Property Division

Division of Property in a DivorceRequest a Legal Consultation with a Lawyer from Anderson Law

Dividing assets and debts in a martial divorce is part of every separation. The assets divided are known as the “marital estate” or “marital property” and needs to be thought through, particularly as to long-term financial consequences.  These assets are the ones that are brought into the marriage by each spouse, the assets accumulated or inherited during the marriage.

Unlike community states, Minnesota is an “equitable distribution” state.

This means that there is no fixed blueprint for division of property.  So dividing property in a divorce is based on certain factors that a court must consider, including the length of the marriage, the cause for the breakdown of the marriage, the age and health of the parties; income, occupation, assets and liabilities of each party; opportunity for each party to acquire assets and income in the future; and the contribution of each of the parties towards acquiring, preserving or increasing the value of the assets.

Minnesota makes a distinction between marital and non-marital property. Knowing the difference can have a great impact on the division of assets in a divorce proceeding. The parties should never assume property to be marital or non-marital based on a “hunch”.

Failure to understand the long-term implications of property division can make the difference between a secure retirement versus no retirement.

Our Divorce and Family Law Team in our Rochester, MN office handles many property disputes including:

  • Retirement Savings
  • Pensions
  • Real Estate Property
  • IRAs
  • Uncovering Hidden Assets
  • Defining Martial and Non Martial Property According to the State of Minnesota Law
  • Businesses and Private Interest in Corporations