Helping You With All Aspects Of Property Division In Divorce
As part of the divorce process, all marital property and assets are valued and divided between the parties. In order to ensure that you get the proper distribution of property and assets, it is in your best interests to have an attorney on your side. Your lawyer can then advocate on your behalf.
Your rights are protected when enlisting Radtke Law Offices, P.A., to represent you in the property division process as well as your divorce as a whole. We understand the emotions that accompany these types of cases and work to see that the impact on your life is as minimal as possible. Under the guidance of highly skilled attorney Stephen P. Radtke, we use more than 20 years of experience when handling family law cases for clients in Roseville, Blaine, Anoka County and throughout the Twin Cities.
How Is Property Divided?
Minnesota is not a community property state, which means that property is not divided in a sheer 50-50 manner. Property is divided according to the law of equitable distribution. This means that the judge in the case will determine the fair way in which to split the marital property and assets. This may mean that one party gets more than the other. Your lawyer can argue for certain pieces of property or parts of the assets on your behalf and explain why the judge decided as they did.
What Is Subject To Division?
Anything that was acquired throughout the course of the marriage or was supported by marital assets can be considered for division. This can include:
- Homes (primary residences)
- Vacation homes and rental properties
- Personal property (such as cars, jewelry, art and more)
- Family-owned or closely held businesses
- Employee benefits (such as stock options or bonuses)
- Retirement accounts, 401(k)s, IRAs and Roth IRAs
- Other investment accounts
- Offshore accounts and foreign investments
In addition, it is important to note that marital debts are also divided as part of the divorce. The intention is to not stick one spouse with the majority of the debt accumulated during the course of the marriage. As property is divided equitably and fairly, so are debts.