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Financial Matters In Divorce

Sometimes when facing divorce, once the parties figure out custody and parenting time issues, the remaining issues seem to take care of themselves.

However, some parties have a number of complex and difficult financial issues, like large debts, a variety of assets, or business ownership interests. Still others have accumulated unique assets like original artworks, antiques, or valuable collectibles. When financial issues can’t be decided by the parties, where do they turn?

For help in deciding complex and difficult financial issues, one option is a Financial Early Neutral Evaluation (FENE).

A FENE is held with an evaluator, someone who is a highly-skilled attorney or accountant with an extensive working knowledge of property issues addressed within Minnesota family law. These evaluators have generally worked with the courts long enough to have a very good feel for how a judge is likely to decide regarding your property issues. While your evaluator is not able to predict exactly how the judge will decide in your particular case, he or she can assist you in determining what property is marital or non-marital, give you creative options for handling various pay-outs such as spousal maintenance or the division of a 401k, and even keep you grounded when the stress of the divorce has you spending attorney’s fees to insist upon relatively worthless and easily-replaced items.

If your family law matter involves a divorce and you’re concerned about the division of assets or other financial issues, you need representation to guide you through the process.

What is an Initial Case Management Conference (ICMC) Anyway?

Unless you’ve been on jury duty or gone to court to fight a traffic ticket, you’re probably one of the majority of Minnesotans who’ve never had any contact with the courts, the court process, or even seen the inside of a courtroom. So when your Minnesota Family Law attorney tells you there is an ICMC scheduled in your case, it’s likely you’re also one of the many who start getting nervous. After all, it’s natural to be apprehensive of the unknown.

Well, the first thing you need to know is that an Initial Case Management Conference (ICMC) is nothing to be worried or stressed out about. When you begin a family law case dealing with divorce, child custody, parenting time or paternity, it’s common for the judicial officer assigned to your case to begin with an ICMC. But, what exactly is an ICMC?

We will tell you it’s an informal meet-and-greet road-mapping session with the judge or referee assigned to your case. It’s a way for the judicial officer to get to know a little bit about the parties in the case, look over what’s being requested, and make the parties aware of various methods of alternative dispute resolution from which they can select to reach resolution of the case.

If you have a family law matter and would like representation to guide you through the process, contact us.

When to Consider a Prenuptial Agreement

Prenuptial agreements are not an easy topic to discuss with a future spouse; however it’s important not to forget that marriage also constitutes a legal contract. In the unfortunate event of a divorce, it will potentially be up to a judge, who doesn’t know you or your family, to decide how shared assets and debt are divided. In this blog post we have highlighted several things to consider when deciding whether or not a prenuptial agreement is the right decision.

Income Differences – A substantial difference in income between the two parties is often a common reason for considering a premarital agreement.
Property Ownership – Property owned by a spouse prior to marriage could become jointly owned through marriage if not properly protected in a Prenuptial Agreement.
Children from A Prior Marriage – There may be children from a prior marriage that need to be financially taken care of in the future.
Financial Debt – Debt owed prior to the marriage by one party can become a shared responsibility through marriage. If there is a substantial amount of debt by one spouse, then it may be a good decision to address this issue before marriage.

At Butler & Allen, P.A. we have experience helping families plan for their future financial security. For more information about how we can help your family too, contact our MN Family Law Firm today.

How to Share Parenting Time After a Divorce

Deciding how you will share your child’s time between parents is one of the first things most parents think about after a divorce is contemplated. It seems like a simple enough question but there really is a lot to consider. Start by considering your child’s needs and use that to help guide your decisions. Next review the questions below with the other parent to help you better plan your parenting time schedule.

Where will your child live and go to school?
Is this the home he/she will continue to have as her primary residence?
What is the time breakdown for your child and each parent?
What schedule works best for your child?
What schedule works best for each parent?
Where will each parent live/What if the other parent lives in a different geographical location?
Who will be providing the transportation?
Where will your child spend vacations, holidays, and special events?
What holidays will your child celebrate?
Do you want your child to participate in certain cultural events?
How will your child’s time off from school be spent?
In what way and how far in advance will you communicate with the other parent about special events or vacations?
Who will be the physician?

There is a lot to consider when deciding how to allocate time between parents. But, if you discuss these items in advance, and have a plan going in, it could save you a huge headache down the road.

This divorce and parenting legal advice was brought to you by our MN Family Law Lawyers .

Mandated Parent Education in Minnesota

When filing for a divorce in Minnesota, you are required to attend an education program. The class “Parents Forever” is offered through the University of Minnesota Extension and you can find the class listings here. The classes are available throughout the metro area and range in price from $50-$90.

These classes are designed to give the parents tools to help their children through the divorce. The class teaches parents about the impact of divorce on children and how as a family you can find an agreeable way to move forward with your lives. More information on the “Parents Forever” program can be found at their website here.

At Wolf, Rohr, Gemberling and Allen P.A. we want to work with your family to find the best resolution and to make sure both parties are compliant in divorce requirements, such as parent education classes. Contact us today to learn more about our Family Law Attorneys and get a consultation.

Parenting Styles Part II: How to Incorporate Positive Parenting Techniques

As indicated in the previous post, utilizing a Positive parenting style is integral in helping your children build more self-confidence, increase social skills, and perform better in school. If you realized you were using one of the other parenting styles and want to know how to transition into a Positive Parenting style below are some ideas. If you are not doing these, maybe it’s time to re-evaluate and incorporate some, if not all, of these tactics. Continue reading “Parenting Styles Part II: How to Incorporate Positive Parenting Techniques”

What Kind of Parent are You?

Everyone has a different approach to parenting. How you decide to parent your child can come from a combination of factors, but mainly your parenting style comes from how you were raised. There are four basic parenting styles.

Knowing which one you use can help you to understand why you react certain ways and how each action can positively or negatively affect your child. Likewise, knowing your spouse’s parenting style will help you recognize how they approach situations.

Whether you are married or divorced it is helpful to understand which styles of parenting your children are receiving from each parent. Continue reading “What Kind of Parent are You?”

What to Consider for Each Age Group When Raising a Child

Every child is affected differently by divorce and their needs can heavily depend on their age. It’s important to know what the basic needs are for each age group, what can help them cope, and what situations the child may be facing at that age. Age groups can be classified into four categories: infants and toddlers, preschoolers, elementary middle-schoolers, and adolescents. Continue reading “What to Consider for Each Age Group When Raising a Child”