You shared a life with your spouse including assets, property and debt. Dividing what you once shared isn’t easy.
When a couple divorces there is typically personal property that has been acquired during the marriage that must be divided and awarded to one of the parties. There are two types of property: marital and non-marital. Marital property is what has been acquired during the marriage. Non-marital property is what was acquired before the marriage or property that was inherited by one spouse and not the other. All property or debts acquired after the marriage and before the valuation date is presumed to be marital property and subject to division at the time of divorce.
Seymour Family Law can assist you with the division of all types of real property and real estate, including but not limited to: residential homes, commercial or business real estate, vacation property, and investment property, pensions and retirement accounts, stocks and investments, automobiles and recreational vehicles, collections, debts and liabilities. In Minnesota, marital property and debts are subject to "equitable distribution," not necessarily on a 50/50 basis. Equitable division means that marital property and debts must be divided fairly between both spouses. In many instances, the 50/50 division is often the starting point and the property may be divided in a number of different of ways.
You and your spouse can divide your property by agreement or allow the court to issue a decree awarding the property to a particular party. As your legal partner, our goal is to enable our clients to come to a fair and equitable property division settlement, without the need to go to court. Seymour Family Law will fully assist you with drafting a proposal that is fair and that also protects the value of important personal and business assets.