What is non-marital property in Minnesota?

Edina, MN Family Law Attorney, Jane Van Valkenburg describes what non-marital property is in the state of Minnesota.

Contact Jane Van Valkenburg

Phone: (952) 204-5237

Transcript:

Non-marital property is something you’ve inherited, so you got an inheritance and that money has been set aside, and the growth on that money is considered as marital. It’s technical. There’s considered passive growth, active growth. That’s something you want to talk to an attorney about ’cause it gets very complicated. You also can have money that you brought into the marriage. So someone gets married and they’ve got some money. They put it into a house. The house appreciates. That money can be considered as non-marital, something we call “non-marital tracing.” The person who’s got the non-marital claim is the one who needs to do that tracing, but there are steps that need to be done, but you’ve got to have good records. If that person brought money in and put it into an account, same thing. It’s gotta be traced, but the law’s very clear on how to handle it.