Understanding Property Division in Michigan

Understanding Property Division in Michigan​

When a couple decides to divorce, they need to address how to divide their property and their debt. There is general information available about Michigan property division that may be helpful for couples to know.

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.

Search

Connect with Us!

Recent Posts 

Managing Emotions in a Divorce

Divorce can be difficult for Michigan couples, and it can be even more difficult when it becomes acrimonious. However, there are ways to keep the divorce process civil even when emotions and conflicts are high. One key is choosing the appropriate time and place to express those emotions. Above all . . .

Read More »

How are pensions divided in a divorce?

There are many different types of assets that couples acquire during a marriage. These assets can include homes, vehicles, bank accounts, investment accounts, retirement accounts and other types of assets. If the couple divorces . . .

Read More »

How to talk about divorce with a child

Parents in Michigan who are preparing for a divorce know that separation is not easy on children. Children are likely to have questions about the divorce, and they may be resistant to splitting their time between two households. Parents should . . .

Read More »