Divorce can be stressful and emotionally challenging, regardless of a person’s financial circumstances. But, for high-income Minnesota couples, property division issues can be particularly difficult.
In Minnesota, property obtained during the marriage by either party, except as a gift to only one spouse or through inheritance, is deemed to be marital property and is divided equitably between the parties. Under Minnesota law, all property a couple owns is presumed to be marital property unless a spouse can prove otherwise. If a spouse can show they owned an asset before the marriage, or acquired it by gift or inheritance, it can be classified as non-marital property and will remain the sole property of the spouse who owns it. The issues can be complex, and how an asset is titled has no bearing on whether it is marital property or not.
For couples with substantial wealth, the process of valuing assets and allocating them between the spouses can be a significant task. The couple may have more than one home. They may have to appraise and divide business assets, artwork and retirement accounts.
At the law firm of Sheridan & Dulas, we have the knowledge and experience to handle complex divorce cases for high-income clients. We understand the complex valuation issues that often arise in these cases. Attorney DeAnne Dulas has been practicing family law in Minnesota since 1996 and has gained a reputation for vigorous representation and unwavering dedication to her clients’ interests. For more information about our high asset divorce practice, please visit our web page.