While many Minnesota viewers have watched Christina and Tarek El Moussa rebuild homes on their reality television show "Flip or Flop", the couple's marriage has fallen into disrepair. With divorce on the horizon, their assets that total approximately $4 million will...
High Asset Divorce
Divorce could cost $1 billion or more
As many Minnesota estranged couples can attest, divorce has the potential to be rather expensive. Donald Trump's first wife received $25 million in cash plus a $14 million estate in a divorce settlement. His second wife received just over $2 million as per their...
Property division and college savings accounts
Property division can be one of the most challenging aspects of a Minnesota divorce, especially when large assets are involved. Parents with substantial funds often make it a point to save aggressively for the college costs their children will face, especially if...
Social Security spousal benefits and divorce
More Minnesota couples are getting divorced later in life when Social Security retirement benefits are a pertinent issue. Although the rules that govern Social Security benefits are complicated, most married people are aware that a lower-earning spouse can claim...
Why planning for the possibility of divorce is important
It is practical for Minnesota couples to financially plan as if their marriages might end. While this may be an uncomfortable task, having a strategy in place to make certain each spouse will be financially okay if a divorce happens can help both to move forward. In...
The financial ramifications of a divorce
Minnesota couples whose marriages are crumbling may need to take steps to protect themselves from the potential financial devastation of a divorce. On average, it may cost $15,000 to $20,000 for legal and other professional fees alone. People who divorce may need to...
Separate tax returns could make sense during a divorce dispute
As a general rule, married couples filing their income tax returns jointly instead of separately might be able to reduce their federal tax obligation. Minnesota couples might also save on the taxes they owe to the state. There could, however, be other factors, such as...
Couple facing media attention in high asset divorce
Getting a high asset divorce can be difficult, but having that divorce reported about in the media has got to be absolutely awful. Two people who are experiencing this are Nader and Jibil Kazeminy. They are originally from Iran and left the country during the 2008...