Property Division

Protecting Your Financial Interests During Divorce

An important piece of a divorce is the division of marital property and debt. Whether you have significant assets, own a family business, have retirement accounts, or simply want to make sure your financial interests are protected, understanding how property is divided in Minnesota is essential.

At Frago & Lasswell, P.A., our attorneys help clients resolve property division issues through negotiation, Mediation, or Collaborative Divorce. We work to achieve fair and practical solutions that reflect each client’s unique financial circumstances.

How Is Property Divided in Minnesota?

Although Minnesota is an equitable distribution state, and courts may divide property equitably but unequally, the most common outcome is an equal division of marital assets and debts. The court considers a variety of factors when determining how assets and debts are divided.

What Property Can Be Divided?

Property division may include:

  • Marital homes and other real estate
  • Bank accounts and investments
  • Retirement accounts and pensions
  • Businesses and professional practices
  • Vehicles and personal property
  • Credit card balances and other debts

Every divorce is different, and some assets may require additional valuation or financial analysis before they can be divided.

Reaching an Equitable Resolution

Many property division issues can be resolved without going to court. Through Mediation, Collaborative Divorce, or settlement negotiations, spouses often have greater flexibility to create agreements that meet their financial goals while avoiding the cost and uncertainty of litigation.

Protect Your Financial Future

The decisions you make during your divorce can affect your financial future for years to come. Frago & Lasswell, P.A., can explain your legal options, answer your questions, and help you pursue a fair resolution that protects your interests.

To schedule a consultation, call 507-663-7998 or contact us online.

Frequently Asked Questions

Marital property generally includes assets and debts acquired during the marriage. Nonmarital property may include certain assets acquired before the marriage or through inheritance or gifts. Determining whether property is marital or nonmarital can sometimes be complex.

No. Equitable distribution means the court seeks a fair division of marital property, which is often, but not always, a 50/50 split.

Retirement accounts may be considered marital property to the extent they were accumulated during the marriage. Depending on the type of account, additional legal documents may be required to divide retirement benefits.

Yes. Many couples resolve property division through Mediation, Collaborative Divorce, or Negotiated Settlement Agreements, allowing them to retain greater control over the outcome.