Coon Rapids Divorce Attorney
Property division is a necessary part of divorce whether the divorce is contested or uncontested. It can also be one of the most difficult aspects of the divorce because it has to be determined which pieces of property go to which party and who pays the debts. This is an area where a lot of conflict can occur. If the parties can not agree, then the judge could possibly decide for them.
If you are facing divorce, property and debt division is something that you will have to contend with. To make the process as easy as possible, it is best to have an experienced divorce lawyer by your side every step of the way so that it moves along as smoothly as possible.
Determining Divisible Property And Debt
First, it has to be determined what is marital property and what is non-marital property. The same applies to debt. Anything that was acquired during the marital relationship is considered marital. It doesn’t matter whether the property or debt was held individually or jointly. Non-marital is property or debt that was acquired before the marriage or under other circumstances, such as:
- As a gift from a third party or as part of an inheritance made to one spouse and not the other
- Acquired after the valuation date
- The property or debt is excluded as part of a valid prenuptial agreement
If you are making a claim that a piece of property is non-marital property, then you have the burden of proving that the property or debt is non-marital. The same rule applies to the other party.
Effective Legal Guidance
Before dividing the property, assets are assigned value whether by an appraiser or otherwise and each party will receive a portion of the value. It is best for the parties to come to an agreement concerning the division of their property. It is more cost efficient to resolve this issue at mediation and prior to trial.
Contact A Coon Rapids Divorce Attorney
Mary Baskfield is a Coons Rapid attorney who specializes in divorce and family law matters. To learn more about how she can help you in your divorce, call 763-300-6054 for a free consultation.