Getting Divorced When You Own a Farm: Special Considerations

If you’re one of Minnesota’s nearly 80,000 farmers, you face unique joys and challenges in all aspects of life — including marriage and divorce. While there’s no such thing as an easy divorce, the process can be particularly complicated when shared agricultural property and equipment are at stake. Keep the following considerations in mind as you proceed: Valuing the Property Property valuation is an integral component of any divorce. Unfortunately, farms and ranch values are uniquely difficult to pinpoint. A farm’s value includes not only real estate, but also equipment, livestock, and more. Because valuation is so complicated, each spouse often relies on a separate appraiser. Dividing Debts FarmFutures reports a five percent annual increase in farm debt since 2004. Dividing that debt can be complicated, particularly if one spouse was involved in the farming business before marriage. Equitable Distribution and Separate Versus Married Property As in…

Read more detail on Recent Family Law posts –

Legal notice about the Getting Divorced When You Own a Farm: Special Considerations rubric : Hukuki Net Legal News is not responsible for the privacy statements or other content from Web sites outside of the Hukuki.net site. Please refer the progenitor link to check the legal entity of this resource hereinabove.

Do you need High Quality Legal documents or forms related to Getting Divorced When You Own a Farm: Special Considerations?

This entry was posted in Divorce Law and tagged , , , , . Bookmark the permalink.

Leave a Reply