Divorce is a challenging process that involves untangling various aspects of life, including financial matters. Understanding the tax implications during a divorce is important for individuals looking to safeguard their financial well-being. 1. Division of assets When...
Family Law
How do courts divide basic support in Minnesota custody cases?
Parents dealing with child custody and support proceedings may not know what to expect, especially when different rules apply in each state on top of considering the unique circumstances of each case. Whether one or both parents are obligors to pay child support, it...
How to determine the value of your business in a divorce?
You can determine the value of your business by analyzing the business assets. You would need to calculate the liabilities and subtract them from the business assets. Assets and liabilities can be challenging to measure because factors like intellectual property are...
2 strategies against stonewalling in a divorce
Stonewalling feels exactly how it sounds. It happens when someone refuses to communicate or cooperate, which is especially hard during a divorce. This tactic can stagnate the divorce process and create an atmosphere of frustration and hostility. Here are two...
Does physical custody of children affect who gets the family house?
Each divorce case is unique, but one thing they all have in common is how challenging they can be. This is almost always true when children are involved in the process. Whether divorcing spouses decide to settle amicably or have the court decide for them, children...
How can you handle a high-net-worth divorce?
The higher your net worth climbs, the more of a headache divorce becomes. Even for couples with fewer assets, asset division takes time and often invokes plenty of arguments. Keeping some tips in mind when facing asset division can go a long way in terms of handling...
4 important factors to consider before signing a prenup
A prenuptial agreement, also called "prenup" or antenuptial, is a legal document drafted before marriage that outlines how to divide property and debts in case of separation or divorce. Although signing such an agreement might seem unromantic, the document's purpose...
Is your spouse trying to hide assets?
Attempting to hide assets during a divorce is not recommended and is in fact illegal. However, knowing this does not stop some people from trying it anyway. In such cases, it is best to know what sort of red flags to look for. Changes in spending habits Forbes...
How can you emotionally cope with the divorce process?
If you and your spouse have plans to divorce, you may worry about how this decision will affect your finances, living situation and any children you have. All of these worries can result in more stress in your daily life than normal. According to the Centers for...
Is lump-sum alimony right for you?
It can be hard to make ends meet after a divorce, as divorced individuals often must adjust to living on a single income. Luckily, according to Minnesota law, after considering certain factors, judges can award spousal support to either party. During out-of-court...
