Sometimes people have certain instincts and think they have to take care of things a certain way without thinking it through. One of the financial mistakes that individuals make is paying off debt before the divorce hoping the court will look at them differently. A marital debt is going to have to be divided in the divorce balance sheet just like a marital asset. This means when you run to pay off the debt, it will not come back into the equation as a shared debt.
The debt may be something that your soon to be ex has to pay half of also. Another mistake from a financial standpoint is attempting to hide assets. Most assets can be traceable to some degree and if one person is caught trying to deceive the court, there are very serious consequences of doing so. Contact us today if you have any questions regarding Divorce in the State of Michigan.
Goldman and Associates Law Firm is here to provide you with information about Divorce in the State of Michigan.