Whether good or bad, major life events have the ability to turn an individual's life completely upside down. Some events, such as health emergencies, may come completely out of the blue. Other situations, such as divorce and issues related to dissolving a marriage can be anticipated at times. The better educated you are about the dissolution process, the better you will be able to navigate with a level head what can be troubled waters.
It has been widely claimed for a number of years that January is the busy season for attorneys who practice family law. The theory is that the holidays are the peak season for relationship breakups and that with the coming of each new year couples start the ball rolling on formalizing their dissolution decisions.
We haven't written for some time about collaborative law, or as it is also known, alternative dispute resolution. Let's use today's post to remedy that situation.
Parents can follow this basic information pertaining to child custody in Minnesota. This information is for parents who are divorced or those who only have a child together. There are two issues when it comes to custody of a child. Legal custody and physical custody are the two types in the state. Legal is when the parent has the right to make decisions for the wellbeing of the child or any legal decisions. Physical custody is when the child lives with the parent all of the time or shares time spent between both parents.
When a Minnesota couple chooses to part ways and get a divorce, there are numerous issues that must be navigated. If it is a divorce with significant assets and hefty financial holdings, it's likely that the disputes will be more intense as to which side will receive what once the divorce is completed. With family-owned businesses, business assets and a complex asset division, it's inevitable that the sides will try to find ways to keep as much as they possibly can.
Marriage is more than an agreement between two people to pronounce their love and share their lives. It is also a legal partnership that comes with certain responsibilities and rights. This is why more people in Minnesota and around the country are requesting prenuptial agreements in order to safeguard their separate property in the event of a subsequent divorce. Various age groups also have differing views on these legally binding contracts.
In Stillwater, when a couple chooses to end their marriage and file for divorce, there are numerous factors as to how the estate will be divided. This is made even more complicated when there are substantial financial holdings that are likely to be in dispute. This is especially frequent with people who are public figures or who have a job that has accumulated large business assets.
In Minnesota, as is the case in many other states, there are two kinds of child custody, physical and legal. A parent who is granted physical custody has the right to make decisions regarding where the child lives and his or her day-to-day activities. A parent who is given legal custody has the right to make decisions regarding a child's religious instruction, health care and education.
People in Stillwater, Minnesota who are ending their marriage have enough on their minds without having to worry about a spouse attempting to hide assets that they don't want to be part of the settlement. When there is a divorce, some couples are able to come to an agreement regarding the assets and do so in an amicable manner. If, however, there are business assets, a complex asset division, significant financial holdings and real property, there is more of a chance for disputes and attempts at sleight-of-hand.
For couples in Minnesota who have significant assets, the process of divorce can be exponentially more difficult than that of a couple with limited assets. In many instances, there are substantial business assets that will be difficult to separate as the process moves forward. Each side might claim to warrant a larger piece of the financial holdings than is agreeable to either. With family-owned businesses with each side laying claim to its growth, the issues can get disagreeable and difficult.