Divorce and Spousal Maintenance (Alimony) in Minnesota
Spousal Maintenance (also referred to as “Alimony”) is a complex area of Family Law. Equalizing “cash flow” or available income is not required by Minnesota Statue 518.552; an award of Spousal Maintenance is based on need. Spousal Maintenance, unlike Child Support, does not provide the parties with a formula to determine if (and for what duration of time) money should be paid to a former spouse. In Minnesota, a Judge has discretion and must use existing statutes and precedent to determine whether an award of Spousal Maintenance is appropriate under the given facts and circumstances of the case.
Asset and Property Division During Minnesota Divorce
In Minnesota Divorce cases, the division of assets and debts is a process that requires financial expertise. 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 deemed appropriate (see Kaste v. Kaste, 399 N.W.2d 128, 130 (Minn. Ct. App. 1987). Each asset during a Divorce should be assigned a present value (including real estate, houses, retirement, brokerage and bank accounts, investments, stocks, pensions, vehicles, businesses, collectibles and other assets).
We Are an Experienced Minneapolis Family Law Firm
When hiring a Divorce Lawyer, you should inquire about their financial acumen and training. You may choose to speak with a lawyer who has an advanced degree (such as an MBA) or who is licensed in U.S. Tax Court in order to provide you with the best opportunity to properly address all of the financial issues associated with Spousal Maintenance.
We Are Located in Linden Hills
Located in the historic Linden Hills neighborhood of Minneapolis, Lake Harriet Law Office Attorneys Randall A. Smith and Amber C. Bretl provide outstanding legal representation exclusively in the areas of Divorce and Family Law.
Lake Harriet Law Office represents clients in Minneapolis, Edina, Bloomington, Golden Valley, Hopkins, Eden Prairie, Plymouth, Maple Grove, Hennepin County, Ramsey County, Roseville, St. Paul, Minnetonka, Anoka County, Wright County, St. Louis Park and Scott County.
Please call 612-750-4843 or complete the Contact Us form to schedule an office consultation.
Randall A. Smith – Principal Attorney 612-750-4843
Amber C. Bretl – Associate Attorney 612-223-8925