Minnesota Divorce and Property Division – Will You Receive Exactly Half?

In Minnesota Divorce cases, you are not necessarily entitled to one-half of the marital assets.  Instead, Minnesota law requires an “equitable division” of assets and debts (and this is quite often something other than 50:50).  In many Divorce cases, the parties simply agree to equally divide the assets and debts.  There is significant Minnesota case law, including several recent Minnesota Court Of Appeals decisions, that state again that the division of assets need not be “equal,” only equitable (and the same rule applies to the division of marital debts).

While interviewing and choosing a Divorce lawyer, you should inquire about their financial acumen and training, as well as their understanding of advanced financial issues such as present value calculations and the asset allocation of retirement and brokerage accounts.  In many Divorce cases, it will be necessary to work with a Neutral Financial Planner, CPA, ASA, Actuary or Neutral Real Estate Appraiser in order to provide neutral valuations of various assets, such as a business, partnership, 401k, 403b, other Qualified Plans, IRA, Brokerage Accounts, Pension or Real Estate.  In addition, a neutral expert can perform a non-marital tracing of financial accounts and real estate. 

Located in the historic Linden Hills neighborhood of Minneapolis, Lake Harriet Law Office provides highly experienced and personalized legal representation exclusively in the areas of Divorce and Family Law.

It is important to have an experienced and assertive Divorce attorney who can effectively advocate your position during the case and who understands every phase of the Family Law process, including the various Alternative Dispute Resolution (ADR) processes such as Family Mediation, Social Early Neutral Evaluation and Financial Early Neutral Evaluation.  Most Divorce cases are resolved at some point after the Initial Case Management Conference and prior to a Trial date.

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.

Published On: March 28, 2014Categories: Family Law Updates

Share This Story, Choose Your Platform!

Want To Learn More?
Call Us Today!

We represent clients throughout the Minneapolis area in Divorce, Financial Issues, Child Custody, Child Support, Parenting Time, Property and Asset Division, Spousal Maintenance and more!