MN Property Division
During most divorces, both parties wonder who will get the house, the cars, etc. Generally, any property and debt acquired during the marriage is divided equitably. Most of the time, this means an equal division. However, there are significant exceptions to this rule. In addition, property owned prior to your marriage or as a result of a gift or inheritance can belong exclusively to one party or the other. Furthermore, should a prenuptial agreement have been signed prior to the marriage, that will have to be taken into account as well.
All assets and debts that have been acquired during marriage will be taken into account during distribution. This includes 401(k)s, pensions, retirement accounts, business assets, physical property, and outstanding debts.
A mediation process can help you to divide your assets and debts in a manner that helps you and your children move forward with as little disruption as possible. The more time that goes on while your divorce and assets are in limbo, the more disruptions that can happen. We seek to minimize this by seeking equitable and fair distribution of assets so that both parties can move on. Mediation is often the best alternative.