One of the most challenging and dramatic aspects of divorce is the final act of dividing marital assets and determining spousal support. Minnesota law requires judges to make a just and equitable division of the marital property. Since Minnesota is a no-fault divorce state, it does not matter who is responsible for the dissolution of the marriage. The judge still must divide the marital property fairly, although this distribution is not always equal.
Equitable Asset Division And Spousal Support
Olson Law LLC knows how to protect your assets and have maximum control over how they are divided, before you sign a marital termination agreement. You want to be assured that the equity built during your marriage is treated as a full partnership.
Two kinds of property are considered during asset division: marital and nonmarital. Marital property includes everything you and your spouse bought or were given during your marriage, from homes, cars, pension plan benefits or stocks, to dishes and furniture. Even financial debt is included.
Nonmarital property is property acquired before the marriage or property acquired as a gift or inheritance made by a third party to one spouse but not the other. Our team will help you with a process to appraise, identify, photograph and trace individual ownership to show proof of legal possession.
Get The Best Settlement For You
When deciding an equitable settlement, the court will base its findings, among other things, on length of the marriage, age, health, occupation, vocational skills, sources of income, needs and liabilities of each party. Protect yourself in the marital termination agreement with the counsel and guidance of Olson Law LLC. We can help you prepare for an equal distribution settlement that the court will deem as fair.
Life is complicated. When you’re faced with a family crisis requiring legal care, you want a compassionate yet diligent attorney who can be a fierce advocate for your case. Our team empowers our clients to evaluate options and protect their rights. With a responsive, intelligent approach, we guide you through the difficulties ahead to minimize their impact on your life. Our knowledge and insight offer resources that specifically support the needs of couples struggling with divorce, child custody, parenting and the many challenges related to family law.