The divorce rate usually happens to between 40 and 50% of all marriages. It is lower in some states than others, such as Minnesota. The state has one of the lowest stress rates in the country, which likely contributes to its lower divorce rate.
Any couples going into divorce need to debunk some common myths before getting too far along. For example, many couples assume the court will divide all assets in an even split. However, that is not always the case. While some states call for an equal distribution of property, Minnesota is not one of them. Minnesota calls for an equitable division of assets, which means divorce is not always 50/50. This means each spouse walks away from the marriage with property the court deemed fair considering all circumstances.
What factors does a court consider?
A judge will consider various points to determine who should get what after a marriage ends. The judge will look at the duration of the marriage, earning capacity of both spouses and the health and age of each party. The judge also looks at what both spouses brought to the marriage and whether one spouse served as a homemaker. It is a far more nuanced approach than simply dividing everything equally. The formula can vary from one divorce to the next, so every couple’s result will be different.
How can you mitigate damage from an equitable division?
With this type of division, the distribution may not seem fair to one or both spouses. Fortunately, both parties can take steps to walk away satisfied. Many couples can benefit from going through mediation first, so they can discuss what is fair before going to court. It is also important for both spouses to go into the divorce truthfully. Any attempt to hide assets can make a judge side more in the other spouse’s favor.