How To Protect Your Assets In Divorce
When you face a divorce, it is important that you understand how property will be divided between you and your soon-to-be ex-spouse. At Bergmans Law P.C., you can expect to receive the dedicated legal representation needed to help you make informed decisions regarding property division.
We have decades of experience negotiating high-stakes situations. Our lawyer takes a client-centered approach to each case, which means you can count on knowledgeable legal representation that is tailored to your needs.
Classifying Marital Property In Michigan
A Michigan divorce will typically involve the dividing of property between the spouses. During this process, a court will first have to determine which property is considered marital and which is separate. Generally, marital property is property obtained during the marriage and can include almost anything, ranging from the marital home to even retirement accounts.
Conversely, separate property is any property that was owned by one spouse before the marriage. For example, a business you owned before you got married is often considered separate property and not included as a marital asset.
How Marital Property Is Divided In Divorce
Michigan courts are required to divide property fairly between the parties. This usually means an equal division of property, but a court can consider several factors when deciding the issue of asset division during divorce. These factors may include:
- Duration of the marriage
- Past and present conduct in the marriage
- Contribution toward the acquisition of marital property
- Age, health and life status
- Each spouse’s income and earning potential
- Fault, such as adultery or gambling, that may have contributed to the divorce
A couple may also agree to divide their property on their own terms. You and your spouse can work together collaboratively to divide your property in a way that is most appropriate for you and your family.
Contact A Committed Family Law Advocate
Dividing property in a divorce can be contentious and have a lasting impact on you and your family’s financial future. This is why it is important that you consult with an attorney who understands your needs and who can help you make the legal decisions that most benefit you in the long run.
If you have questions about property division in Michigan, contact Bergmans Law P.C. today for a FREE initial consultation. You can reach out to us online or call us at 810-222-5703. From our offices in Howell, we assist clients throughout Livingston and Genesee counties and the surrounding areas.
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