Bloomington Property Division Lawyer

Property Division Attorney In Bloomington, MN

A divorce in Minnesota can be overwhelming and emotionally charged, especially when you are asked to formally divide marital assets. A Bloomington property division lawyer can help you navigate complex Minnesota laws and manage the division of your assets and debts.

Ronnie Santana at Santana Law can explain the entire process and work diligently and honestly to protect your family’s financial future. He understands that dividing assets and debts can range from fairly straightforward to highly complicated. Determining what is part of marital property can present many challenges. However, an experienced family law attorney can zealously advocate for your rights.

Equitable Distribution in Bloomington

Minnesota uses the equitable distribution system to divide marital property and assets. Across the state, property division in dissolution/divorce cases is governed by Minnesota Statute 518.58, which requires an equitable and just division of all marital property, including assets and debts. Minnesota does not concern itself with determining fault in a marriage, so it doesn’t divide assets based on marital misconduct (if any took place).

Unlike a community property state, which would divide all assets/debts equally, Minnesota divides any assets/debts accumulated during your marriage in a just and equitable manner between the divorcing spouses.

The actual property division process for a marital estate involves:

• Identifying all marital assets and debts
• Assessing their values
• Dividing them between the divorcing spouses

In the City of Bloomington, if the parties do not agree with a proposal to split assets/debts, the Hennepin County District Court can step in to resolve disputes.

Marital and Non-Marital Assets

During the property division process, it is crucial to know which specific items are typically included when dividing a marital estate. To be considered marital assets and debts, property or liabilities must have been acquired during the union.

However, non-marital assets and debts include items outside the marriage, like:

• Student loan debt incurred before the marriage
• Property inherited by only one spouse during their marriage
• A gift given to just one spouse

Non-marital property can become marital property if it’s mixed with marital property or used for marital purposes. In those instances, such property may lose its status as non-marital property.

Of note, debt is divided the same way as assets, so they will be divided equitably. If the parties can’t agree about dividing debts, a court can take into account the nature of the specific debt and each party’s ability to repay the debt. For additional questions about marital assets/debt, consult an experienced attorney.

Balance Sheets in Property Division

Attorneys typically create a balance sheet that lists all marital assets/debts, which often simplifies the entire process of dissolving a marital estate. This list typically includes information about the value of each asset/debt. Then, once the entire estate is assessed, the assets/debts are divided pursuant to Minnesota law and equitable distribution. However, if one party receives more in asset value than the other, a redistribution can happen to rebalance the division.

Complications With Asset/Debt Division

It can be challenging to determine the value of certain assets, like pensions, property, businesses, and homes. If your assets present any valuation complications, your attorney may collaborate with an appraiser to make sure the assets have been valued appropriately.

Also, some assets might have marital and non-marital components. Sometimes, spouses argue that one wasted marital assets, like if they spent money on illicit activities, extravagant shopping, or gambling. When one spouse argues that waste occurred, the court can adjust the division to compensate for such actions.

Resolving Property Division Disputes

There are several ways to resolve any property division disputes in your case, including:

• Mediation
• Negotiation with the parties
• Court intervention to resolve any outstanding issues

Dealing with disputes can be a draining part of the dissolution process. However, an experienced Bloomington property division lawyer can assert your rights throughout the process and make sure asset/debt division disputes are resolved fairly. Judges have leeway when deciding what is considered a fair division, so having a skilled attorney on your side can be critical for securing a positive outcome.

Minnesota Family Law Statistics

Property division cases are family law cases, and there are numerous such cases filed each year in Minnesota courts. In 2024, Minnesota recorded about 5.79 million residents, and our family law courts saw roughly 35,292 new family law cases.

Locally, Hennepin County noted a combined total of 8,726 family law cases. With this considerable number of family law matters flowing through our local courts, having a trustworthy attorney by your side is vital.

An Attorney Can Provide Reliable Legal Assistance

An attorney can protect your financial interests and legal rights. They can:

• Conduct an asset evaluation to make sure all marital property is accounted for, accurately identified, and properly evaluated.
• Protect any separate marital assets to make sure anything that rightfully belongs to you remains separate.
• Negotiate settlements without any unnecessary court proceedings.
• Represent your interests throughout the case.

Through these measures and more, a skilled Bloomington property division lawyer can work tirelessly on your behalf to assert your rights. Your attorney can help you get a fair outcome and protect your long-term asset division goals.

Contact Santana Law Today – An Experienced Property Division Attorney

Ronnie Santana at Santana Law can set you up for long-term success. A true Twin Cities denizen , he received his Bachelor of Arts and later his law degree at the University of St. Thomas in Minneapolis. As an experienced Twin Cities attorney, he can use his extensive experience with property division laws to improve your case.

Mr. Santana is a bilingual and bicultural attorney. His background as a native Latino lets him authentically represent the needs of his community. Furthermore, he was selected as a Super Lawyers® Rising Star for 2022-2023.

Ronnie Santana is the founding member of Santana Law, and he’s completely prepared to represent you in the Hennepin County District Court for your property division case.

Contact Santana Law today to schedule a consultation with a Bloomington property division lawyer.