During marriage, we kept our paychecks, bank accounts, and credit cards separate. How does this affect the division of assets and property if we get divorced? In Massachusetts, all of your assets and debts are considered marital and belong to both of you. It doesn’t matter whose name is on the accounts or credit cards or who paid which bills during the marriage.
Joseph Cordell, licensed in MO and IL only. Michelle Ferreri licensed in PA and NJ only - Philadelphia, PA. Kimberly Lewellen licensed in CA only. Dorothy Walsh Ripka licensed in OH, IL, MO, KY and TX only. Jerrad Ahrens licensed in NE and IA only. Lisa Karges, Florida Resident Partner - Tampa, FL. Giana Messore licensed in AR only – Little Rock, AR. Phyllis MacCutcheon licensed in CT and NM only. Office in Ridgeland, MS.
1st meeting: The couple and the mediator identify the issues needed to be discussed and the order in which they will be discussed, then decide what information needs to be gathered and shared. Between the first and later sessions the couple gathers all relevant financial data, or if necessary, the opinions of experts such as appraisers or accountants, with this material treated with the same care and concern as would be the case in the adversarial process.
Fill out and file Financial Statements. These statements document a) income, b) assets (house, cars, pensions, etc.), c) living expenses, and d) debts. There is a Long Form version if your annual income is over $75,000, and a Short Form version if your annual income is below $75,000. These forms disclose financial information that is necessary for coming to an agreement on Division of Marital Assets, Child Support, and Alimony (see Separation Agreement, below).
Minnesota has a "no-fault" divorce law. This means it is not necessary to prove your spouse is at fault for the breakup of the marriage. It is only necessary to prove that there has been "an irretrievable breakdown of the marriage relationship." This means that there is no hope that the spouses will want to live together again as husband and wife.
They had about $700,000 of equity in their house and she wanted to give him about $100,000 to walk away—much less than the law allows. She was not at all willing to consider his perspective. “What I came to understand was from his perspective, he was an abused husband. And his having an affair—which is not the best way to handle difficulties in your primary relationship—was a desperate act, because now that they were going to have a baby together, he felt that he was trapped in this extremely unhealthy relationship, and this was the only way he could think of to get out. So it was very eye-opening for me.”
Susan uses a transformative approach to conflict intervention, which places the principles of empowerment and recognition at the core of helping people in conflict change how they interact with each other. With a background and education in coaching and counseling her ultimate goal is sustainable relationship improvement through the process of med ... more
The major difference between a legal separation and a divorce is that if you have a legal separation, you are still married. The wife may not resume using her former name. If you decide you want to end your marriage after a legal separation is complete, you will need to go through the court process to get divorced. Some couples choose legal separation because of religious beliefs or moral values against divorce. In other cases, there may be insurance or other financial reasons for a legal separation.
In Minnesota, alimony or spousal maintenance is available as temporary, short-term or long-term. Temporary alimony includes payments made during the course of the divorce proceedings, while short-term involves a limited period following the divorce. Long-term spousal maintenance is essentially permanent. In most cases, alimony is short-term and allows the dependent spouse to obtain skills to sustain themselves. The court will consider the following when awarding alimony:
When discussing issues concerning custody parental access, think about where your kids will spend most of their time: where they go to school, where they take dance and karate and other extra-curricular activities. Think about whether they have any special needs and how you’ll care for them, how you’ll cover any private school or college costs, and where they’ll spend birthdays, holidays, and special occasions.