not need to be mathematically equal, and you are not entitled, under Minnesota law, to “exactly half .”  Minnesota Statute 518.58, subd. 1, states that…

Divorce and Spousal Maintenance - Cash Flow Analysis

Divorce and Spousal Maintenance – Cash Flow Analysis

In Minnesota, Spousal Maintenance (Alimony) is based upon need, and not the equalization of cash flow (equalizing monthly cash flow is not required or even addressed by Minnesota Statue 518.552).  Unlike Child Support, Spousal Maintenance does not provide the parties with a basic formula to…

Spousal Maintenance (Alimony) and Cash Flow - No Need to Equalize

Spousal Maintenance (Alimony) and Cash Flow – No Need to Equalize

In Minnesota, Spousal Maintenance (Alimony) is based upon need, and not the equalization of cash flow or income.  The 2017 Curtis v. Curtis decision from the Minnesota Supreme Court stated that “need” is the first step in analyzing spousal maintenance.  Some divorce lawyers like to…