Top Question – Minnesota Divorce and Property Division
During a Minnesota Divorce case, parties frequently have issues regarding the division (and proper valuation) of assets. Minnesota law requires an “equitable division” of assets (and the same applies to debts). The division is quite often something other than 50:50; there is no requirement that the division be precisely equal. Many times, the parties agree to divide the assets and debts on the balance sheet equally.
Financial Acumen and Divorce
When choosing a Divorce lawyer, you should inquire about their expertise and financial acumen, as well as their understanding of advanced financial issues such as present value calculations of property and assets. In certain Divorce cases, it will be necessary to work with a CPA, Actuary or Neutral Real Estate Appraiser in order to provide neutral valuations of various assets, such as a 401k, 403b, ESOP, IRA, Brokerage Accounts, Pension, Businesses or Real Estate.
Use of Financial Experts During Divorce
In some cases, the parties choose to hire their own financial experts to perform financial calculations, projections and analysis based on the individual facts of the case. This is quite common in cases regarding spousal maintenance (alimony) and the need for expert vocational assessments.
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.
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, Scott County and Wright County.
Please call 612-750-4843 or complete the Contact Us form to schedule an office consultation.
Attorney Randall A. Smith 612-750-4843
Attorney Amber C. Bretl 612-223-8925