When a couple who owns farmland in Minnesota divorces, one of the most complicated aspects of the division of assets is determining how to handle the land. If farmland is the primary marital asset, it can significantly impact the financial future of both parties. Farmland often holds significant value both in terms of its real [...]

In Minnesota, the division of property during a divorce follows the principle of "equitable distribution," which means that marital property is divided fairly, though not necessarily equally. But what about an engagement ring? Is it considered marital property or non-marital property? Under Minnesota law, an engagement ring is generally considered a "gift" and is treated [...]

In Minnesota, marital property is subject to an equitable division between the parties. Marital property is everything that was accumulated during the marriage regardless of who paid for the item or which spouse is the owner. Retirement assets (e.g., pension, 401(k)s, 403(b)s, and IRAs) that were earned during your marriage are considered marital property and [...]

In Minnesota, all assets that are accumulated during the marriage are considered marital property that would be subject to division in the event of a divorce. There are certain types of assets that can be considered non-marital property, which could include an inheritance received during your marriage. Property that is classified as non-marital is typically [...]

In Minnesota, retirement assets that are accumulated during the marriage are generally considered marital property and subject to division during a dissolution of marriage (divorce). This includes assets such as 401(k)s, pensions, and IRAs. Marital assets are divided between both spouses in a manner that is fair and equitable, even if only one spouse contributed [...]

In many divorces, pets are more than just animals—they’re beloved members of the family. However, when it comes to dividing property in a Minnesota divorce, pets are considered personal property, not children or family members, which means they are subject to the same laws as other possessions like furniture or vehicles. Under Minnesota law, the [...]

In Minnesota, the division of assets during a dissolution of marriage (divorce) is governed by the principle of "equitable distribution." This means that the court will divide property, including the family home, in a way that is fair, but not necessarily equal. The goal is to ensure both parties receive a fair share of the [...]

Going through a divorce can be a difficult and emotionally draining process. However, with the right approach, it is possible to navigate the situation in a way that leads to the best possible outcome. Here are some of the best tips for getting the most out of your divorce, both financially and emotionally. Understand Your [...]

This is not the first or last time you will hear this: COVID-19 changed everything. But it has had a specific impact on business owners who are trying to figure out how their businesses will survive the disruptions of the past few years. There was so much uncertainty that it was difficult to see past [...]

The highest ethical standards are required for all types of trustees, whether they are dealing with personal assets or business interests. In all cases, the golden rule is that a trustee should put the beneficiary's or client's interest first. Important guiding principles The first and foremost duty is that of loyalty. A trustee must always [...]