By aphlaw | Published December 5, 2019 | | |
Financial stress is one of the biggest risk factors associated with divorce. People who have major issues with debt or low income are much more likely to get divorced than people who do not have these same financial stressors present in their relationship. Therefore, it is important to frequently communicate about finances with your spouse Read MoreRead More
While divorces have, according to national statistics, been on the decline for the last decade or so, there are still a large percentage of marriages that end in divorce. Marriage counselors, divorce attorneys and sociologists have studied divorcing couples for years and are generally able to point to a certain set of “risk factors” that Read MoreRead More
The more contentious a divorce is, the more likely it is to become drawn out and expensive. It stands to reason, then, that you can save quite a bit of money by simply being cordial with your spouse. Of course, this is much more easily said than done in some circumstances. But consider the amount Read MoreRead More
As you go through the process of dividing your marital assets during your divorce, you will need to also consider the value of any business assets you own. If you’re the owner of a small business, you might not have previously tried to come to an accurate estimates of its market value, so the process Read MoreRead More
During the course of your divorce, you may be required to disclose some medical information if it is relevant to your case. The mental and physical condition of a parent could become relevant in child custody proceedings, for example. Frequent hospitalizations or major healthcare needs might also impact spousal maintenance arrangements or the asset and Read MoreRead More
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 Read MoreRead More
Postnuptial agreements are legally binding contracts established by couples after their marriage begins. Couples will typically implement a postnuptial agreement after certain major life changes occur. What those agreements contain can vary widely based on the couple, including some estate planning elements and, much like an antenuptial (prenuptial) agreement, some agreements over what would happen Read MoreRead More
Prenuptial agreements (called antenuptial agreements in Minnesota) are useful tools for setting some general “ground rules” of a marriage and agreeing beforehand on how assets and liabilities would be distributed in the event of divorce. However, there are some circumstances in which one person might challenge the validity of the agreement during a divorce. This Read MoreRead More
Once your divorce is finalized, there will be a lot of changes you need to make in your life to accommodate your new situation. Any time you have a major change in your life, it’s a good time to revisit your estate plan, and a divorce is no exception. Most divorces provide for the fact Read MoreRead More
If you’re a business owner going through a divorce, it’s critical you do everything you can to protect your business interests. Your livelihood moving forward depends on it. Here are just a few strategies you can employ to accomplish this. Contracts: You can develop either a prenuptial (referred to as antenuptial agreements in Minnesota) or Read MoreRead More
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