MINNESOTA DIVORCE LAWYERS AND ATTORNEYS Our attorneys understand the emotional and financial effect divorce proceedings will have on you and your family. Every effort is made to resolve your case efficiently and without court involvement when possible. When settlement is not possible, our attorneys are willing to take disputed cases to trial.
Minnesota, a “No-Fault” divorce state, requires only a finding that there has been an “irretrievable breakdown in the marriage” with no finding of wrongdoing by either party. Once this threshold is met, the Court seeks to make an “equitable division” of marital property and, when children are involved, determine a custodial arrangement that is in the “best interests of the child.”
Marital property subject to division consists of property acquired during the marriage, with some exceptions. Property acquired prior to the marriage or from an outside source during the marriage, such as a gift or inheritance, may be considered to be “non-marital” and therefore protected from the property division. The party asserting a non-marital interest in property bears the responsibility of tracing the claimed asset to a non-marital source. Complications arise when that asset has been co-mingled with marital property to an extent that the non-marital interest may be extinguished. Therefore, whether you are defending or asserting a non-marital claim, it is important to contact our attorneys for advice to determine and protect your rights.
Similarly, debt acquired during the marriage is considered marital and debt brought into the marriage is non-marital and generally assigned to the party who incurred the debt. Like non-marital property, allocation of non-marital debt can be confusing when debt is co-mingled or paid off with marital resources. Furthermore, when debt is incurred during the marriage without the knowledge or consent of the other party, you will need legal guidance to assist you in obtaining a fair allocation of that debt.
Generally speaking, marital debt and marital assets are to be “equitably divided.” This is often confused as a 50/50 allocation or division. While this is usually the goal, it is not always the case. Our attorneys can help you in reaching a fair settlement. |
