Minnesota Divorce – Property Division
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).
In many Divorce cases, Mediation and other ADR process such as Financial Early Neutral Evaluation can help the parties resolve some or all disputes financial issues. In some Divorce cases, a Trial is necessary in order to provide the best opportunity for the resolution of the contested case issues. Some of the most frequently litigated disputes in Minnesota and Hennepin County Divorce cases include the division of assets and debts, spousal maintenance (alimony), child support, child custody, parenting time (visitation), division of retirement accounts and pensions and non-marital claims.
Lake Harriet Law Office represents clients in Minneapolis, Edina, Bloomington, Golden Valley, Hopkins, Eden Prairie, Southwest Minneapolis, Linden Hills, Hennepin County, Ramsey County, St. Paul, Wright County, Anoka County and Scott County. Please call 612-750-4843 to schedule a consultation with experienced Minneapolis Family Lawyer and Mediator Randall A Smith.