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Chaska Family Law Blog

Does mediation make sense in a high-asset divorce?

If you are thinking about divorce in Minnesota, you need to consider your options. If you and your soon-to-be-ex disagree about issues that may include property division, child custody, spousal support and more, you may be steeling yourself for the prospect of litigation.

For some divorcing couples, mediation can present a beneficial alternative. On the other hand, mediation can be counterproductive for some.

Getting through the holidays after divorce

After a difficult divorce, trying to be peaceful through the holidays can seem impossible. However, with the right preparation and mutual respect, newly divorced parents can get through this season while keeping their children happy.

Here are six tips for getting through the first holiday season after divorce.

How to deploy an asset investigation during a wealthy divorce

Blending two lives together in a marriage with a downpour of assets added into the mix creates a complicated divorce process. The greater number of shared assets, the more tempting it is for a spouse to cover-up portions of it. If you believe your spouse is hiding assets during a wealthy divorce, be prepared to launch a professional investigation.

The process of financial analysis starts by discussing with your attorney why you believe your partner may be hiding assets. Are there accounts that you vaguely remember hearing about in the past? Did you come across something suspicious, a notice or a statement of some kind? Write down all the possibilities and the amounts that may not be adding up to present to a team of professional asset investigators.

Keeping your emotions in check in a high-asset divorce

Divorces can be an emotionally draining period. Certain feelings can dominate a client’s mental state depending on what led to the divorce. These include feelings of anger or resentment at a partner, guilt for feeling like the marriage has failed, fear or uncertainty for the future, or event relief that an end is in sight.

While it is natural to have strong emotions during a divorce, it is vital to keep them in check when dealing with the distribution of assets, especially if it is a high-asset divorce, where these emotions can be even stronger because of the money or property involved. Before you go to court, it is important to check yourself for any strong reactions you might have against your ex. Failure to do so can result in any of these aggressive emotions to negatively impact your future business and retirement plans.

What happens to your business in a Minnesota divorce

Property division in a divorce can involve many complex issues. One type of complication occurs when a business is one of the assets potentially up for division according to Minnesota's equitable distribution rules.

For business owners, concerns about what will happen to the company can take priority over most other divorce issues. While there is no one-size-fits-all approach, knowing some general principles can help you understand this matter further.

Avoiding the pitfalls of social media on a high-asset divorce

One issue that often rears its head in high-asset divorces is social media. Many people in Scott and Carver counties are accustomed to sharing their every thought, action and feeling on Facebook, Twitter, Instagram and Snapchat. Whether you are preparing to go through a high-value divorce or in the middle of tedious battle, you might find it beneficial to watch what you say and share online. 

It may seem as if the only people who have anything to lose from oversharing details of their divorce on Facebook or Instagram are celebrities. Anyone who has a large following, especially high-asset couples, risk misinterpretation of their words resulting in negative effects on their divorce settlement. Here are a few things to consider about using social media during the divorce process

2 mistakes to avoid in high-asset divorces

Divorces in Carver and Scott counties involving high-asset individuals tend to be expensive because there are more assets, property and wealth to divide. It is often tricky for couples to agree on a settlement because their emotions are running high and the rules of marital property division for high-value divorces are more complex. 

You might feel like you are in the battle of your life as you fight for the settlement you feel you deserve. However, there are mistakes you should watch out for or you could end up compromising your post-divorce financial security. Here are two common pitfalls of high-value divorces to avoid. 

5 financial consequences of high-asset divorce

No matter how rich you are, divorce always hits hard on finances. How hard depends on the monetary worth of your divorce and how long the process lasts.

Those facing a high-asset divorce commonly experience the following five financial consequences. Some are out of your control, but some you can mitigate by taking proper action.

How to avoid the perils of unsolicited divorce advice

You may have friends and family in Carver and Scott Counties who have gone through a divorce, and they may offer you lots of unsolicited advice about yours. Even though you are in the process of filing, you might want to be careful about the kind of divorce advice you listen to and follow. Your loved ones may mean well, and some of their experiences may be similar to yours. But those are not good reasons for you to listen to their good intentions. 

Regardless of the similarities, you should not assume that what works for another person will undoubtedly work for you. You do not want to risk doing or saying something that can have an adverse impact on your situation. Here are some things you should consider about divorce advice. 

How prenuptial agreements work

Many couples use prenuptial or postnuptial agreements to set provisions in the event of a future divorce. Minnesota law generally enforces both kinds of agreements so long as they meet certain requirements.

A prenuptial, or antenuptial, agreement takes place before the marriage. Minnesota law sets out two broad requirements for a valid prenup.

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