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

Divorce Archives

Personality traits can be predictive of divorce

Most Minnesota couples enter into marriage with optimism about its long-term success but are likely mindful of the conventional wisdom that about one half of all unions ultimately fail. The desire to succeed may not in and of itself be a difference maker, but an awareness of specific personality traits, which may point to a greater probability of a split if left unchecked, could be useful in tilting the odds in favor of longevity.

The new tax laws make divorce even more costly

It may seem counter-intuitive to suggest to a Minnesota couple to plan their divorce, yet like other significant financial events during one's life, understanding the realities and preparation make the split easier for all concerned. The economic burden of establishing two separate households cannot be ignored, and the Trump administration's Tax Cut and Jobs Act passed in 2017 has provisions affecting divorced couples beginning this year.

Divorce can impact health, especially for seniors

A growing movement toward divorcing later in life may have serious impacts on the health and finances of the people involved. Divorce is one of the most stressful life events a person can go through, and for older people it can increase the risk of depression or other adverse health conditions. People in Minnesota who are approaching or going through divorce should be aware of the impact it can have on their health. Awareness of psychological conditions like depression can be helpful.

About prenuptial agreements

Couples in Minnesota who are planning to get married should seriously consider completing a prenuptial agreement. A prenuptial agreement, or prenup, is a legal document with which individuals can specify how assets are to be allocated if a divorce should take place. While the idea of a prenup may have a stigma attached to it, there are number of reasons couples should discuss and complete the document before they get married.

Divorce more common among older Americans

In Minnesota and across the country, divorce is on the rise among the baby boomer generation. Since 1990, the divorce rate has doubled among Americans age 50 and over. During the same period, the rate has tripled among people 65 years old and above. These statistics are in contrast to the fact that the divorce rate has remained stable or even declined among individuals across all demographic groups. There are a number of factors that contribute to the growing phenomenon that has been termed "gray divorce."

Study shows divorced women accumulate wealth better than singles

Many women in Minnesota involved in a divorce will be faced with the financial issue of obtaining the marital home in the settlement. A new study presents data that is contrary to traditional advice of financial planners and has reopened the hotly debated issue.

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.

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.

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: