Divorce often involves difficult decisions about finances, property, and long-term security. One of the most important legal concepts in any Minnesota divorce is equitable distribution, which governs how marital property is divided between spouses. Many people...
When couples divorce in Minnesota, dividing property is rarely as simple as splitting bank accounts or selling a home. Retirement assets, 401(k)s, pensions, and other employer-sponsored plans, are often among the largest and most valuable assets in the marriage. Yet,...
Individuals navigating a divorce are often faced with the complex task of dividing both assets and liabilities. Many clients begin by asking: How Is Debt Divided in Divorce? What does Dividing Debt in Divorce look like in practice? And how should a comprehensive...
When going through a divorce, one of the most important—and often most complex—steps is determining how to value and divide marital property. Whether the dispute involves real estate, retirement accounts, or personal property, understanding how assets and debts are...
When going through a divorce in Minnesota, one of the most common concerns is how to protect assets acquired before the marriage—especially a home. Whether you purchased the property independently or received it as a gift from a parent or relative, it may qualify as...
Highlights: · Minnesota law requires a just and equitable division of marital property in divorce—not always an equal split, but often close. · A divorce balance sheet itemizes all assets and debts and assigns values to each spouse. · The sheet calculates an...
High asset divorces can be intricate and challenging, but with skilled legal representation, the journey can become significantly more manageable. At Lommen Abdo, P.A., our dedicated team has been assisting Minnesota families through the complexities of high net worth...
Divorce can be a challenging process, particularly when it comes to the division of assets. One of the most significant hurdles is the potential for hidden or non-disclosed assets. It’s crucial for both parties to fully disclose their financial situations; otherwise,...
Late last year, Congress and the President enacted sweeping new tax legislation that fundamentally affects the family both during marriage and following divorce. The Tax Cuts & Jobs Act (“TCJA”) made four key changes of which you should be immediately aware....
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