Before 2019 ends, many Minnesota married couples will decide to end their marriages. While current data shows that divorce is declining, it is still quite prevalent throughout the country. The reality is that there is no way to predict which marriages will last and which will not.
Every family situation in Minnesota and beyond is unique and some are more challenging than others. When divorce occurs, it can be difficult to adapt to a new lifestyle. Especially if there are unresolved legal issues between a custodial and noncustodial parent, it can cause serious problems and impede a parent/child relationship.
Most people experience marriages breaking up in one way or another. It may be part of a favorite television series, in the tabloids and among friends and family, but it is only when one finds oneself in the process of a divorce that one realizes what it really means. Minnesota couples may benefit from taking cognizance of some basic guidelines.
When you get married, there is a lot that one has to remember to do or change. Things like changing a last name where required, making sure to obtain a copy of the marriage certificate and many others. One may even open joint bank and credit card accounts, or buy a house in the name of both parties. What few people in Minnesota may consciously think of is that the same has to happen in reverse when in the case of divorce.
Married couples often give one another gifts -- some more expensive than others. Anything gifted during a marriage will be seen as marital property in the case of a divorce. Minnesota couples considering divorce may be surprised to find that decisions regarding marital gifts may be more complex than expected.
Most divorced Minnesota spouses will likely agree that ending a marriage is both financially and emotionally draining. However, it is crucial to avoid having the emotions rule the financial decisions made at this challenging time. This often happens when one spouse insists on keeping the family home after the divorce. Without proper consideration of all the factors, that person might find that the maintenance, mortgage and other house-related expenses are unaffordable on a single income. Securing a new mortgage on only one spouse's salary might be challenging.
Being self-employed can be stressful. The idea of "you and you alone" being responsible for the financial contribution one makes to a household can be daunting because being self-employed requires financial and time sacrifices. When a divorce then becomes reality accompanied by a realization of the financial implications it brings, one may become overwhelmed.
Establishing a business takes time and money and a lot of emotional investment. While it often becomes one's biggest financial asset, it also symbolizes personal achievement. So- what happens in the case of a divorce?
States are either considered as community property states or equitable distribution states. Minnesota is an equitable distribution state, which means that, in the case of a divorce, a judge will decide on the fairest way to distribute marital property. Ensuring a fair distribution of property is no easy feat and, very often, both parties may feel they were done in.
Most people have something that make them see red and lose their cool. One place where even the most easygoing person can be tempted to act out is family court. In divorce proceedings, the judge may give such detailed instructions of what may and may not be done, that the recipient of the message may feel like he or she is in kindergarten. Despite how this makes a person feel, Minnesota divorcees can only benefit from adhering to these court orders.