Even if your divorce is amicable, there are so many adjustments that you have to make to your life. For example, how will you and your partner divide your assets? Every marriage is different, and discussing property division can get complicated quickly. At Martine Law, our family law team has decades of experience simplifying property division while advocating for our client’s rights.
Our Minneapolis Property Division Services
Property division is the process of dividing your and your spouse’s assets during a divorce.
Typically, this process involves appraising your marital estate and calculating debt to determine who gets what.
Minnesota is an equitable distribution state, meaning courts will divide assets equally. However, this does not necessarily mean that the division is equal. For example, the court may decide to give the house to one spouse, while the other spouse may receive separate property as compensation.
Property Division in Minnesota Law
According to Minnesota law:
“the court shall make a just and equitable division of marital property.”
Since Minnesota is a no-fault divorce state, this statute also declares that the courts will divide the marital property without regarding relationship misconduct. It is also important to realize that you and your spouse can agree on property division outside of court. Divorce law and property division regulations can be complex. Working with a property division attorney can help ensure a desirable outcome in your divorce case.
Without an attorney by your side, marital property division will be the court’s responsibility. You may lose assets like your house, other physical property, or funds. Even in an equitable division state, dividing assets could still create issues.
Another complex issue of property division is determining who will be responsible for certain debts. Without a lawyer advocating for your best interests, you may have more debt to pay off than what’s fair.
A property division lawyer will ensure you receive what’s rightfully yours from the net marital estate. You won’t have to settle for less than what you deserve when working with a family law attorney.
What Our Clients Say
“Mr. Martine did an excellent job with my divorce and was able to negotiate the financials in a fair and diplomatic manner. I am so grateful to have met an attorney who didn't waste time and dollars. He was direct and effective at wrapping things up quickly. I would highly recommend him.”
Anonymous
“The Martine Law team was absolutely amazing, companionate & caring with my divorce. I didn’t feel like I was alone and always had support from someone who knew the system. I am looking forward to being a happy father spending quality time with my daughters, and I plan to share my happiest moments with them. Attorney Rhiley O’Rourke gave me hope, and if you’re a father who loves his children, she has my full and complete recommendation.”
Matthew S.
“After I hired Xavier, the amount of stress and doubt I had been carrying was immediately gone. Right from the start, the way he gathered the information from my ongoing custody case and finding out what my goals were was incredibly prompt. The way he went about my case and battled for me to get what I wanted was awesome. He fought for me and worked with me to finally get time with my son and things are going well now with my custody situation and we are starting to go from super contested to viable co-parenting now.”
Mark D.
Our Minneapolis Assault Case Process
STEP ONE:
Call (612) 979-1305 to speak to an Intake Specialist. We’re available 24/7.
STEP TWO:
We’ll discuss your situation and desired outcomes, and determine if we can help.
STEP THREE:
If we’re a good fit, we’ll fight to get you the best results possible!
Frequently Asked Questions
How is property divided in a Minnesota divorce?
In Minnesota, property division during a divorce follows the principle of “equitable distribution.” This means that marital property is divided fairly, though not necessarily equally. Factors considered include the length of the marriage, each spouse’s economic circumstances, contributions to the marital estate (including homemaking), and future needs. Non-marital property (property acquired before the marriage or through inheritance or gift) is typically not divided.
What if I have a “high-net-worth” divorce?
We can help. Our attorneys have experience dealing with complex asset divisions. We are dedicated to protecting your rights every step of the way and ensuring a fair outcome. With our extensive knowledge of family law and negotiation skills, we strive to achieve a resolution that aligns with your best interests.
What is considered marital property in Minnesota?
Marital property in Minnesota includes assets and debts acquired by either spouse during the marriage, regardless of whose name is on the title. This can include the family home, bank accounts, retirement accounts, investments, vehicles, and personal property. Exceptions to this rule include non-marital property, which consists of assets acquired by one spouse before the marriage, or assets received as gifts or inheritances specifically designated to one spouse.
How are retirement accounts divided in a Minnesota divorce?
Retirement accounts are considered marital property and are subject to equitable division in a Minnesota divorce. This includes pensions, 401(k) plans, IRAs, and other retirement savings accumulated during the marriage. The division of these accounts typically requires a Qualified Domestic Relations Order (QDRO) to ensure that the distribution complies with federal and state laws and the terms of the retirement plan.
How can working with a Minnesota property division lawyer help with my divorce?
An experienced lawyer is a helpful resource since they have in-depth knowledge about divorce laws in Minnesota. Property division can be long and complicated, but an attorney will make this process simple and intuitive. They will also ensure that your assets are protected during this time. At Martine Law, we understand how emotionally taxing a divorce can be. Our property division attorneys are here to guide and support you through this process. We’ll stand by your side to ensure you receive a favorable case outcome.
Areas Served
- St. Paul
- Minnetonka
- Bloomington
- St. Louis Park
- Brooklyn Park
- Maplewood
- Plymouth
- Richfield
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- Roseville
- Blaine
- Inver Grove Heights
- Maple Grove
- Brooklyn Center
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- Mankato
- Chaska
- Isanti
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- Rochester
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- Buffalo
- Champlin (Incl. Hassan Township)
- New Brighton
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- Owatonna
Contact our Minneapolis Property Division Lawyers Today
Our top priority is helping our clients get through the details of their divorce with as little difficulty as possible. If you have property division concerns, contact our team today to find your Minneapolis property division lawyer.
