Attorneys Randall A. Smith and Amber C. Bretl represent clients in Divorce, Child Custody, Child Support, Parenting Time (Visitation), Property Division, Spousal Maintenance (Alimony) Cases, Family Law Appeals and Antenuptial (Prenuptial) Agreements.
Top Divorce Issues in Minnesota
Each Divorce case is unique and the legal approach taken will vary depending on the facts of the case and the needs and interests of the client. Financial issues such as property division, asset valuation, retirement account analysis and tax and financial planning are vital components of any Divorce case.
Financial Issues and Divorce
In Minnesota Divorce cases, the division of assets and debts is a process that requires financial expertise and significant attention to detail. The division of assets and debts does not need to be mathematically equal, as addressed in Johns v. Johns, 354 N.W.2d 564, 566 (Minn. Ct. App. 1984). However, in most long-term marriages, an equal division is appropriate (see Kaste v. Kaste, 399 N.W.2d 128, 130 (Minn. Ct. App. 1987). Each asset should be assigned a present value (including real estate, retirement, brokerage and bank accounts, investments, pensions, vehicles, businesses and other assets).
Lake Harriet Law Office represents clients in Minneapolis, Edina, Bloomington, Golden Valley, Hopkins, Eden Prairie, Hennepin County, Ramsey County, St. Paul, Wright County, Anoka County and Scott County.
Divorce Lawyers Smith and Bretl
Please call 612-750-4843, or complete the Contact Us form to schedule a consultation.
Attorney Randall A. Smith 612-750-4843
Attorney Amber C. Bretl 612-223-8925
From our St. Louis Park, Minnesota Family Law Blog:
In a Divorce case, a just and equitable division of assets does not need to be precisely equal, and you are not entitled, as a matter of law, to “half of your half”.
In many divorce cases, the parties simply agree to divide the assets equally (although there are many valid reasons to divide the assets in some other manner, such as a 60:40 or 65:35 asset division). There is no statute in Minnesota that guarantees that you will receive exactly one-half of the marital estate. When hiring a Divorce lawyer, it is important to work with someone who has an exceptional understanding of the financial issues that can impact a couple during (and after) a Divorce. The preparation of a correct balance sheet that identifies the present value of assets and debts is vital for the proper negotiation (and settlement) of the financial portion of a Divorce case. In some Divorce cases, it is also necessary to work with a Financial Planner, a CPA and sometimes an Actuary in order to provide the best possible framework for future success after the Divorce has been completed. High asset and high net worth Divorce cases provide additional issues that sometime require creative methods for the division of assets (such as stocks, business interests, real estate and investment portfolios).