The holiday season will soon be upon us. This is a time of year that is filled with traditions such as holiday baking, special meals, gift giving, decorating, and gatherings of family and friends. As you reflect on the holidays you enjoyed as a youth, do memories of spending time with your grandparents make you smile?
Minnesota is a "no fault" divorce state, which means courts will not financially punish or reward a party when dividing assets and debts because of bad behavior during the marriage. Generally speaking, the courts will equitably divide the marital assets and liabilities between the parties. That means spouses need to understand what is marital property.