Mitigating Tax Liability in Divorce
Divorce can be emotional, confusing and sometimes expensive. During a divorce proceeding, any advice to save money, protect cash flow or mitigate tax liability is welcomed by a client. Fortunately, there are ways to address financial issues and mitigate taxes to help offset the existence of other new expenses. You [...]
Finalizing Divorce Proceedings
There are certain issues that must be cleared up and questions that must be asked of both parties to finalize a divorce proceeding. If these questions are not asked and answered properly, the terms of the divorce may be contested at a future date. While you may ask yourself, “Who [...]
Basic Rules for Family Law Motions
Family Law can be very emotional compared to many other areas of law. Both parties are taking a huge step to change their life as they have known it, whether it be through divorce, adoption, or child custody. That is why it is so very important for the attorneys involved [...]
Child Support and Taxes: 5 Essential Rules
Tax season is upon us. During this time of year, we often focus on things like deductions and taxable income, and how we can maximize our tax credits and deductions to obtain the largest benefit from the IRS. When reviewing tax laws, attorneys and parties going through the legal process [...]
What You Need to Know About Karon Waivers and Spousal Maintenance
When going through a divorce, Minnesota allows for spousal maintenance (or alimony) based on statutory qualifications. Once an award for spousal maintenance is established it can be later modified if either party brings a motion for modification to the court because of changed circumstances.These changed circumstances include job status, income, [...]
Minnesota Divorce and Spousal Maintenance – Equalizing Cash Flow Is Not Part of The Algorithm
In Minnesota, Spousal Maintenance (Alimony) is based upon need. Equalizing monthly cash flow (or available income) is not required by Minnesota Statue 518.552. Unlike Child Support, Spousal Maintenance does not provide the parties with a formula to determine if (and for what duration of time) money should be paid to [...]
Minnesota Divorce and Property Division – What Does Equitable Division Mean?
In Minnesota, the division of assets and debts in a Divorce does not need to be mathematically equal, as addressed in Johns v. Johns, 354 N.W.2d 564, 566 (Minn. Ct. App. 1984). Equitable does not necessarily mean equal. In most long-term marriages, however, an equal division is deemed appropriate (see [...]
Curtis v. Curtis – Minnesota Spousal Maintenance 2016
The Minnesota Supreme Court will hear oral arguments in the case of Curtis v. Curtis on January 12, 2016 (the June 22, 2015 decision by the Minnesota Court of Appeals affirmed the decision of the trial court (which required a spouse to liquidate an award of property and assets to [...]
Property Division During Divorce in Minnesota
The division of assets during a Minnesota Divorce is a process that requires financial acumen and significant attention to detail. The division of assets (as well as debts) does not need to be mathematically equal, as addressed in Johns v. Johns, 354 N.W.2d 564, 566 (Minn. Ct. App. 1984). In [...]
Minnesota Spousal Maintenance (Alimony) Trends During Divorce
The recent Minnesota Court of Appeals decision in Curtis v. Curtis affirmed the decision of the trial court (which required a spouse to liquidate an award of property and assets to meet post-divorce expenses and monthly budget). The Minnesota Supreme Court will hear the case and will issue their decision [...]