Property Division: What You Need To Know
One of the most important issues divorcing couples must address is the division of marital property. At The Law Offices of Lorrie J. Zahodnic, P.C., we do our best to negotiate amicable arrangements, yet we understand that property division can lead to contentious and emotional feelings. Whatever the circumstances surrounding your divorce, our firm will work hard to protect your rights and to ensure you receive a fair and equitable share of your marital assets.
Experienced Family Law Counsel When It Matters Most
Attorney Lorrie Zahodnic has been practicing law for more than 30 years. Her legal experience, coupled with her background as a nurse and as a trial lawyer, has instilled in her a dedication to her clients and a desire to obtain results in a quick, cost-effective manner. She will listen to your situation, gain an understanding of your goals and personalize her representation to obtain the best possible result.
Courts will only divide marital property during the divorce process.
- Marital property: Marital property consists of assets that were acquired during marriage, including income, real estate, retirement accounts and other household items.
- Separate property: Separate property consists of property a spouse owned before the marriage, gifts or inheritance, and property you and your spouse acquired during marriage but intended to remain separate.
Dividing Assets In Divorce: What You Can Expect
Michigan is an equitable division state. Equitable, however, does not mean equal. During your divorce process, the court will award marital property to each spouse based on what is fair given his or her specific situation.
Courts will look at many factors when dividing assets between spouses, including:
- The duration of the marriage
- The skills, earning capacity and financial liabilities/needs of both spouses
- The contribution made by spouse to the acquisition or maintenance of the property.
- The value of each spouse’s separate property
- The estate and Social Security benefits available to each spouse
- Many others
Contact Our Office Today To Learn More
Lorrie Zahodnic is a thorough and knowledgeable Clinton Township property division attorney. She can meet with you to discuss your concerns and legal options Monday through Friday, 9 a.m. to 5 p.m., and at other times by request. We also provide free initial phone consultations.