Property Division in a Minnesota Divorce
When a divorce, annulment, or other legal proceeding is filed, the filing party must ask the court to make a decision on the division of jointly held property in Minnesota.
If the court is asked to divide marital property, the court must make a fair division and the court is forbidden by law from considering such things as marital infidelity or other marital misconduct.
Factors for deciding property division
Once the court has heard evidence, it must make a “finding” in regard to the division of property. To reach a “finding”, a judge will base his or her opinion on many factors, including:
- the length of the marriage,
- if there are prior marriages of the parties;
- the age and health of the parties,
- the occupations, income levels, skills, and other financial reasons;
- other factors.
You should also be aware that the court must take into account what each party brought into the marriage and whether the husband or wife are purposefully destroying or hiding money.
Achieving a fair and equitable division of marital property is something a qualified attorney will help you with. Failing to speak with an Minnesota divorce attorney about the division of property may result in a substantial loss of property or, possibly, an uneven award by a court.
Free Initial Consultations
Contact the Flanders Law Firm today. The firm offers free consultations to all potential clients. Call (612) 424-0398.