Minneapolis Property Division Lawyer
Minnesota Marital Asset Lawyer
Dividing marital property in a divorce can be a challenging task. Minnesota’s laws regarding equitable division of property can be confusing to anyone unfamiliar with them. Further, emotions tend to run high when divorcing couples debate who gets to keep the house, car, business and other property. To help you get through this stressful process, the assistance of a skilled attorney can be invaluable.
At El-Ghazzawy Law Offices, LLC, we provide trusted legal counsel regarding property and debt division in divorce cases. We represent individuals in the Twin Cities and the surrounding communities.
Separating Marital and Non-Marital Property
In Minnesota, absent the existence of a valid Prenuptial or Postnuptial Agreement, all assets are placed into one of two categories:
- Marital property — This generally includes property acquired during the marriage.
- Non-marital property — This encompasses any property brought into a marriage, property acquired with property brought into the marriage, as well as gifts and inheritances.
Marital property must be divided “equitably” in a divorce; as a practical matter this means equal division in most (but not all) cases. However, problems arise when one spouse disputes the classification of an asset or marital and non-marital funds are co-mingled. We can assist by assigning value to assets and tracing claims on property. When appropriate, we will consult with experts, such as accountants, actuaries or appraisers.
Adeptly Dividing Property
We work toward the equitable division of assets, frequently involving:
- Other real estate such as vacation property or investment property
- 401k accounts
- Other retirement accounts and investments
- Income tax and capital gains tax ramifications
If your case requires a business valuation or involves complex financial issues, we can help. Seeking an efficient solution to your property division matter, we will use our negotiation skills on your behalf. However, if litigation is necessary, we are prepared to litigate to protect your interests in court.
Are You Protected by an Antenuptial Agreement? Were you pressured into signing an unfair agreement?
If you have a valid antenuptial (aka prenuptial) or postnuptial agreement, the division of property task is simplified. These contracts protect specified property against division, safeguarding them for you and your children. In some cases, however, antenuptial agreements can be overreaching and unfair to the spouse with less assets. In these cases it may be possible to set aside the agreement on grounds of unconscionability. We will thoroughly review any contract in place, determining whether it meets the legal criteria for fairness, and if so, using it as a guide for division. If you are getting married, our attorneys will draft a prenuptial agreement that will suit your future needs.
Passionate Advocacy for Our Clients
For assistance with marital property division, contact us online or call our office at 612-659-0199.
Our offices are conveniently located in a stately mansion near downtown Minneapolis. Free parking is available in the lot behind the building.