Alimony is not uncommon in divorces where there are significant disparities in income. Courts award alimony, also referred to as spousal maintenance, to limit the economic hardship to the lower-wage earning spouse. To decide on the amount of alimony, the court often considers a number of factors. The court also has broad discretion when awarding alimony. Minnesota couples considering divorce might find the following piece on spousal maintenance helpful.
Understanding blame and the no-fault divorce
Whenever infidelity is at the center of a divorce, people want to know if it will affect the outcome of the case. This is particularly true in cases involving a high asset divorce. The answer to the question, however, is complicated. The first question is whether the state's divorce laws are no-fault or fault-based. Today, most states are like Minnesota and are no-fault states. The following is a brief discussion of no-fault divorce laws in Minnesota
Is it possible to run the family business with your ex-spouse?
No one can deny that running a business is difficult. It can be significantly more difficult, however, if your business partner is your ex-spouse. Nevertheless, couples with family owned businesses divorce every day. While it's generally known that professional affairs can become complicated when mixed with family issues, , sometimes there may not be a way around it. The following is a look at divorce and the family business, and some tips for Minnesotans facing this divorce related issue.
Famous actress losses battle to move child overseas
Issues involving children are among the most difficult in family law. Child custody can include everything from parenting time and visitation rights, to international abduction matters. Each of these issues has its own complications and each can comes with an emotional toll. The following is a scenario that arises when one parent wants to relocate. Minnesota couples might learn a thing or two from the following case.
Paving the road to an amicable divorce for Minnesotans
Divorce may include a wide variety of difficulties, but dividing assets is one aspect of divorce that presents obstacles doe many couples. However, it does not have to be that way. If one is equipped with the proper legal information and a calm head, then a relatively painless divorce may be possible. The following are a few tips to help Minnesota couples manage a smoother and divorce.
Even rock n' roll legends fall on hard times once in awhile
Divorce is never easy but wealth can make things more complicated. One way to avoid a complicated divorce is to sign a prenuptial. Prenuptial agreements allow couples with complex marital property, such as family-owned businesses, the ability to streamline their divorce proceedings. Unfortunately, many couples do not sign prenuptial agreements. Some Minnesota couples might find the following article on high-asset divorce motivational.
Dividing property at an older age may seriously affect retirement
We often think that once we reach a certain stage in life divorce becomes less likely. Strangely, however, this is not true. Indeed, more and more couples are beginning to divorce at a later age. While divorce is always complex, getting divorced at an older age carries a unique set of issues, particularly concerning property division and financial security. Minnesota couples considering a "gray divorce" might find the following article on divorce interesting.
Preparing for divorce while happily married
Minnesota Public Radio recently had finance expert Ruth Hayden on The Daily Circuit to discuss issues that matter to a lot of Minnesotans -- money and divorce. According to recent statistics, nearly one in 10 marriages end in divorce before the five-year mark and nearly one-quarter of marriages end in divorce before their tenth wedding anniversary. With such a high rate of divorce, couples with complex asset division, such as a family owned business, might benefit from some of Hayden's advice.
Family-owned business assets do not have to suffer in divorce
Once upon a time the divorce rate in the United States was minuscule. Even as the rate of divorce began to climb among urban dwellers, the divorce rate for farm couples remained low. Around 40 years ago, however, this began to change, and the divorce rate for farm couples began to increase. Today the rate for farmers is about the same as for non-farmers.
Preparing for divorce: Items to consider before proceedings begin
High-asset divorces can come with a whole host of complications, not the least of which is the property division process. Dividing property, especially items such as retirement accounts and investment portfolios, requires skill and patience. The consequences between property division done right and done with haste may prove to be very costly, in more ways than one. Minnesota high-asset couples considering divorce should think about a few of the following issues before engaging in the divorce process.
