Edina Property Division Lawyer

Edina Property Division Attorney

Divorces are incredibly emotional for everyone involved. However, issues like property division can add additional strain. Years of effort put into accumulating assets and debt are now at stake, and disputes over fair division easily become heated. A skilled Edina property division lawyer can help you protect your financial future if you are getting a divorce in Edina, Minnesota.

Understanding Property Division Laws in Minnesota

Property division refers to the splitting up of assets and debts between spouses as part of the divorce process. The division of property between divorcing spouses typically includes assets such as real estate, bank accounts, retirement accounts, personal belongings, and shared debts.

Minnesota is an “equitable distribution” state. Equitable distribution does not necessarily mean equal, or 50/50, distribution. Instead, the courts will attempt to divide property equitably, or in a fair manner. The court evaluates multiple factors, including the marriage duration, each spouse’s income and earning potential, as well as their contributions to the marriage, when determining property division.

Property division laws can be complicated. That is why you need an Edina property division attorney who is familiar with the tendencies of the local courts, such as the Family Justice Center in Minneapolis. Ronnie Santana can analyze your financial situation to ensure your priorities are protected and present your side of the story effectively during negotiations and hearings.

What Is Considered Marital Property?

Not all property is up for division in the case of a divorce. Most types of property can be placed into two general categories. These include:

• Marital property. This is property that is obtained by either spouse during the marriage. Marital property generally includes the marital home, cars, joint bank accounts, retirement accounts, and household items.
• Non-marital property. This consists of assets owned before marriage and items obtained through gifts or inheritances. It is possible for non-marital property to remain non-marital, but there is often disagreement about whether it was comingled with marital property.

Sorting through these different types of property can be a challenge, particularly if any of the property was comingled or if one spouse disputes ownership of certain assets. An experienced Edina property division lawyer can help.

Challenges in Property Division Cases

In 2022, the divorce rate in Minnesota was 10.91. Nationally, the number of women who self-reported that they divorced rose from 948,862 in 2021 to 989,518 in 2022.

The process of property division encompasses both debts and liabilities, along with financial arrangements. Some of the most common complications we encounter include:

• The valuation of the marital home
• Equitable distribution of retirement and pensions
• Division of business ownership interests
• Significant marital or non-marital debt, such as credit cards and loans
• Protecting inheritances or gifts that are non-marital

No two cases are the same, and sometimes, even the couples who have resolved many issues are surprised to find they disagree when it comes to splitting property. Ronnie Santana can help you work through these complications while fighting for a property division resolution that will safeguard your future.

Property Division Options

Property division in Minnesota is often handled through negotiation or mediation, allowing couples greater flexibility and control over the outcome. Working together through negotiation or mediation leads to reduced stress levels for divorcing couples while saving valuable time and fostering better post-divorce relationships.

Minnesota courts divide assets and debts based on equitable distribution laws whenever couples cannot agree on property division terms. The judge examines each spouse’s contributions and income, along with their future needs, to determine an equitable asset division. An experienced attorney can protect your interests through negotiation or litigation.

About Santana Law, PLLC

At Santana Law, PLLC, we are committed to delivering trusted, compassionate, and effective legal representation for people facing serious legal issues. As a former prosecutor, founding attorney Ronnie Santana now practices with a focus on defending and guiding clients through the legal process in Bloomington, Edina, and the Twin Cities.

His courtroom experience on both the prosecution and the defense enables him to analyze complicated cases while safeguarding his clients’ rights. Santana Law, PLLC, pledges support to clients with any criminal charge, DUI case, or family law issue as they fight to achieve optimal legal results.

FAQs

What Is a Property Lawyer Called?

A property lawyer can also be known as a real estate attorney, or, in the case of divorce, a property division lawyer. In family law, this type of attorney helps clients through property disputes, which relate to the division of assets and debts between spouses. This includes identifying what is considered marital property and valuating said property.

How Is Property Divided in a Divorce in Edina, Minnesota?

In a divorce in Edina, Minnesota, property is divided equitably. Minnesota is an equitable distribution state. The court that distributes the marital estate considers the length of the marriage and each spouse’s financial status while taking into account their contributions and future requirements. Property acquired before marriage, gifts, and inheritances can be considered non-marital property, and they may not have to be divided if not commingled.

How Long Do You Have to Be Married to Get Half of Everything in MN?

Minnesota has no magic number for the length of marriage that will automatically result in each spouse getting one-half of everything. Minnesota courts use the concept of equitable distribution, which considers the contributions, financial circumstances, and needs of the parties. This often results in a relatively equal division in long-term marriages. In short-term marriages, the outcome can vary.

Can My Wife Take My House If I Bought It Before Marriage in Edina?

If you owned a house before you were married, it is considered non-marital property in Edina, MN. In most cases, it can be yours after the divorce. However, if you used marital income to pay the mortgage or make home improvements or repairs, the value could be divided. The court looks at this issue in great detail on a case-by-case basis.

Hire a Property Division Lawyer

Going through a divorce is rarely easy. Dividing property can be complex, especially if you have significant assets and debts. If you are going through a divorce, hire a property division lawyer with Santana Law, PLLC, today. Contact us to get started.