Minnesota State Representative, Ernie Leidiger, is retiring from state governmental post. Leigier represented Carver County in the state legislature for two terms. A Navy vet himself, Leidiger was instrumental in securing benefits and aid for servicemen returning home from Iraq and Afghanistan. He said he was stepping back to spend time with his expanding family and to re-launch his business empire.
Leidiger was previously in the news because of his ownership interest in a half-million dollar property in Mayer that was recently foreclosed upon. He initially bought the property with his now ex-wife and other family members. Unfortunately, he said divorce and other factors led to the foreclosure of the property.
This type of situation is not uncommon amongst splitting spouses. Married couples, though not traditional business partners, often decide to invest in local businesses or properties. While the returns can blow past stock market yields, the investments are harder to manage in a divorce.
When a couple hits the end of a marriage they must determine who gets what. This determination regularly leads to disputes. Houses and 401ks are difficult enough to split. Rental properties and membership interest in local business can be even trickier.
Local St. Paul attorney’s specialize in helping their clients come out of a divorce in the best possible position. This includes advising them on the split of non-traditional assets. Whether a sell-off is necessary or financing can be obtained, local attorneys can help divorcees work out a divorce settlement that is beneficial long term.
Source: Minneapolis Star-Tribune, “Leidiger announces retirement after two terms,” Abby Simons, Feb. 5, 2014