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Posts tagged "Property Division"

Dividing retirement accounts in divorce asset split can be tricky

Whenever a married couple decides to divorce, they must come to an agreement on how they intend to divide their assets. Common assets available for division include the family home, investment accounts, debts and even household items. The most difficult items to divide are often less tangible assets like life insurance and retirement accounts. Minnesota readers may find the following blog on property division and retirement accounts intersting.

Prenuptial agreements vital in high asset divorce

Divorce is rarely quick and easy, especially for high asset couples. One example of this is the Demi Moore and Ashton Kutcher divorce. As many Minnesota residents may recall the high profile couple announced their split more than a year ago. So why is it taking so long?

Factors to consider in property division with the family home

Many Minnesotans know that dividing property during a divorce proceeding can be a highly emotional and complex task. Before deciding who gets what, there are a number of important questions that should be addressed. These include determining the exact value of the estate, the tax consequences associated with retaining the assets and the long-term effects of owning the property. Property division can get even more complicated when dealing with the family home, which may hold more than monetary value.

Lack of prenuptial agreement results in huge loss to Buzz

A prenuptial agreement is important for those looking to protect property interests following marriage. In some cases, failing to draft a prenuptial agreement can result in painful losses. Think McCartney! The following is another example of bad planning by a high-profile couple with complex asset division issues, including a family-owned business, and the painful effect of not entering into a prenuptial agreement. Minnesota couples should consider this a warning.

What can and cannot be included in a prenuptial agreement?

Before exchanging vows, Minnesota couples may weigh the benefits of obtaining a prenuptial agreement. The primary reason to have a prenuptial agreement, according to family law observers, is that it allows the couple lay out their property division and financial future in the event that they decide to get divorced down the road.

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.

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: 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.

How to characterize payments in a high asset divorce

Family law attorneys provide a number of legal services, not the least of which are financial. Due to the nature of the disputes family law attorneys deal with on a day-to-day basis, most family law attorneys are actually quite knowledgeable about financial matters. In matters involving complex asset division this knowledge is essential. Minnesota couples, particularly those with family-owned businesses, might find the following information helpful.

Minnesota courts aim to reduce conflict in child custody disputes

Litigation is adversarial. It is frequently the nature of the process. In most instances the litigation process serves our interests, allowing truth to emerge at the conclusion of legal hearings. In family law, however, when child custody is at issue, many believe that the cost of battle may simply be too high to allow a dispute to be litigated in court.