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Divorce can have a profound impact on various facets of your life, particularly your financial circumstances. Once your marriage ends, you will no longer have two incomes to rely on and you will find yourself solely responsible for your financial fut…
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Owning property in multiple states is more common than you might think. Many people who have a primary residence in Minnesota have an interest in real estate elsewhere. That might be a rental property, a shared family cabin, a “snowbird” condo in…
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Divorce closes one chapter in your life and opens another. In order to move forward, you need a financial foundation. That foundation comes, in part, from your share of the marital assets. Minnesota is an equitable distribution state, in which marita…
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There is an old joke that goes, “How much does a good divorce lawyer cost?” The answer: “Far less than a bad one.” The joke is funny because it’s true, but it’s true on more levels than most people realize. The implication of the joke is…
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There are two ways to get a divorce in Minnesota: reach a settlement agreement sometimes called a Marital Termination Agreement at some point in the divorce process, or go to trial. Many people enter the divorce process in a state of heightened emoti…
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It’s not surprising that people fight over their children in divorce. And it’s not surprising that they fight over big assets, like the house or retirement funds. (It’s not good, but it’s not surprising). But it IS surprising how often people…
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These days, 70% of college graduates leave their years of higher education with not just a degree, but with student loan debt. The average student loan debt held by someone who borrowed for college is $37,132—that’s not small change. It often tak…
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We’ve been known to tell people in the past that getting a divorce is kind of like cutting your hair: sure, you CAN do it without the help of a professional—but you might not like the results. And with a divorce, you’ll have to live with the re…
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Divorce obviously changes a lot of things in your life, but it’s not until the April following your divorce that you might realize one of them: divorce affects your income tax. Whether you’re in the process of negotiating your divorce settlement…
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For many Minnesota couples, retirement accounts such as pensions and 401(k)s figure prominently in the divorce settlement. To the extent that money in these accounts accumulated during the marriage, it is marital property subject to division in divor…
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For almost everyone, divorce is a time of financial stress and uncertainty. You may be worried about needing to pay child support or spousal maintenance (or whether you will receive adequate support if you need it). Whether paying or receiving suppor…
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Financial issues are a big part of divorce: how you will divide marital assets; whether you will pay or receive spousal maintenance (and how much); how much child support there will be. With all of these immediate financial concerns, Social Security…
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Of all the property that must be divided in a Minnesota divorce, retirement accounts are among the most challenging to split up. Often the asset is partly marital and partly non-marital, which poses its own challenges. The real issue is that pensions…
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Divorce can be difficult on so many levels—not having your kids around all the time; the financial struggles; possibly having to move out of your home; and the loss of the dream of what marriage was supposed to be. At least you can take comfort in…
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In any Minnesota divorce, the couple must agree to a division of marital property, or the court must decide how to divide that property. One thing many people are not clear on, however, is the distinction between marital property and non-marital prop…
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