Minnesota is an equitable division of property state, as well as a no-fault divorce state. This means that the fault for the breakdown of the marriage will not affect the property division, and the property is to be divided based on what is just and equitable — not necessarily exactly equal.
Some of the factors the courts will use to determine how to divide marital property include:
- The length of the marriage
- Each spouse’s income level and sources, occupation, age and health
- The vocational skill level and educational level of each spouse (and future earning capacity)
- The contribution of each spouse to the overall value of the marital property
- The contribution of a spouse with regard to homemaking
Couples are encouraged to try to reach settlements out of court on all issues of divorce, including property division, before they rely on a family court to settle the issues for them. This will result in fewer legal fees and generally will give each spouse a more satisfying result.
If you do go to court, however, you can expect the courts to take some time determining the value of the property before they begin dividing it up. In some cases, the services of a real estate agent, appraiser or certified public accountant may be necessary to come to an accurate valuation of specific pieces of property. This is one of the reasons why going to court for your divorce can become more expensive, as the use of an expert witness costs money and will be needed to evaluate your property.
If you are interested in learning more about the factors that go into property division in Minnesota during the divorce process, work with a knowledgeable family law attorney at Appelhof, Pfeifer & Hart.
