Many of society's views and perceptions of marriage and divorce belong to a world that no longer exists. For one thing, many of the stereotypical gender roles we associate with men and women are no longer applicable. One example is the pending divorce of reality television star Bethenny Frankel. Minnesota couples considering divorce, especially those with female breadwinners, might find the divorce of this high-profile couple to be interesting.
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.
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.
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.
What are considerations to make in a high asset divorce?
Financial security is a big issue for couples facing divorce. With all of life's uncertainties, the effect divorce can have on certain property or assets, such as a family-owned business or a lake home, only adds to these potential obstacles. Fortunately, there are ways to thoughtfully work through a high asset divorce by protecting an individual's assets in order to establish a more comfortable financial future for both parties involved.
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.
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.
Protecting retirement assets in a divorce
For Minnesota couples going through divorce the reasons for hiring a good attorney are virtually limitless. In addition to the benefit of having someone in the room that is knowledgeable about the process, when complex asset division is involved an attorney can mean the difference between a share in a family-owned business or even a decent retirement. The impact can actually be particularly profound on women going through a divorce.
Minnesota couples discover new tool to protect assets in divorce
Everyone has likely heard of a prenuptial agreement. For couples with complex financial holdings, such as a family-owned business, a prenuptial agreement is an important tool to protect pre-marital assets, like financial holdings and property interests, in case of a divorce. In addition to the prenuptial agreements, more and more couples are beginning to sign a new legal document known as a postnuptial agreement.
