A Farm Divorce Can Be Complicated. Let Me Help.

Any divorce can be complex, but a farm divorce has even more things that you must consider. Dividing the assets is a lengthy process and typically involves the use of experts in valuing the farm and its assets. 

Even if you think that your divorce will be straightforward, you should work with a lawyer who knows the special considerations of a Winona farm divorce. At Van Beek Law, LLC, I have helped many people divide a Minnesota farm in divorce. You can count on my family law experience. I have been an attorney for nearly 15 years. 

Dividing The Family Farm

There are many aspects of a farm that need to be valued before there is a property division decision, including:

• Land and its agricultural value
• Buildings and other structures
• Livestock
• Equipment
• Vehicles

Experts and appraisers will assess and value these assets. They will also look at the mortgages and other debts associated with the farm. This is an important part of a farm divorce because the debt usually goes to the person who keeps the farm, if it is awarded to one party.

Marital Assets And Equitable Division Of Assets

Standard marital assets such as the home, personal vehicles, bank accounts, investments and retirement accounts will also be divided according to Minnesota law, which follows equitable division. Under this law, marital property should be split fairly between the couple. 

With family farms, however, one person may want to keep the farm. If they inherited it or purchased it from a family member prior to the marriage, it is likely nonmarital property. This means it would not be divided in the divorce. It’s important to determine this as soon as possible because it will have an enormous effect on property division.

Let’s Talk Today About Divorcing With A Farm

Call me at 507-299-2393 or send an email. I can protect your interests and ensure you receive the assets you’re entitled to.