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Discovering hidden assets in a Minnesota divorce

Dividing marital property can be complex. Couples facing the breakdown of their marriage often do not see eye-to-eye. Disputes over the value of the home or other substantial assets may seem burdensome. However, when one spouse decides to break the rules and hide assets before the divorce papers are filed, it is vital to work with a strong legal team to protect your financial future. Uncovering hidden assets may be more complicated than resolving disputes over market values.

Several years ago ForbesWoman and the National Endowment for Financial Education commissioned a small study of financial deception or financial infidelity among married couples. Harris Interactive surveyed slightly more than 2,000 people. Nearly one-third of the participants (31 percent) admitted to cheating on their spouse financially. 

Three tips to help prepare for divorce

If your marriage has reached the breaking point, you likely know that going through divorce can bring forth a variety of emotions.  Whether divorce comes as a surprise or after a long breakdown in the relationship, the emotional turmoil can seem overwhelming for many individuals. Of course, if your marriage is at the breaking point, you likely are well aware that emotions can peak during divorce.

Taking stock of your individual circumstances, evaluating your future goals, and preparing for the divorce process as early as possible can help you to move forward with a greater sense of confidence. Moreover, having a plan in place from the start can help to look through the cloud of emotions to make important decisions with better clarity. 

More couples over the age of 50 are getting divorced

Many baby boomers are finding emptiness in their marriages, according to researchers. The divorce rate among couples over the age of 50 has doubled in the past 30 years. For those over the age of 65, the spike in divorces is even higher.

Notably, the age bracket we are talking about also has increased in the same time frame. The baby boom generation alone saw higher numbers than previous generations, hence the moniker that has lasted since the end of WWII. Life expectancy has also increased in the past few generations. Some commentators also note that more women are financially independent after having a career - a component that previous generations did not see in large numbers.

Understanding the importance of communication in co-parenting

It is no secret that divorce is often a highly stressful experience. The loss of love, and often the loss of trust, between partners can involve emotional strains that often create barriers to ongoing communication. After the divorce is finalized, the adults often go their separate ways when it comes to day to day activities. Many individuals enter new relationships, or pursue new opportunities for their own personal growth after divorce. At the same time, maintaining a strong parent-child relationship is typically a top priority for divorced parents.

Co-parenting and communication makes a difference

Electronic communications may be used against you in divorce

Social media has become a part of how we interact and communicate with friends. Posting on Facebook, sending a text message and tweeting on Twitter have become second nature for many when events arise in their lives. These activities have become so engrained in our culture as a way to chronicle our lives that it is easy to overlook that these messages are very public – no matter what efforts people make to limit access to their social media posts.

Updating your friends on Facebook can create evidence for your spouse

Calculating alimony in Minnesota can be cumbersome

Determining whether spousal maintenance should be required in a divorce can be a complicated process under Minnesota law. If alimony is appropriate, calculating the amount of the maintenance award may be hotly contested. Family court judges are given wide discretion in calculating spousal maintenance awards. This kind of financial support is generally thought to be based on need. The purpose is to ensure that the recipient is able to maintain a fairly similar standard of living following the dissolution as he or she had during the marriage.

In many marriages, both spouses enjoy a career and earn income. However, there can be a large disparity in income between the spouses. In today's economy, wages are not always steady. Variable schedules, less than full-time hours, and seasonal variations may make it difficult to compare one income to another. Often, a spouse may argue that their soon-to-be ex is not making the full income she or he is capable of earning.

Spring is the time for divorced parents to talk about change of school plans

Life often takes many twists and turns. After a divorce, each ex-spouse moves on with his or her new life. New job opportunities may make it necessary to move to a new home. New relationships may lead to relocating to a new home. Changes in the needs and interests of a child may require a change of direction. Even if you believe a new school has a program that meets the needs of your child better than his or her current school, does your ex agree with your assessment?

When parents of minor children go through divorce, addressing educational opportunities for the kids is a vital step in resolving custody and parenting time issues. However, the final court order may identify school choice issues as being linked to the address of one parent.

How marriage and divorce may affect women's health after age 50

Most research on the relationship between marriage and health indicates that divorce can be detrimental to women's well-being. However, a study on the effects of marital transitions on women's health after age 50 suggests otherwise.

The Study

The study collected data on over 79,000 women aged 50-79 over the course of three years, according to GoodTherapy.org. Researchers tracked health and lifestyle factors such as weight, waist circumference, blood pressure, alcohol and tobacco use, diet, and exercise habits. Participants were then divided into three groups -- those who married or entered a long-term relationship, those who divorced, and those whose marital status remained unchanged throughout the study.

Five tips for telling the kids about divorce

Telling your children you're getting divorced is challenging. For parents, divorce may represent a fresh start and an end to a painful relationship. For kids, divorce may mean their world is changing in ways they don't understand for reasons they don't comprehend. Children are resilient and the way you tell your kids about the divorce can help them through this difficult time.

Tell them together. When you and your spouse explain the situation to your children together-as a choice "we" are making-you show your children that the two of you can still work together as their parents and that the divorce will not stop either of you from loving them, caring for them, or being their parents.

Resolution: Estate plan

When the ball dropped at midnight, most Americans made a resolution. Some made a silent, personal vow to better their lives: to fix a troubled relationship or to get out of debt. Others said it aloud, proclaiming a desired weight loss or the completion of a home renovation project. Whatever the resolution, odds are good that it involves money, family or both.

As we make adjustments in the new year, updating the estate plan is often overlooked. If there's a relationship or job change in your family, it's likely that you should tweak your plan to reflect your new life.

Maybe, like over half of Americans, you don't have an estate plan at all. Setting one up is a resolution that can't wait until 2018.

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Eagan, MN 55122

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