Minnesota Divorce and Property Division – Equitable vs. Equal.
Equitable does not necessarily mean equal (check Black's Law Dictionary). 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 "exactly half ." Minnesota Statute 518.58, subd. 1, states that the District Court is required [...]
Who Gets The House? And Other Questions Relating to Division of Assets.
When our parents were young, life progressed in this fashion: finish school; get married; buy a house; have children; retire. As life changed, this progression has also changed for many. Maybe you bought a house after you finished school and before you even met your spouse. Maybe you had children [...]
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 [...]
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. [...]