In Minnesota, assets are divided during divorce using equitable distribution. This does not mean that everything is divided in equal parts. Instead, it means that assets will be divided in a way that is fair.
The experienced divorce attorneys at Terzich & Ort, LLP, assist clients throughout the Twin Cities with complex property division, asset tracing and other issues surrounding marital property. Experience has taught them creative ways to complete disputed property division cases, while keeping costs affordable for clients.
Call for your initial consultation to discuss your questions about property division in divorce at 763-391-7354. Initial consults are paid at the attorneys’ hourly rate for the time you meet. Terzich &Ort has several attorneys to select from to help you work within a budget.
Get Answers To Frequently Asked Questions
What is considered marital property?
Anything the couple buys or owns together during the marriage and the time they made a life together. There are always exceptions, some of which follow in the next few questions.
If my name isn’t on the title, does that mean I don’t have any ownership interest?
No. Even though your name is not on the title to a house, vacation property, boat, vehicle or other assets, these will still be considered as part of the marital property.
Are my retirement accounts safe from property division?
Retirement funds saved before the marriage are non-marital. This is something that is fairly easy to prove. However, retirement funds accumulated through contributions during the marriage will be subject to equitable distribution.
Does the engagement ring have to be returned?
No. The engagement ring is considered a gift and, therefore, may be kept.
What if I received an inheritance during the marriage?
If you received an inheritance and kept the money separate from other marital accounts, that inheritance is non-marital. Keeping money such as an inheritance or gifted money separate makes it easier for the courts to see that the money was actually meant just for you. Once funds are mixed together in marital savings and checking accounts, it’s difficult to parse out what belongs to whom.
Get Experienced Legal Guidance
Call us to find out how we can help in your divorce. The Maple Grove divorce lawyers of Terzich & Ort, LLP, assist clients with equitable asset division during divorce. Schedule a consultation about your divorce case by calling 763-391-7354. You may also email the law office to make your appointment. The firm accepts major credit cards and focuses on keeping client costs down.