Child Support & Dependency Exemptions

Taxes Can Be Fun?

Who Gets To Claim The Kids After The Divorce? It’s not uncommon for there to be some dispute about who gets to claim the children for tax purposes.  Over the years I have heard many myths about who gets to claim what for taxes, some people think it’s automatically split equally, others say that if you pay child support you get to claim the kids every year, both of these are only partially correct. First, let’s look at the IRS regulations.  The Internal Revenue Code 152(c)(3)(a) says that the custodial parent gets to claim the child unless the parent “affirmatively …

Collaborative Divorce In Minnesota

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Collaborative Divorce Procedure – The answer to all your issues? What is divorce? It’s similar to an amputation: you endure it, but there’s less of you. End of a marriage can take a heavy toll on your emotional as well as financial health. Getting separated from your spouse could be a traumatic experience even if you’ve started off with the procedure. Uncertainty about your financial future and repentance regarding your past can leave you feeling lonely and frazzled. Although an important part of your life is coming to an end, you need to stay focused for making the most of your fresh …

Recovering Attorney Fees in a Minnesota Divorce

Tired of paying for the “pleasure” of divorcing? Recovering Attorney Fees in a Minnesota Divorce For a variety of reasons, most states in America follow what is called the American Rule regarding the payment of each party’s attorney fees in litigation:  Which means each party must pay their own attorney fees.  This is in contrast to the English Rule, which generally requires the losing party to pay the winning party’s attorney fees.  The American Rule, however, can bring hours of frustration (and a huge expense) when your ex makes yet another motion seeking to be awarded some obscure item of …

Dividing Credit Cards During Divorce

Credit cards – Dividing the debts during divorce Dividing the credit card debt during divorce does not include a simple procedure. It depends on the laws of the state. This can lead to even increased bitterness between the two of you. So, it is always better to either pay off the debts of your own before filing for divorce, or divide the responsibility of paying off debts between the two of you. You can opt for a credit card consolidation in order to pay down the debts before divorce, if there are too many. Dividing credit card debt in divorce …

What If You Can’t Afford A Divorce (Lawyer)?

With the economy down lately it’s fairly common I get a several calls during a week from people seeking a divorce, but they say they can’t afford it and just want a few tips. I have to say I always chuckle and think what other profession can you call up and hope to get a few tips, for free? I normally chat for 15 minutes or so and consider it part of my pro bono duty for the week. But, it does lead into a more serious question and that is, what can a person possibly hope to learn in …

Forensic Accountants: A Necessity During Divorce?

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 Forensic Accountants: A Necessity During Divorce?  Though reasons for divorcing may vary, there are several common recurrent topics amid most divorces. Aside from the stress and money involved, there is often the feeling that one person is getting a better deal than the other. Often this feeling stems from financial inequality in the marriage where one person may have earned significantly more than the other. While one partner may have earned less income, s/he may also feel that personal contributions added up significantly during the length of the marriage and that s/he is due some form of compensation for working …

Lowering Your Costs In A Minnesota Divorce

Saving Money During A Divorce! Even though I make my living as a divorce lawyer I am big believer that your divorce shouldn’t cost any more than it needs to! I recently read a good blog post by a Florida Divorce Lawyer who has the same idea, keeping costs reasonable for clients. Reading that post made me think I should tell my readers about some of my money-saving tips for a divorce. Although I’ve written on this topic before (money-saving tips for your divorce) I think it’s important to take another look. Get and Stay Organized: It’s very important to get …

How Can I Save Money On My Divorce? (secret contained below!)

Lowering divorce costs

Divorce On The Cheap In Minnesota Your relationship with your spouse has hit the point of no return, and you know you can’t work it out.  A divorce is looming.   But the last thing you want to spend your hard-earned money on is a divorce!  How can you keep costs down to reduce the negative impact of an already painful time in your life? First, keep in mind that there are good ways to save money during a divorce and bad ways to save money during a divorce.  That is, not all cost-saving is beneficial to you, even if it …

How Do I Divide A 401k During My Divorce? (Hint: it’s a QDRO!)

How Do I Divide A 401k During My Divorce?  (Hint: it’s a QDRO!)

A QDRO is short for a Qualified Domestic Relations Order. This is an order that allows you transfer either portions or a whole retirement account between you and your spouse without either 1) the taxes being paid upon transfer and 2) penalty free. It’s very common in Minnesota Divorces to do a QDRO (Hint: we divorce lawyers typically pronounce it as one word a QWAD-RO), but this little beauty is often not talked about very often and many people going through a divorce don’t really understand the mechanism of how retirement money will be divided. My goal is to pull …

Costs Involved in Minnesota Child Custody Litigation

Costs Involved in Minnesota Child Custody Litigation Nobody wants to have to draw up a budget plan for their effort to get custody of their child.  In fact, nobody wants to have to pay to get custody of his or her child.  However, the reality is that having a good lawyer who can advocate strongly on your behalf will make it much more likely that you’ll win that custody battle.  And the other reality is that the whole court process, including having a good lawyer to represent you, costs money, a lot of money.  You need to arm yourself with …