How couples can divide retirement accounts during divorce
Van Beek Law, LLC Blog
by gturnercontentcustoms
2w ago
Many people recognize that divorce could lead to financial instability. The divorce process itself can be expensive, and people have to arrange to divide their resources with a spouse. People considering divorce often worry about whether the end of a marriage might lead to a drop in their standard of living. Those nearing retirement age are often particularly anxious about the potential impact that divorce could have on their finances. Retirement savings are crucial, as Social Security retirement benefits typically do not provide enough for the comfort of older adults. What must couples do to ..read more
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Why should you establish accounts in your name during divorce?
Van Beek Law, LLC Blog
by gturnercontentcustoms
2M ago
Divorce can be one of the most challenging periods in a person’s life. It inspires a host of emotional, legal and financial complexities. In Minnesota, as in many other jurisdictions, the division of assets plays a critical role in the divorce process. If your marriage is ending, know that one important task you must complete before your divorce is finalized involves establishing personal financial accounts Financial independence and clarity Establishing your own financial accounts is a crucial step towards achieving financial independence post-divorce. It allows you complete control over your ..read more
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How long does an obligation to pay child support last?
Van Beek Law, LLC Blog
by jerricraventextbroker
5M ago
Many Minnesota residents are parents who are divorced. One of the major concerns for them after their split is child support; while one parent receives payments on behalf of their children, the other must pay. No matter which side of this support you’re on, it’s crucial to know how long the obligation lasts. Understanding child support Child support is meant to go toward the financial care of a child after a divorce or a breakup between unmarried parents. It’s intended to provide basic support for the child to ensure they have food, clothing and housing. Child support also pays for a child’s e ..read more
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Understanding Title IX investigations in Minnesota
Van Beek Law, LLC Blog
by jerricraventextbroker
9M ago
Title IX is a groundbreaking civil rights law that Congress enacted in 1972. It requires all federally funded educational institutions in Minnesota and the rest of the country to provide equal opportunities for both male and female students. This includes prohibiting discrimination, harassment, assault or other forms of sexual misconduct. The investigation process When a student reports an incident of discrimination or harassment on campus, the school must begin an investigation into the claims. School administrators must process all complaints they receive and provide due process to both part ..read more
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The impact of a DWI on your driving privileges
Van Beek Law, LLC Blog
by jerricraventextbroker
11M ago
Driving while impaired, also known as driving while intoxicated (DWI) is a serious driving offense in Minnesota that can have severe consequences, not only in terms of legal penalties but also in relation to your driving privileges. A DWI conviction can result in administrative actions and restrictions on your ability to drive and understanding how this offense affects you is essential in navigating the aftermath. License suspension or revocation One of the immediate consequences of a DWI conviction is the suspension or revocation of your driver’s license. The length of the suspension or revoc ..read more
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Dividing a home after a divorce
Van Beek Law, LLC Blog
by jerricraventextbroker
1y ago
Divorce in Minnesota, and everywhere else, is a complex legal process that can significantly impact various aspects of a couple’s lives, including their finances, property and children. One of the most significant assets that must be divided in a divorce is the marital home. Understanding what happens to the house when a couple divorces is essential for making informed decisions and ensuring a fair and equitable outcome. Division of marital property During a divorce, all marital property is typically divided between the two parties. Marital property generally includes any assets acquired durin ..read more
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Financial concerns in divorce
Van Beek Law, LLC Blog
by jerricraventextbroker
1y ago
Divorce in Minnesota, and elsewhere, can be emotionally charged and complex. Whether a couple has been married for a short period of time or has been together for decades, there are several financial concerns that they must consider before proceeding with a divorce. Asset division One of the most significant financial concerns that couples face during divorce is how to divide their assets. This includes not just property and savings, but also investments, retirement accounts and other valuables. If the couple cannot agree on how to divide their assets, a court may need to intervene, and this c ..read more
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Estate planning documents to revisit after a divorce in Minnesota
Van Beek Law, LLC Blog
by jerricraventextbroker
1y ago
Divorce in Minnesota is a process that affects almost every single aspect of your life, including your legacy. Considering that you came together as one before the law while marrying, your documents and accounts were also joint and will continue to be so unless you take the needed steps to change that. Revoke your will and create a new one You will need to tear your current will up, contact your estate planning attorney, and draft a new will that reflects the new circumstances of your life. And if you don’t have a will, this is the time to create one. If you die with your previous will still v ..read more
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What is a collaborative divorce?
Van Beek Law, LLC Blog
by jerricraventextbroker
1y ago
Popular culture often presents drawn-out court battles between divorcing couples, and people watching such depictions might think the dramatizations reflect the average divorce. An alternative certainly exists for Minnesota residents. Divorce settlements could involve both spouses negotiating the terms of the dissolution. Settlements may provide an amicable way for the spouses to divorce and to divide assets. Exploring the collaborative divorce process Divorcing spouses may benefit from learning that a “collaborative divorce” is possible. Attorneys for both spouses could handle negotiations be ..read more
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5 mistakes people make in divorce
Van Beek Law, LLC Blog
by monte.olmsted@thomsonreuters.com
1y ago
Self-preservation is a crucial aspect for anyone going through a divorce. When splitting from your spouse, you must protect yourself financially and psychologically. One way to do that is to avoid making mistakes during the divorce process. Some people think they can go it alone without the aid of an attorney. That is not a good idea. Others fail to take control of their divorce. These are just some of the mistakes that may happen. Agreeing to a one-sided settlement Here are five mistakes that some people commit during divorce: Failing to retain an attorney: Seek the guidance of a qualified an ..read more
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