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Managing the challenges of divorce is never easy, especially when it comes to the division of property. Thus, knowing the difference between marital and separate property is crucial because it can influence the outcome of property division. If you are in the process...
Dividing assets is usually one of the most stressful issues in any divorce. The parties to a divorce often give in to their less honest instincts and attempt to hide assets from the other party. In Michigan, as in most states, such behavior is plainly illegal. The...
If you find yourself in the midst of a later-in-life divorce in Michigan, the fate of your retirement accounts is a concern. After all, you spent your entire life building this nest egg to live on when you retire, and the idea that these funds could disappear...
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...