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Minnesota Business Owner Divorce Blog

What can I expect in a divorce?

One life event that you likely did not see coming is a divorce. You married your spouse with the intent to separate when you die. But at some point in your lives, you both changed, and the feelings you once had for each other are no more. 

Divorces are never easy. If you are not prepared for one, you may become stressed out trying to keep up with all the changes that are going to happen. Once the process starts, there is no turning back. Take some time to learn what to expect during your divorce so you can take measures to prepare yourself and improve the outcome. 

3 assets that may be most vulnerable in a divorce

There are a number of concerns that arise for any couple going through a divorce. If you have kids, you will be understandably concerned about custody arrangements. If you have a business, you want to make sure that it does not suffer as a result of the end of your marriage. The latter of these is one of the most common property division issues that face high-asset divorcees.

You should be aware of the assets that are likely to be most vulnerable in a divorce. Whether or not you have a pre- or postnuptial agreement in place, it is advisable to attain legal representation, too, to help you navigate the complexities of asset retention as well as the other issues you will face in a divorce. 

Make your business a success and secure your future

When you start a small business you have a lot of important details to consider. According to a LinkedIn report, there is nearly a 1 in 2 chance that a start-up will go out of business within five years. Your business will be your livelihood. That number can be nerve wracking. You want your business to be successful. The goal is to secure your future. You want to be a successful owner and boss.

These best practices can help:

Will my prenup hold up in court? 6 questions to ask.

Determining whether or not your prenuptial agreement will stand up in court is not complicated if you take time in advance to make sure it follows some important guidelines. The first, and most important, thing to remember is that the agreement needs to be in writing and it needs to be notarized. In addition to this major requirement, the courts will need to determine the following facts.

Can I protect my business from my spouse?

Horror stories abound of individuals who have spent years building up a profitable business losing it all during a divorce. Courts look at a lot of things when deciding how to divide property, and even though you may have owned your business before you got married, you may face having to divide it along with your other assets.

Nobody plans on their marriage ending in a divorce. When it comes to something large, like your business, you will ideally have protections in place before going into the marriage. If you don't, hope is not lost. It just will require more planning. Here are four ways you can avoid losing it all.

The difference between separate and marital property

The difference between separate and marital property

Determining who gets what share of the property and assets after divorce is critical. A key component to this process is to first determine which property is marital and which is separate. But how does court decide? Here are some general criteria so you understand what to expect.

Small business owners divorcing in Minnesota. Who gets what?

Property division is one of the more stressful aspects of divorce, especially if you own a small business. You know divorce is the best option but are afraid of what's going to happen to your business. Will your spouse get half the company in the divorce? If you're the sole owner of the company, is it considered separate property?

More Men are Winning Divorce Disputes in Court Today

When a couple goes through a divorce, there are several stereotypes that people have about the process. The assets need to be divided evenly. Any issues regarding children need to be ironed out. Many people also believe that the husband will need to pay a certain amount of alimony or child support to the wife because the husband is usually the breadwinner in the family and the wife will not be able to support herself once the family breaks apart.

Over the past few decades, trends related to spousal support and wife-dominated property division settlements have starting to shift. Changes in the demographics of the American family, the portrayal of families in popular culture and the evolution of legal arguments has led to an increasing number of men "winning" their contested divorce disputes

For effective representation on a wide range of legal issues, turn to Hajek & Beauclaire LLC, for representation that always puts your interests first.

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