
Understanding Property Division in Michigan
- Annette Benson Law
- Last Updated:
- Divorce, Property Division
Property Division
Spouses may own property together like a house, car and furniture. This is called marital property. They may also have joint debt like a mortgage, car loan, credit card debt or other loans. This is called martial debt.
The divorcing couple may want to sit down together and list all of their property and debts, as well as how they plan to divide them. A judge will need to review the agreement to ensure it is fair to each party.
When separating spouses can’t agree
If the spouses cannot agree on how to divide the property, the judge will divide the property for them. The judge may review the length of the marriage, each party’s financial needs, earning capacity and other factors. Usually, each party will receive about half of the marital property and debt but it is dependent on their individual circumstances.
Divorcing spouses who have separate property usually keep it individually in a divorce. Separate property may include items one spouse owns before the marriage or an inheritance he or she receives during the marriage. However, if separate property is put in a joint bank account or otherwise used for marital purposes, it may become marital property.
An experienced attorney can help divorcing spouses with property division questions to ensure their assets are protected, as well as provide representation for other divorce matters.
Connect with Us!
Recent Posts
Protecting the parental rights of fathers
The care and custody of children is an important part of what courts assess and determine when they are confronted with family law matters. In Michigan, custody and visitation issues may . . .
Five reasons why divorce mediation is a bad idea
If you do any amount of research for your divorce, you are likely to stumble across the idea of mediation. And everyone who wants you to pursue mediation will praise its advantages. It offers you more creativity! More control! It can save money! Given what you know of your marriage, you may wonder: Is this all too good to be true? In many cases . . .
When one parent interferes with a custody agreement
When a custody order has been entered by a Michigan court, it has the force of law. One parent cannot interfere with the custody order or the co-parenting plan established in that document. One needs to be . . .