There are two basic guiding principles when it comes to dividing property in divorce. A small number of states adhere to the “community property” model, in which nearly everything acquired by either spouse during the marriage is equally owned by both and subject to division in divorce.

Minnesota is among the majority of states to use the “equitable distribution” model, in which assets are divided equitably, which isn’t always the same as equally. This model can be used to account for differences between the spouses that might have led to financial imbalance during and after divorce (such as one parent leaving the job market to stay at home with the children or one spouse supporting the other to pursue higher education).