Call Today for a FREE Consultation
Toll Free: 800-585-1385
Local: 763-200-5754

August 2018 Archives

Asset division for older couples in a divorce

When older people in Minnesota get a divorce, their focus may be more on dividing retirement savings and other elements related to property division compared to younger couples who might be concerned about child custody. People should be aware that there are a number of specific rules for dividing these types of assets. Annuities can pose particular complexities, and some people may agree for one to keep the annuity and the other to take another asset since cashing it out can lead to a significant drop in value.

Hiding assets during divorce is both wrong and illegal

Once you decided to divorce, you were hopefully able to set time aside to sit down with your children and talk about the life changes coming their way. The good news in that regard is that kids are typically quite resilient and adaptable barring any extenuating circumstance that would impede their ability to function in a positive manner.

What business owners should consider during a divorce

When business owners in Minnesota get divorced, dividing company assets can be a challenging process. The initial step in the process is figuring out how much the company is worth. A valuation professional should be granted access to the company's financial records and any other information needed to figure out its true market value. Once it has been appraised, it may be necessary to determine how much of the company's growth took place during the marriage.

Student debt often cited in divorce cases

Higher education costs have risen sharply in Minnesota and around the country in recent years, and student loan debt in the United States has climbed to an all-time high of $1.48 trillion as a result. Figures from the U.S. Federal reserve reveal that students who graduated from college in 2017 will have to repay an average of $39,400, and this debt can have a profound impact on their lives and relationships. When researchers from the debt management website Student Loan hero polled 808 divorced American adults, more than a third said that student loans and other financial problems had contributed to the breakdown of their marriages.

Child support and joint custody: what parents need to know

Child support obligations are usually determined by the regulations found in the Child Support Standards Act, but that all changes with joint custody. When parents share custody of a child, a variety of additional factors will need to be taken into consideration. In the state of Minnesota, a very specific formula is used to determine how much a parent will pay in child support if custody is shared.

Marvin Law Office, L.L.C.

Firm Location:

Marvin Law Office, L.L.C.
2150 Third Avenue North
Anoka, MN 55303

Toll Free: 800-585-1385
Phone: 763-200-5754
Fax: 763-427-1178
Anoka Law Office Map

Firm Numbers: