When two spouses divide assets in a divorce, it is important to pay with attention to the tax consequences connected with certain assets. The clearest example is retirement assets. Usually, when someone receives a payment or distribution from a retirement account, it is a taxable event. So, someone in a twenty-eight percent tax bracket, who… Read more »
When a divorce case is submitted to the family law mediation process, the parties sometimes will have their attorneys present, and sometimes will not. Most mediators will not insist on the attorneys being present or on the attorneys being excluded from the process. However, it is also the case that most mediators will require that… Read more »
When a married couple owns a home, both spouses have an interest in the home, whether or not the house is titled in both spouses’ names. So if one spouse lives in a home for two years before the marriage, then gets married, the other spouse’s name does not need to be added to the… Read more »
One of the dilemmas that divorcing couples are currently faced with in this rough economy is how to deal with the marital homestead. In a depressed real estate market, it is not an optimum time to sell the house. But selling the house is a necessity for many couples in which neither spouse can afford… Read more »
One important change in Minnesota law in recent years pertains to changing the state of residence of minor children. Previously, Minnesota was one of a minority of U.S. states to allow a custodial parent to move with a child to another state unless the non-moving parent proved that the move was contrary to the child's… Read more »
At the outset of a divorce, should you clean out the joint account? Or should you refrain from cleaning out the joint account, just to see the account cleaned out by your ex? Suppose there is $10,000 in the account. If you take the $10,000, your spouse is likely to cry foul, and you may… Read more »
Family law mediation is a forum in which a neutral party (the mediator) meets with parties to help facilitate a settlement of the disputed issues or, in the alternative, to rule out settlement exhaustively, and help the parties reach an impasse. The mediator has no authority to make a decision or impose something upon one… Read more »
When a couple divorces, the personal property must be divided. That includes households goods and furnishings, and general "stuff" in the home. While the division of items can often be a contentious subject, family court judges discourage spouses from devoting too much time and emotion (and expense) to it. In many cases, the spouses… Read more »
In a divorce, when Spouse A leaves the marital homestead in the hands of Spouse B, typically Spouse B must buy out the marital interest of Spouse A. At least, that is how things used to be, before the current era of the depressed housing market. Today, it is not unusual for Spouse A to… Read more »
When divorced or separated parents need to make a decision about where their child or children will attend school in the fall, it can turn into a legal dispute. Regardless of the custodial arrangement that the children live by, it is preferable if the parents can be in agreement about school enrollment. If the parents… Read more »