Minnesota Divorce and Property Division – Are You Really Entitled To Half?
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 “half of your half.” Minnesota Statute 518.58, subd. 1, states that the district court is required to make a “just and equitable” division of assets – there is no mention of the term “equal.” (and the same rule applies to the division of marital debts). See also Lynch v. Lynch, 411 N.W.2d (Minn. Ct. App. 1987).
When choosing a Divorce lawyer, you should inquire about their financial acumen, training and advanced education (including their understanding of the present value calculation of assets and debts), which is essential for the proper negotiation of the financial portion of a Divorce case. It is necessary, in some cases, to work with a Neutral CPA, Actuary or Neutral Real Estate Appraiser to provide correct valuations for various assets, including Retirement Accounts, other Qualified Plans, IRAs, Brokerage Accounts, Pensions and Real Estate.
Located in the historic Linden Hills neighborhood of Minneapolis, Lake Harriet Law Office provides experienced and personalized legal representation exclusively in the area of Divorce and Family Law.
It is important to have an experienced and assertive attorney who can effectively advocate your position during the case and who understands every phase of the Family Law legal process, including various Alternative Dispute Resolution processes such as Mediation and Early Neutral Evaluation. Most Divorce cases are resolved at some point after the Initial Case Management Conference.
Lake Harriet Law Office represents clients in Minneapolis, Edina, Bloomington, Golden Valley, Hopkins, Eden Prairie, Southwest Minneapolis, Linden Hills, Plymouth, Hennepin County, Ramsey County, St. Paul, Anoka County and Scott County.
Please call 612-750-4843 or complete the Contact Us form to schedule an office consultation.