Property Division

Minnesota is not a community property state. In Minnesota, the standard for division of marital assets and debts is an "equitable division." Depending on the specific facts and circumstances in each case, an "equitable division" may mean a 50/50 division of marital assets and debts or it may mean a division that is not 50/50. Factors considered in determining an equitable division of property include: the length of the marriage, the parties` financial circumstances, and employability and health of the parties.

In general, real or personal property or retirement assets acquired during a marriage are presumed to be marital property in Minnesota, even if title to property is only in one party`s name or one party is or was a stay at home parent. "Non-marital property" is an exception to this presumption of marital property. "Non-marital property" includes: property acquired before the marriage, gifts to or inheritance by one party before or during the marriage, property excluded by a valid antenuptial agreement and property acquired after the "valuation date."

Appreciation or growth of an asset during the marriage is presumed to be marital property, however, non-marital property can also include the increase in value of an asset acquired before the marriage such as a home or retirement asset to the extent such growth or appreciation can be traced to the non-marital source. The application of the law to the particular facts and circumstances of a case can be fairly straightforward or complex.

At Napuck Law Offices, P.A., we approach a property division as one piece of an overall settlement. Each case deserves individualized attention to best meet a client`s goals. As in any settlement negotiation, compromise to some degree is often the key to a resolution outside of court. Geri helps clients identify what goals are most important and what realistic options are available so her clients can make informed decisions about their course of action.

Spousal Maintenance

Spousal maintenance or spousal support used to be called "alimony." Spousal maintenance is financial support paid by one spouse to the other after a divorce and can either be temporary or permanent. Temporary spousal maintenance can mean spousal support for a set period of time or spousal maintenance paid until the receiving spouse is able to update employment skills necessary to become self-supporting. Permanent spousal maintenance is spousal support paid until either spouse dies or the receiving spouse remarries. Spousal maintenance payments are taxable to the recipient and deductible by the paying spouse.

Spousal maintenance can also be paid in a one-time lump sum amount. This form of payment can involve tax considerations that should be explored before an agreement is reached. This form of payment is often accompanied by a waiver of all future spousal maintenance payments.

Many considerations come into play when considering the amount and length of spousal maintenance, if any, in a case. The underlying equation is an established need for spousal maintenance and an established ability to pay such spousal support. Factors include: the length of the marriage, the standard of living established during the marriage, the relative incomes or earning potential of each spouse and the health of each spouse.

Spousal maintenance is intended to avoid an unfair economic consequence resulting from a divorce. Unlike child support in Minnesota, which provides guidelines to presumptively determine the amount of child support, courts have broad discretion in determining whether or not spousal maintenance is appropriate, and if so, the amount and length of time such support should be paid.

At Napuck Law Offices, P.A., we guide clients through a potentially complex area of law. If professionals such as certified public accountants are need in cases to provide clients with tax information critical to decision-making, we can suggest trusted professionals to provide information helpful to settlement. Our goal at Napuck Law Offices, P.A. is to provice clients with our best efforts to minimize the stress and uncertainty of the future.

Learn more about Minneapolis divorce attorney Geri Napuck.