An Accurate Evaluation Is Necessary
There are two types of property: marital and separate. The separate property of a spouse remains separate after the divorce with a few exceptions. Only the marital property or the marital interest in the separate property is divided, and it is divided in a manner that is “fair and equitable.” It may be difficult to determine what is fair and equitable, but the presumption is that equal is fair, absent a reason for an unequal division.
Why A Tracing Process Might Be Needed
Where property is separate in part and marital in part, a tracing process is required to allocate the interests and value the marital interests. This can be complicated especially in cases where one spouse owned a business before marriage and marital property efforts changed its value.
The same can be true of real property, and the courts approach those assets and their allocation with a tracing process. This process can sometimes be complex, and it may involve the use of experts including business valuators and accountants. At Kaer Law, P.C., I provide full-service family law and divorce representation as well as limited scope services.
Work With A Proven Legal Team
I am family law attorney Diane Kaer. Throughout more than 35 years of practicing law, I have handled a number of complex divorce proceedings involving complicated property divisions and tracing issues. I will thoroughly answer any questions you may have over the division of property. Contact me today at Kaer Law, P.C., by calling (952) 432-4131. You can also email me at any time.
As a firm that has handled hundreds of cases, and is licensed in both Minnesota and California, I am able to support other attorneys and firms in interstate or complex divorce issues.