Restricted stock and stock options, often a valuable component of corporate compensation packages, create a challenge when dividing assets in a divorce. These assets, which are becoming a common incentive to lure and retain employees, give the employee spouse the right to buy stock in their company at a set price, at a future date. […]
What is Your Business Worth in a Divorce
Three Key Factors to Consider when Evaluating Your Business to Sell, Split, or Co-Own Valuing and dividing business interests is a common and challenging issue in a divorce. This can happen in the context of stock options for an executive, partnership interests in a professional association, or dividing stock in a family-owned or other closely […]
How to Divide Your Retirement Plans in a Divorce
Asking Your Lawyer the Right Questions Will Simplify the Process Retirement plans including IRAs, 401(k)s, pensions, and deferred compensation accrued during a marriage are considered marital property in Minnesota. But accounting for their value (both marital and non) and dividing them up can be challenging. Unlike dividing liquid assets, like the cash in your bank […]
Blog #76: Diamonds are Forever… Or Are They?
Written by: Dan O’Connell and Lindsey O’Connell Q: What Happens to the Rings When the Relationship Doesn’t Last? A: I once had a client who received a wedding ring from her fiancé when they got engaged. She later found out that he was a fraud. It turns out he had lied to her about many important, material facts […]
Q&A Blog #73: When Child Support Ends
Written by: Ben Olson Question: Does child support automatically stop when my child turns eighteen? Answer: Unfortunately, there is no “one size fits all” answer to this question. In most cases, child support automatically ends when the youngest child in the family has (1) turned eighteen, and (2) graduated from high school. Read the discussion […]
Q&A Blog #71: Child Support and Overtime Income
Written by: Ben Olson Question: Can child support be based on overtime income? Answer: Minnesota law allows the Court to consider overtime income when calculating child support, but only in limited circumstances. Read the discussion below to learn more. Discussion: In Minnesota, child support is based on both parents’ gross income. Gross income is what […]
Blog #68: Affairs and Dissipation Claims
Q: I just found out my spouse is having an affair. I also found out that my spouse has used our money to support the affair in the form of gifts, dates, and so on. My spouse says he wants a divorce. What can be done about the money that has been spent on the […]
Q&A Blog #66: I have a special needs child who requires extra care. Is there a way I can get more child support because of his special needs?
Q: I have a special needs child who requires extra care. Is there a way I can get more child support because of his special needs? A: Minnesota law allows for upward deviations of child support in a few circumstances. One factor the Court considers is the extraordinary financial needs and resources, physical and emotional […]
Q&A Blog #63: Can I change my child’s name as part of my divorce?
By: Letty M-S Van Ert Q: How do I change my children’s names? Can I change my children’s names as part of a divorce? A: Generally speaking, children’s names would not be changed within the divorce proceeding the way a party’s name could be changed by virtue of a divorce. An application separate from the divorce […]
