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How are assets divided in Michigan divorces?

At the end of a marriage, hurt feelings and other emotions are often at play. As such, it can be difficult for divorcing spouses to effectively communicate with each other and negotiate settlements. This can make the division of property, which is often one of the most contentious aspects of a divorce, all the more complicated. In cases when Michigan couples cannot reach an agreement on their own, the decision typically falls to the courts if there is not a prenuptial agreement already in place.

Helping people who are struggling with property division

When many people get married, they probably don't think about some of the future issues they may have to deal with if their marriage comes to an end. From child custody and support to property division, divorce can be very difficult. However, the division of property can be particularly stressful and emotional for those who are going through a divorce, especially if they aren't prepared. At the law offices of Lorrie J. Zahodnic, we work hard to help ensure that our clients in Clinton Township and other parts of Michigan receive their fair share of property after separating from their spouse.

What properties are subject to division in a divorce?

Deciding what to do about shared property can be one of the most divisive and stressful parts of getting a divorce. The situation is easier to handle with some form of guideline to follow, a mediator, or very good understanding of one another. Not everyone has these luxuries when dealing with property division arguments. However, there are still things that a couple can do to make the process go smoothly.

What is the difference between marital and non-marital property?

As an equitable distribution state, Michigan divides marital property based on what is fair. A judge typically allocates property based on factors such as a spouse’s earning capacity and contributions toward the couple’s assets. According to state law, non-marital property is not subject to division.

Divorce and Facebook – is there a connection?

There are many factors that can lead to a couple in the Clinton Township area, or anywhere else, deciding to get a divorce. Many times money problems can be at the root of a divorce. Other times, one spouse might decide to stray from his or her partner and begin a relationship with another person. So what about social networking, can it play a role in people getting divorced?

Real-estate moguls battling it out in nasty divorce

Divorce is almost never easy for anyone involved. However, when a divorce includes a business or high assets, it can get very tricky, as well as very heated. Although there are many issues to sort out when a couple splits up, many times the most difficult issues can be money-related. Anyone in the Clinton Township area who is involved in a high asset divorce should understand his or her legal rights.

Knowing your finances can make a major difference in divorce

ivorce is almost always a difficult situation, but it can be even more strenuous on the parties involved when many assets are at stake. Anyone in the Clinton Township area going through a high asset divorce needs to make sure that he or she has all of his or her financial matters in order. Leaving things to chance, on the other hand, can end up putting a person in a very difficult position when it comes to property division.

Caution urged regarding marital debt after a divorce

Concerns about dividing both marital assets and marital debts are frequently among the most hotly contested portions of a divorce proceeding for Michigan spouses. The ultimate property division not only affects ownership of assets but can affect the payment of spousal support or other settlement terms. Laws governing equitable division in Michigan work to ensure fair agreements but they cannot always prevent every challenge.

Some may file for ex-spouse's Social Security benefits

Divorcing husbands and wives in Michigan have many issues to attend to. Property division, business division, spousal support and potentially child support are just some of the common areas about which settlements must be reached. Some topics involve assets and liabilities that are concrete today, like a house or car. Others, however, can involve assets more likely to affect a person’s future. Retirement accounts, pension fund and social security benefits are some such examples.

Decisions regarding pets can be difficult in a divorce

When facing a divorce, couples in Michigan have a seemingly endless list of issues with which to deal. From spousal support to property division, the range of topics is varied and complex. Within the realm of property division can fall many sub-topics as well. These can include a couple’s home, automobiles, vacation home, bank accounts, retirement accounts and even business assets. The need to determine what is marital property and what is non-marital property can also be a challenge at times and directly affect the ultimate settlement.

Lorrie J. Zahodnic

"I will hold you up until you can stand on your own two feet."

Lorrie J. Zahodnic, P.C. has provided skilled and compassionate legal guidance to Michiganders in family law matters for over 20 years.

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