Top Property Division Issues In Minnesota Divorce

During a Minnesota Divorce case, the division of assets, property and debts is a process that requires substantial financial acumen and precise attention to detail.  Despite what you may have been told, the division of assets during divorce does not need to be mathematically equal, and, under Minnesota law, you are not necessarily entitled to “half of your half.”  In many Minnesota Divorce cases, the parties agree to divide the assets on the balance sheet in a manner that is roughly “equal.”  There is significant recent Minnesota case law, including several unpublished Minnesota Court Of Appeals decisions, that correctly outline that the division of marital assets need not be equal, only equitable (and the same rule applies to the division of marital debts).

When and interviewing and choosing a Divorce lawyer, you should inquire about their financial acumen and training, as well as their understanding of the preparation of a balance sheet that properly identifies the present value of assets and debts, which is vital for the proper negotiation, presentation (and settlement) of the financial portion of a Divorce case. 

In many Divorce and Family Law cases, it is necessary to secure the expertise of a Neutral Financial Planner, CPA, ASA, CDFA,  Actuary or Neutral Real Estate Appraiser in order to provide neutral valuations of various assets, such as a 401k, 403b, Qualified Plan, IRA, Pension, Business and Real Estate.

Located in the historic Linden Hills neighborhood of Minneapolis, Lake Harriet Law Office provides experienced and personalized legal representation exclusively in the area of Divorce and Family Law; we are a boutique Law Firm that dedicates our legal representation to one select area of Minnesota Law – and that is Family Law.

It is extremely important to hire a highly experienced and assertive Family attorney who can effectively advocate your position during the case and who understands every phase of the Family Law legal process, including various Alternative Dispute Resolution (ADR) processes such as Family Mediation and Early Neutral Evaluation (FENE and SENE).  Most Divorce cases are resolved at some point after the Initial Case Management Conference (ICMC).

Lake Harriet Law Office represents clients in Minneapolis, Edina, Bloomington, Golden Valley, Hopkins, Eden Prairie, Southwest Minneapolis, Kenwood, Linden Hills, Plymouth, Hennepin County, Ramsey County, St. Paul, Anoka County, Wright County and Scott County.

Please call 612-750-4843 or complete the Contact Us form to schedule an office consultation.

Published On: April 10, 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!

Call 612-750-4843