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Asset Division

Property Settlement – is it 50/50?

Understanding the process of dividing property in divorce and the difference between marital and separate property is important. By default, with few exceptions, property is divided 50/50 for assets accumulated during the marriage. Rarely does it deviate so any suggestion by your spouse to the contrary is more than often proven to be false. In light of these allegations, utilizing the right attorney to defend your rights can make the difference in receiving a property division award in the tens, hundreds of thousands, or millions of dollars, depending on your case. Without question, your case deserves the attention and skill of an experienced lawyer to effectively represent you in a where property division is a big factor and your financial future is at stake.

Asset Division In Michigan Divorce

There many ways to resolve property division in a Michigan divorce case, some amicable, some not. If you agree with your spouse on how you want to divide assets, property and debts, you can create an agreement without court intervention. If you cannot reach an agreement, your attorney will need to conduct a comprehensive examination of your assets and debts to determine how the attorneys, a mediator, or the court will resolve the disputed issues. Some of the factors that Michigan family court mediators and judges will consider include:

  • Length of the marriage
  • Contributions to the marital estate
  • Health and life status of each party
  • Necessity/circumstances of each party
  • Each party’s earning ability
  • Past relations/conduct of each party
  • Cause of the divorce
  • Needs of the parties and children
  • General principles of equity

Mr. Marchese will help explain the difference between marital property and separate property, how a fault could affect the property division process, and how other issues like spousal support/alimony affect your divorce case. He handles all issues involved in property division, including:

  • Dividing debts incurred during the marriage
  • Marital vs. separate property
  • Inheritance and property division
  • Dividing real estate

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