In Minnesota, a divorce can have wide-ranging ramifications for the lives of the participants. One of the most common issues that arise as the marital estate is divided is property division. Because real estate can be so lucrative, it's likely that both parties will want to control it. Many issues such as who owns the property, who should get the property and whether it can be sold are likely to arise. There are certain factors that must be understood before beginning the process.
Is property owned pre-marriage subject to equal division?
Couples who divorce in Minnesota frequently have many issues they're concerned about as the case moves forward. One of the issues that garners a great deal of attention is property division and who gets what in the settlement. If one spouse owned a property prior to the marriage, the fear of that property being subject to equal division is something that can cause great consternation. This is something that crops up with older couples as well as younger couples.
Divorce asset split a common factor in older couples' divorces
When people of any age choose to part ways and divorce in Stillwater, Minnesota there are many factors that go into moving forward. Along with getting past the emotional upheaval that comes with a divorce, there are certain issues like what happens to the children and whom is going to live where that have to be dealt with. In addition, property valuation, equal division, divorce asset split and property division all must be hashed out.
Divorce may be up over the past 30 years MN researchers say
Some researchers are currently challenging the idea that the divorce rate has been declining over the past thirty years. A recent report from researchers at the University of Minnesota and the Minnesota Population Center reveals that the divorce rate may actually be increasing over the past thirty years. The researchers make the point that the data measures previously used to arrive at the divorce rate may have been problematic. In 2008, however, the U.S. Census Bureau added divorce related questions to its questionnaire which should provide more valuable data to researchers.
Geographical impact on marital asset property division
When a couple files for divorce, where they get divorced can have a significant impact on how the marital estate is divided. The reason for this is that different states have different rules concerning property division and these rules can have a sizeable effect on who gets what in a divorce. Minnesota couples facing the unfortunate task of managing a divorce asset split might find the following post on property division and divorce informative.
Retirement considerations in the property division process
Divorce can be a nerve-racking experience. For couples over the age of 50 one of the biggest concerns is whether dividing marital property will have a significant effect on their retirement. While divorce will likely have some financial impact, with a little planning it is possible to minimize the damage. Minnesota couples pondering divorce may find the following tips on planning for retirement during a divorce asset split helpful.
