How Property Is Divided In Divorce
If you are considering filing for divorce in Minnesota and have questions about how your marital property will be divided, courts use a very simple formula: Every asset and debt you and your spouse accumulated as a married couple during your marriage is subject to valuation, and may be classified as marital property for equitable distribution. But that does not necessarily mean dividing everything right down the middle. The parties may negotiate what they consider to be an equitable property settlement.
What Is Nonmarital Property?
Some property already owned by a spouse may be classified as separate or nonmarital property, and will not be subject to equitable distribution. Frequently, nonmarital property may include investments and financial assets that are maintained separately and not commingled with marital savings or investments. Money inherited during the course of the marriage may also be considered separate assets of the inheriting spouse, as long as the assets were not commingled for investment purposes.
An Experienced Minnesota Divorce Property Division Lawyer
As a family law attorney for more than 26 years, I have seen many divorcing couples find themselves in needless emotional battles over their property settlements. Surprisingly, some spouses care more about getting custody of the furniture than they do about custody of their children.
As your lawyer, I consider it my responsibility to make sure you see your way clearly through the property settlement component of your divorce. This means keeping you informed about your options and how your decisions about property today may have an impact on your taxes and debt obligations in the future.
In short, I believe in working toward an aggressive property settlement through negotiations as early as possible in the proceedings. Resolving a case through negotiation allows you to divide your property with a scalpel, whereas the court may resolve it with a meat cleaver.
This presumes, of course, that you are able and willing to negotiate in good faith, make full disclosure about your assets and debts, and truly recognize that the courts will accept nothing less than an agreement that protects the rights of both sides.
Why Not Fight In Court?
It has been accurately said that, “You don’t go to court to get justice. You go to court to get a decision.” Taking your case to trial means you will be putting key decisions into the hands of a judge who will not have to live with the impact of the judgment after the case is closed. Resolving issues via negotiated agreement allows you to have input and participate in the decisions that will affect you and your family.
But Sometimes Court Becomes Necessary
But as my trial and appeals records demonstrate, I do not believe in simply rolling over and handing everything to the opposing attorney. There are disputes about complex property that often can’t be resolved through mediation. My record of success proves that I am very comfortable and dynamic in the courtroom. A winning result can only be obtained by a clean, neat and cogent presentation of the evidence.
If I Sound Like The Right Lawyer To Guide You Through Your Divorce, Call Me
Call my office Lees Family Law, Ltd., at 952-225-5857 or send an email to schedule an opportunity to sit down together to answer your questions and discuss your concerns about your divorce property settlement.
My office hours are generally from 9 a.m. to 4 p.m. Evening and weekend appointments may be made by special arrangement. There is free parking near my office on West 78th Street, Suite 415 in Edina.
I can make arrangements to meet at a convenient location near you.