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When preparing for a divorce in Minnesota, understanding your financial situation is among the first and most important steps you need to take. Having a comprehensive picture of your finances will help you make informed decisions and potentially lead to a fairer...
Divorce presents challenges, especially with dividing assets. Equitable distribution in Minnesota means dividing assets fairly, though not equally. Why is proper valuation important during property division? Because accurate asset valuation ensures a fair settlement....
Goodwill is a business's value beyond its physical assets and liabilities, including reputation, customer loyalty, and brand recognition. It can be an important factor when the court evaluates a business as part of a marital estate. The difference between personal and...
Building a good credit score can take years. When going through a divorce, you want to ensure that all your hard work and diligence don’t go down the drain. Whether or not your ex-spouse acts in bad faith, their actions can significantly affect your credit. Luckily,...
As Minnesota is an equitable distribution state, many individuals facing divorce worry what this means for their property. The concept of equitable distribution allows for assets and debts to be thoroughly examined and divided in a fair way – not necessarily a 50/50...
For many, the prospect of enduring drawn-out court proceedings for divorce is neither feasible nor desirable, given the financial and emotional toll it involves. As such, more couples opt to settle their differences in a manner that is not only cost-effective but also...
In Minnesota, the division of assets during a divorce follows the rules on equitable distribution. This means that the court will attempt to divide the marital property and debts in a way that is fair and equitable, though not necessarily equal. Shared memberships,...
In a Minnesota divorce proceeding, each party must fully disclose all assets and debts. With some exceptions, marital property consists of any assets acquired during marriage. State law requires an equitable property division in divorce, but equitable does not...
Filing a petition to end a marriage in Minnesota triggers a series of events that, at some point, must include negotiating a settlement. If you have children, their needs and best interests will undoubtedly be a central focus of the proceedings, as they should be....
If a Minnesota household includes a beloved pet, such as a dog or cat, those who live there no doubt consider it a member of the family. In fact, some years back, most participants in a survey said they wouldn’t even trade their pets for $1 million. Should spouses...
