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Property Division in Minnesota

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Minnesota Property Division Lawyers

Helping You Protect Your Assets and Secure Your Future

During a divorce, how marital assets and debts are divided can have a lasting impact on your financial well-being and future. Minnesota’s property division laws require an equitable—not necessarily equal—distribution of marital property. This approach means the court strives to create a fair arrangement based on each spouse’s situation and needs, rather than a simple 50/50 split. At Johnson/Turner, our team understands the importance of protecting your assets and ensuring a fair outcome, and we’re here to guide you through each step with expert support.

How Does Property Division Work in Minnesota?

Minnesota is an equitable distribution state, which means that all assets and debts acquired during your marriage are considered “marital property” and are subject to division. The only exceptions are gifts or inheritances explicitly designated as “separate property” for one spouse.

Equitable Distribution of Marital Property in Minnesota
In Minnesota, equitable distribution aims to divide marital property in a way that allows both parties to maintain a similar quality of life post-divorce. This doesn’t mean a strict 50/50 split—instead, the court evaluates several factors to determine a fair division. For instance, if one parent has sole custody of children, the court may award the custodial parent the marital home to support the children’s stability and well-being. Both parties must avoid actions that impact the value of assets (such as selling or damaging property) throughout the property division process.

How to Prepare for Property Division

Preparation is key to a smooth property division process. Here are a few steps you can take to get ready:

1. Inventory Your Assets and Liabilities
  Start by creating a detailed list of all assets and debts you own. This includes everything from household items to vehicles, financial assets, and business holdings. You’ll need documentation for bank accounts, income, investments, tax returns, retirement accounts, and liabilities. Compiling these documents early helps streamline the process and ensures full transparency. Omitting assets, even unintentionally, can lead to penalties, so thoroughness is essential.
2. Value Your Property
  Knowing the value of your assets can provide a clearer picture of what to expect from the property division process. Working with a certified public accountant (CPA) or asset valuation expert can help determine the worth of key assets, such as real estate or business interests. This valuation can be invaluable in creating a fair settlement and preparing for any potential financial adjustments.
3. Determine Marital vs. Separate Property
  Not all property is subject to division. Work with your attorney to identify any assets that may qualify as “separate property,” like those acquired before marriage or designated through a prenuptial agreement. Having a clear understanding of what assets fall under marital or separate categories can influence your strategy and protect specific assets from division.
4. Draft a Proposed Property Division Settlement
  The court doesn’t have to decide your property division if both parties can reach an agreement. By working with your attorney to draft an ideal settlement, you may be able to negotiate a fair division of assets and debts with your spouse. This collaborative approach can be less stressful, more cost-effective, and enables both parties to create an arrangement that works for their unique needs, rather than leaving these important decisions solely in the court’s hands.

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Why Choose Johnson/turner

Meeting Your Legal Needs

Choosing Johnson/Turner means working with a team dedicated to safeguarding your assets and helping you start your next chapter with a sense of security. Here’s what sets us apart:

Team-Based Support: Our clients benefit from a dedicated team that includes an experienced property division attorney, two paralegals, a client engagement specialist, and a life coach. This comprehensive approach means you have access to both legal and emotional support throughout the process.
Transparent, Flat-Fee Pricing: With our flat-fee pricing, you pay for our services, not our time. We’re committed to transparency, so you never face hidden fees or unexpected charges, giving you peace of mind as you navigate this challenging time.
Experienced Advocacy: Our attorneys are skilled in Minnesota property division law and understand how to build a case that supports your financial interests. Whether your goal is to secure the family home, protect personal assets, or establish a fair arrangement, we’re here to advocate for your best outcome.

Property division can be one of the most challenging aspects of divorce, but you don’t have to face it alone. Contact Johnson/Turner today to learn more about how we can help you protect your assets, plan for a secure future, and achieve a fair division of property.

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Life Coaching Services

Your legal well-being is our first concern, but we also want to help you create your own story. Matt Tuttle, our resident Life Coach, is here to help you navigate this difficult transition in your life by building on your strengths and abilities. As a client, you receive Matt’s Life Coaching service at no additional charge throughout the duration of your divorce case.