As many in Minnesota know all too well, divorces can happen to all kinds of people and all kinds of marriages. Still, while divorces are rarely easy, for some couples divorces can be more complicated and time-consuming than for others.
Recently, the activist and filmmaker Michael Moore filed for divorce from Kathleen Glynn. The two had been married for almost 22 years, and had reportedly been a couple for 10 years before that. Glynn has been listed as a producer on Moore’s films for decades, including the Academy Award-winning “Bowling for Columbine” in 2002.
When a Minnesota couple decides to end their marriage, they must list all their assets and split up their marital property in a way that meets the standards of fairness under state law. Often, this means splitting their assets 50-50, but even that arrangement can be much harder to accomplish than it may seem.
Couples with a high net worth often have complex assets such as retirement accounts, investment portfolios or ownership in a business. These assets may have been listed in one partner’s name, but they may still be counted as marital property. When the partners have worked together on projects or businesses, it can be difficult to determine how to best divide their shares of that asset.
Married Minnesota residents who are considering divorce should be prepared for the property division process to take time and effort. It’s a good idea to begin gathering documentation of assets before filing for divorce, if possible. Property division, like many stages of a divorce, can be uncomfortable and contentious. However, when the parties come to the negotiating table prepared, they can help reduce the tension and get things done so that they can move on to begin their new lives apart.
Source: CBS News, “Michael Moore files for divorce from Kathleen Glynn after 21 years,” July 22, 2013