financial support for yourself & your family


Financial support is one of the more critical factors that allows a person or a family to move forward and to have some peace of mind knowing that their expenses or the expenses of raising their children will be met, or that their estate is in order.

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  • Under MN law, a child has the right to be financially supported by both parents.

    Child support may be ordered by the court in custody, parenting time, and paternity matters involving minor children. Child support is intended to assist the parents with the basic living expenses, work-related childcare, and medical expenses of the children.

    In Minnesota, Child Support is determined by a formula calculated by Minnesota Child Support Guidelines. The formula considers several factors when determining the amount of child support, including the number of children, gross incomes of each parent, childcare and health care costs and the regular overnight parenting time schedule for the parents. Based upon the circumstances of each family, a court can order a deviation from the formulated child support amount.

    CHILD SUPPORT MODIFICATION

    Child support can be modified when the existing obligation becomes unreasonable or unfair, according to Minnesota Statute § 518A.39 subd. 2(a). During the initial consultation, our attorney will explain the factors for demonstrating how the current support obligation is unreasonable or unfair. This information will help you decide whether or not you want to move forward.

    Our firm is experienced in both enforcement of court-ordered child support and modifications of child support when employment earnings, or other financial or childcare factors, of one parent has changed.

  • Money paid by one spouse to help support the other spouse (formerly called alimony).

    Spousal maintenance, also referred to as spousal support or alimony, is the financial support one spouse pays to the other. Spousal maintenance can be temporary or permanent. In Minnesota, no specific formula determines the amount or duration for which spousal support is paid. However, Minnesota law has determined some factors which a court may consider when determining the appropriate amount and duration, if any, of spousal support in each case.

    Some of these factors include:

    The financial need of each party

    The earning capacity of each party

    If the financial need of a party can be overcome, and how long it might take to do so

    Whether the potential payor has the means to pay spousal maintenance

    Length of the marriage

    The quality of life enjoyed by the parties during their marriage

    Ages of the parties

    MODIFYING SPOUSAL SUPPORT

    Modifying spousal support is no easy feat, however there are several reasons why this type of action may be possible, some of which include change of income, health, or relationships.

    Other factors impacting the ability to modify spousal support are nuptial agreements or the existence of a Karon waiver with the existing court order.

    A Karon waiver, a term used in Minnesota divorce law is based upon the legal precedent set in Karon v. Karon, 435 N.W.2d 501 (Minn. 1989). In a Karon waiver, the parties stipulate that there will be no future modification of spousal maintenance at the time the award is made. It is a waiver of the statutory right to modification of maintenance.

  • The facilitated process to determine the documents necessary to convey your wishes based on your objectives, property, assets, and family.

    WILL

    A will or estate plan conveys your wishes for who will care for your minor children and how your money, property, and personal belongings will be distributed after your death or incapacitation. Reviewing your estate plan regularly is crucial as laws change and as life situations change.

    ESTATE & GIFT TAX PLANNING

    Gifting assets to others can be a valuable tool in estate planning and can help reduce your taxable estate.

    In Minnesota, gifting may eliminate the need to probate your estate by making a small estate even smaller; and may allow you to transfer tax obligations to your children who may be in a lower tax bracket, provide for a favorite charity or provide help to others.

    By giving assets away before you die, you also get to see the recipient enjoy your generosity.

    REVOCABLE & IRREVOCABLE TRUST

    Establishing a trust allows for more specific instructions on how you want assets, or a specific asset, managed and/or distributed, and some trusts can even be implemented before death. Depending on your situation and wishes, there are several types of trust to consider: contingent will trust, revocable trust, irrevocable trust, charitable trust, special needs trust, and more.

    BENEFICIARY PLANNING

    Creating or updating beneficiaries on plans such as life insurance, IRAs, and 401(k)s

    HEALTHCARE DIRECTIVE

    Healthcare agents, Living Will, Do Not Resuscitate Order, Medical Power of Attorney, and Physician Order, are directives that some people also consider at the time of establishing a will, but may also be added as components later. Understanding each directive and its implications is important so that decisions can be made in a timely and planful manner.

    POWER OF ATTORNEY

    Designating someone who can legally act on your behalf can be customized to fit various situations, duration, and conditions. Clearly stating the range of authority is important as is knowing when and how to revoke the authority. Contact our firm to execute the proper documents customized to your specific circumstances or to revoke current authorizations.

In the case of divorce, financial support is important for maintaining quality of life for your children, for yourself, and even for an ex-spouse depending on the extenuating circumstances best analyzed by an experienced attorney.

In the unfortunate case of a death, financial support can be ensured by establishing an estate plan that includes a will and/or trust, power of attorney, health care directive, or other instruments that ensure your wishes are carried out and that the financial security of your loved ones is planned.

The attorneys at Baker Vicchiollo Law can analyze the possibility and options for securing support, based on your specific circumstances, through:

Our attorneys can explain the factors involved in obtaining a court order for financial support, or how to modify a support obligation through negotiation, mediation, or court intervention.

Additionally, our attorneys can work with you to create or review an existing will or trust to ensure financial support and assets are used in the way you intend upon your death.

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