Categorized: Finances

The Bezos Divorce: A Lesson Learned

Posted on Tuesday, July 16th, 2019 by Marc Beyer and is filed under Divorce, Finances, Marriage, Mediation.

Following a 25-year marriage, Jeff and MacKenzie Bezos divorced earlier this year. As the Founder and CEO of Amazon, Jeff is the richest man in the world. The divorce settlement gave MacKenzie $35.7 billion worth of shares in Amazon, making her the world’s 4th richest woman. According to MacKenzie’s Twitter post: “Grateful to have finished… Read more »

Are Lottery Winnings Split with an Ex-Spouse?

Posted on Saturday, June 22nd, 2019 by Marc Beyer and is filed under Divorce, Finances, Life, Minnesota.

A man from Michigan made the news recently when he was ordered to share his $80 million lottery jackpot with his ex-wife. That’s what all the headlines said anyway. But the headlines were misleading. The man filed for divorce in 2011 (when the parties physically separated), won the jackpot in 2013, but the divorce wasn’t… Read more »

A Lesson from Child Support Court: “Pull No Punches”

Posted on Tuesday, August 21st, 2018 by Tim Simonson and is filed under Child Support, Finances, Minnesota.

Minnesota Child Support Law mandates that child support is determined primarily by the parents’ incomes. Because income is so important to a court when figuring out a child support obligation, some parents have tried being “less than candid” when reporting income to the court.  The intent of this strategy, not surprisingly, is to end up… Read more »

Paying Off Your Spouse’s Premarital Debt

Posted on Tuesday, April 24th, 2018 by Marc Beyer and is filed under Debt, Divorce, Finances.

Let’s say that when you get married, your spouse has $10,000 in credit card debt. You have some savings built up, so when you get married, you decide to use some of your premarital savings and pay off the debt. This lessens your spouse’s debt load, and of course helps with the budget. The minimum… Read more »

LIFE INSURANCE TO SECURE SPOUSAL MAINTENANCE OR CHILD SUPPORT; DON’T TAKE IT LIGHTLY

Posted on Tuesday, April 10th, 2018 by Tim Simonson and is filed under Divorce, Finances, Life, Life Insurance.

Recently the Court of Appeals was asked by a surviving ex-wife to award life insurance proceeds to herself and children, which her ex-husband, before he died, elected go to his fiancé instead. When husband and wife were divorced, husband agreed to have life insurance in place to cover his maintenance and child support obligations. After… Read more »

Who Claims The Kids? The Riddle of Claiming Tax Dependency Exemption

Posted on Tuesday, April 11th, 2017 by Tim Simonson and is filed under Children, Divorce, Finances, Marriage, Minnesota, Taxes.

If you’re a parent, and you’ve filed taxes, you’re probably aware that the US tax code permits a taxpayer to claim an exemption for each of his or her dependents. 26 U.S.C. § 151. And, if you are a divorced or separated parent, you may know that if you who had the kids living with… Read more »

Financial Infidelity

Posted on Wednesday, February 22nd, 2017 by Marc Beyer and is filed under Divorce, Finances, Marriage.

KARE-11 recently did a series on what they called “financial infidelity.” We linked one of the pieces to our Facebook page. By financial infidelity, KARE-11 is referring to situations where one spouse spends significant money behind the other spouse’s back. As a divorce lawyer, I see this all the time, so I thought I’d weigh… Read more »