Mitigating Tax Liability in Divorce

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…

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)…

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…

Top Minnesota Divorce Questions - What is the Initial Case Management Conference (ICMC)?

In Minnesota Divorce cases, the Initial Case Management Conference (ICMC) is typically the first court appearance with a Judge or Referee.  The ICMC is an informal hearing that generally takes place within 30 days of the case filing. The ICMC provides the parties with an…

Top Minnesota Divorce Issues - How are Assets and Debts Divided During A Divorce?

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…

Minnesota Divorce and Spousal Maintenance

In Minnesota Divorce cases, Spousal Maintenance (also referred to as “Alimony”) is a topic that is often misunderstood, frequently litigated at the District Court level, and is often appealed to the Minnesota Court Of Appeals.  Spousal Maintenance, unlike Child Support, does not provide the parties…

Top Minnesota Divorce Question - How Long Will My Case Last?

One of the most important questions facing any person who is thinking about divorce is “How long will my case last, or how long will it take for my divorce to be final.”  These are important questions, and the answer is not always simple.  Many…