What Is Your Wife Entitled to in a MN Divorce?

If you’re going through a Minnesota divorce, one of the key steps is dividing the assets you share with your spouse. While the specific division of marital property varies depending on a couple’s situation, the general rule is that you and your spouse must split your assets fairly. Fairly doesn’t necessarily mean an even split, though, and Minnesota courts must follow specific guidelines to determine a fair division. Our Woodbury, MN, property division lawyers explain more below.

Minnesota Law on Dividing Property in a Divorce

Minnesota uses the equitable distribution model to divide a couple’s property in a divorce. This system requires the courts to consider many factors to determine a fair division of a couple’s property and debts, though that split doesn’t need to be 50/50. Under Minnesota law, the factors that the courts must consider to divide a couple’s shared property include:

The length of the marriage
Any prior marriages among both spouses
Each spouse’s age and health
Each spouse’s occupation, income, and vocational skills
Each spouse’s estate, liabilities, and needs
Each spouse’s opportunities for acquiring new income or assets
Contributions by both spouses to marital property, including homemaking
Any changes in the value of a couple’s assets during the divorce process
Any pension and retirement accounts that either spouse may have

These factors vary significantly among couples and can result in dramatically different property splits. For example, if one spouse earns substantially more than the other, the courts may award the lesser-earning spouse more assets to make up for this difference.

Dividing Marital Property vs. Separate Property in a Minnesota Divorce

It’s vital to know that Minnesota law only requires couples to divide their marital property in a divorce, not their separate property. Separate property refers to assets a spouse owned before the marriage or acquired through inheritance or gifts specifically to that spouse. Examples of separate property include an inheritance from a relative, a gift received before the marriage, or property outlined as separate in a prenuptial agreement. However, if a spouse mixes separate property with marital assets, such as depositing an inheritance into a shared account, the court may treat it as marital property during the divorce.

How Prenuptial Agreements Affect Property Division in Minnesota Divorces

Prenuptial agreements, also called antenuptial agreements in Minnesota law, allow couples to outline how they will divide their property in a divorce. These agreements can address the division of marital and separate property, spousal maintenance (alimony), and rights to each other’s estate. For a prenuptial agreement to be valid, both parties must disclose their income and assets fully, have a chance to consult separate attorneys, and sign the agreement at least seven days before the wedding.

The agreement must also be in writing, witnessed by two people, and acknowledged before a notary. However, prenuptial agreements cannot include provisions that violate public policy, such as provisions waiving child support payments. Additionally, the court may refuse to enforce provisions that are unfair due to drastically changed circumstances since the couple signed the agreement.

How Prenuptial Agreements Affect Property Division in Minnesota Divorces

The Lake Elmo property division attorneys at Coodin Law Office, LLC can help you claim your fair share of your marital assets during a Minnesota divorce. We’ll handle all the paperwork, represent you in court or mediation sessions, and work hard to make sure that your spouse fully discloses all your shared assets. Call (651) 209-1155 now or complete our contact form for a free consultation.