How Property Division Works In Minnesota
Minnesota is an equitable division state. This means that the splitting of the marital assets must be fair — but fair does not always mean equal. Equitable division looks at factors including, but not limited to the length of the marriage, the age and health of the people involved, their respective earning capacity, and the contribution of each person during the marriage.
Marital assets generally refer to property or wealth that was accumulated during the course of a marriage. Nonmarital assets are property or wealth that existed before the marriage or gifts and inheritances that may have been received during the course of the marriage. Accurately identifying marital and nonmarital property is critical to an equitable distribution of property.
We Can Address Your Property Division Concerns
It is very common for people to have fears and concerns about protecting their assets in a divorce. We will take the time to address your concerns and devise a strategy for resolving them.
A common concern is hidden finances. It is not uncommon for one spouse to have managed the finances throughout the course of the marriage. When the marriage comes to an end, the other spouse is often in the dark about what assets are involved. In other instances, what appears on bank and financial statements does not always match up with a lifestyle. If hidden assets are an issue, Heidi Viesturs will do her best to find them.
Others are often worried about how to handle the financial realities of managing a household after divorce. Heidi will talk to you about your situation and what strategies and resources you will need.
Talk To Us About Helping You With Your Property Division
Do you want to learn more about how your property division might look in divorce? Get answers. Call our Minnetonka law office to speak to lawyer Heidi Viesturs at 612-285-3756 or send us an email to tell us about your situation.