Life would be so much easier if we all spoke the same language wouldn't it? But even a common language can't always guarantee that things will go smoothly. Legal terminology is one of those areas where variations can exist. Inconsistencies are not unheard of between courts in Minnesota. And where they exist, it can result in a lot of headaches.
Advice for divorcing spouses: Beware of hidden assets
People hiding assets tend to leave behind clues of their financial misconduct
If you're thinking of divorce in the new year, you're not alone
It has been widely claimed for a number of years that January is the busy season for attorneys who practice family law. The theory is that the holidays are the peak season for relationship breakups and that with the coming of each new year couples start the ball rolling on formalizing their dissolution decisions.
How do real estate property divisions work in Minnesota divorces?
In Minnesota, a divorce can have wide-ranging ramifications for the lives of the participants. One of the most common issues that arise as the marital estate is divided is property division. Because real estate can be so lucrative, it's likely that both parties will want to control it. Many issues such as who owns the property, who should get the property and whether it can be sold are likely to arise. There are certain factors that must be understood before beginning the process.
Factors used in Minnesota property division rulings
One issue that needs to be solved in a divorce proceeding is how to divide property. The first step in the process is to determine what is marital property. This is important because only marital property can be divided during a divorce settlement. Once an inventory of marital property is taken, a monetary value will be placed on that property. It will then be divided in an equitable manner.
Is property owned pre-marriage subject to equal division?
Couples who divorce in Minnesota frequently have many issues they're concerned about as the case moves forward. One of the issues that garners a great deal of attention is property division and who gets what in the settlement. If one spouse owned a property prior to the marriage, the fear of that property being subject to equal division is something that can cause great consternation. This is something that crops up with older couples as well as younger couples.
Making sense of property division and asset issues in a divorce
For Minnesota couples who are preparing to divorce and have concerns about how the property division and other financial issues will be decided, it's important to gather relevant facts to avoid any complications. It's a major life decision to divorce, and one of the factors that leads to long disputes is the divorce asset split. Couples who prepare themselves for life after a divorce are likely to have an easier time getting their lives back in order than those who give no thought to finances until it is too late.
Divorce asset split a common factor in older couples' divorces
When people of any age choose to part ways and divorce in Stillwater, Minnesota there are many factors that go into moving forward. Along with getting past the emotional upheaval that comes with a divorce, there are certain issues like what happens to the children and whom is going to live where that have to be dealt with. In addition, property valuation, equal division, divorce asset split and property division all must be hashed out.
Elliot Spitzer to pay large sum in divorce
After dealing with the initial shock that comes with filing for divorce, it is often necessary to begin focusing on some of the logistical demands. Child support, custody arrangements and alimony are among the important legal matters that couples must settle. And then there is property division. Property division can be one of the most intimidating and frightening components of divorce. After all, a person getting a divorce could lose a significant portion of his or her wealth in the divorce asset split. However, many of these nightmarish scenarios can potentially be avoided.
Education is essential preparation for a divorce asset split
One of the most difficult divorce related legal matters that couples must address in a divorce proceeding is money. From child support and alimony to property division or a small family business, money matters are often the most contentious family law legal disputes, and that is one reason it is so important for people to educate themselves. Minnesota readers may have seen a recent article about divorce and preparing for the inevitable divorce asset split.
