A business which is the sole source of the couple’s income could end up shut down if the couple is unable to discuss the issues related to the business. This could lead to both parties suffering financially. A divorcing couple with a business can enter divorce mediation and may be able to come up with a compromise which could potentially save the business. Even if every little detail is not agreed upon, the mediator will attempt to get the couple to work together for the good of the business.
What the mediator can do, though, is to point out in open session to both spouses things that each of them should be aware of about what they’re trying to accomplish. That open and free exchange of information frees up both spouses to negotiate with each other in confidence. Because both spouses are working with the same base of information, it usually takes far less time to negotiate a resolution that makes sense to both spouses.
Financial Early Neutral Evaluations (FENE) allow the parties to meet with an accountant or lawyer neutral expert to assist the parties in preparing a balance sheet and help to negotiate a division of property. These experts can also assist in preparing cash flow summaries to help the parties settle issues of child support and spousal maintenance. As with social early neutral evaluations, the neutral may advise the parties what they believe will occur if the matter is fully litigated. As with Social ENEs, many counties provide rosters of lawyers and accountants certified to assist with FENE's in that county.
Like all states, Minnesota courts begin with a presumption that it's best for a child to have frequent and continuing contact with both parents after a divorce. If possible, judges want to support joint custody arrangements. However, the exact nature of the time-share will be determined by the children's best interests. For more information, see Nolo's article Child Custody FAQ.
Amy provides resources for small and medium size businesses needing to handle conflicts in a cost effective and timely manner. With experience of 22 years working at a Fortune 10 corporation, Amy brings her skills of negotiation, strategic planning and personal connection to resolve any conflict to resolution. Most importantly, Amy finds ways busin ... more
I prepare QDRO’s and DRO’s. A QDRO (“Qualified Domestic Relations Order”) is a legal order, entered as part of a divorce or legal separation, that is required in order to split ownership of a retirement plan to give the divorced spouse his or her share of the asset or pension plan. A DRO (“Domestic Relations Order”) is the usual name for this document if a government pension is being split.
Most courts give parents the opportunity to work with independent evaluators soon after the case is filed to see if they can reach an agreement about custody, parenting time, money and property. The two types of ENE are: Financial ENE (FENE) to settle financial disputes and Social ENE (SENE) to settle custody and parenting time issues involving their children.
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