Finding it difficult to divide your property and assets in a Michigan divorce? We can help.
Divorce in Michigan can be simple when you and your spouse do not share any assets or liabilities. But what happens when you have shares assets or liabilities you own with your spouse?
At Goldman & Associates, we understand the complexities involved with filing for divorce when a large number of assets are part of the proceedings. It’s important to understand that in the state of Michigan assets and liabilities obtained during the term of the marriage are considered community property. This means both spouses are entitled to fifty percent of the assets.
Marital Property
There is an important distinction in how property is classified during divorce that determines how it’s distributed. Generally, martial property is that which is obtained during the course of the marriage. This can include homes, vehicles, furniture, jewelry, and any other type of asset so long as it was obtained during the marriage. Another type of asset is called “separate” assets and those are obtained before the marriage is formalized. Separate assets can also include gifts or inheritances that are received at any time during the marriage.
A big cause of disputes? Property. Property often leads to disputes because one party may want to keep something other party simply for spite. It’s important to keep a level head and understand that an attorney can take the burden away.
It’s important to determine whether property is community property for separation purposes. Where parties are unable to stipulate to the distribution of property, asking the court or a mediator to step in can help alleviate any issues that have arisen during the divorce proceeding. Is a spouse attempting to hide assets? It’s important to bring this to the court’s attention in order to have a proper hearing.
A prenuptial agreement might limit one spouse from obtaining assets from the other during the divorce proceedings. “Pre-nups” are contracts and are legally enforceable in all courts within the state of Michigan. Often, language within the “pre-nup” will limit a spouse to a small portion or nothing in the event of a divorce. “Pre-nups” might limit or identify the amount of alimony a spouse may receive in the event of divorce.
Speak with An Expert Michigan Attorney
Divorce is complex and often infused with frustration fueled from years of marital breakdown. It’s important to hire a law firm that understands the pitfalls that can occur during the divorce process. Especially when protecting the assets you care about most, having the right help can be priceless.
For over 30 years, Goldman & Associates has pursued justice for their clients in a proactive and zealous manner. Call us today at (248) 590-6700 for a free consultation with one of our attorneys.