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One of the most difficult issues in a high-asset Michigan divorce – or in any divorce, for that matter – is the valuation and division of real property, especially the family home. Michigan divorce law requires that the assets owned by the divorcing couple be divided...
Some couples are partners in marriage and partners in business. If the business is marital property, it will be divided equitably between the spouses if they decide to divorce. Marital property Generally, marital property includes property acquired by either spouse...
Buying a home is often considered a milestone for many married couples. However, if you decide to get divorced, determining what happens to the home can be one of the greatest challenges of your divorce. In Michigan and other equitable distribution states, a home...
Divorce is never easy, but it can be especially challenging when both spouses are professionals with high incomes and assets. In Michigan, a high asset divorce is when there is $1 million or more in liquid assets, and there is a large amount of property and other...
It may be disheartening to hear that your beloved pet is simply seen as another piece of property in Michigan subject to asset division in a divorce. If you adopted your pet when you were married, it may be awarded to you or your spouse not unlike the sofa or the...
Property division is a major part of most Michigan divorces, but sometimes people forget that dividing debt is also part of property division. Michigan law states that marital property is divided equitably, or fairly, between both spouses. The same goes for marital...
Pre- and post-nuptial agreements have never been sexy. Indeed, a lot of reality television revolves around one party wanting one, and the other party hating the idea. Somehow, these legal documents have become a taboo topic. But, it should not because a bit of...
Any single issue can become a hang-up in divorce cases in Michigan, from child custody and support to alimony and property division. However, for many people, the property division issue is crucial. There is a recognition that the manner in which the property division...
If you’re going through divorce, then one of your concerns is probably how you’re going to get by financially once your marriage is dissolved. This is an understandable worry. After all, many Michigan residents who get divorced find themselves going from two salaries...
People in Michigan acquire property at various stages of their lives. They may also start bank accounts, retirement accounts or investment accounts at a young age and continue growing them throughout their lives. For the most part it does not matter when people...