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People who are going through a divorce have to handle the division of their marital estate, which includes assets and debts. In order to do this, both parties must have a complete picture of the financial situation. Financial transparency means that neither side is...
When a professional with a well-funded 401(k) faces divorce, their first priority might be the preservation of that account. In some cases, directly dividing the 401(k) is necessary due to a court order or to an agreement between the account holder and their spouse....
People who are married often invest in a home, and it’s likely one of the largest assets they own. The asset that they worked hard to purchase can become a major source of contention if the couple decides to get a divorce. In Michigan, property is divided using...
When couples going through a contentious divorce are deciding how to divide their property, they sometimes end up fighting to keep items they don’t need or want just to keep their soon-to-be ex from “winning.” Unfortunately, that competition can sometimes extend to...
Going through a divorce means that you and your ex have to split up everything financial that’s become entangled during the marriage. This isn’t an easy undertaking, but it’s one that’s necessary. One thing that some people don’t realize is that the property division...
Michigan courts follow equitable distribution when dividing the marital estate in a divorce. This approach seeks to allocate property in a fair and just manner, taking into account the unique circumstances of each marriage. Rather than simply splitting everything down...
The emotional fallout can be overwhelming when a marriage ends due to adultery. What about the financial implications of such a situation? Will your spouse's infidelity impact the division of your shared assets? Adultery does not directly influence property division...
Divorce can feel stressful and overwhelming, especially when it comes to dividing property. You want to ensure a fair split, but how do you know what everything's worth? This is where hiring an appraiser becomes crucial. These professionals help you see the actual...
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...