The division of property during divorce can have a significant impact on the lifestyle and financial future of both spouses. In Michigan, property must be divided equitably, but not necessarily equally, between the spouses. This leaves a significant amount of discretion to the judge in deciding exactly which assets will go to either spouse.
It is very important that you have legal representation that understands how to protect you during these proceedings and achieve the best possible outcome.
Knowledgeable Guidance Throughout The Property Division Process
At Xuereb Law Group, we are experienced in handling property division and are committed to zealously pursuing the best possible outcome in each case we handle. Our firm works with skilled professionals to accurately value all assets and propose a fair and equitable division that is in our client’s best interests.
For more information about property division, please contact our Canton, Michigan, law offices today to schedule a consultation.
While there is not a set standard of rules in Michigan for dividing property, there are several factors that family law judges use to guide their decision. These include:
- Duration of the marriage
- What each spouse has contributed to the marital estate or total assets
- Age, health and life status of the spouses
- Needs of the spouses and any other notable circumstances
- Earning potential of the spouses
- Fault of the spouses in the divorce
- General principles of equity
The court could also take several other factors into consideration, including sacrifices made by one spouse for the other spouse’s career and education. The judge will deliver a final decree that he or she feels is equitable, given these factors and the assets involved.
What Property Will Be Divided?
Debt is also included in the division and sometimes used to offset the allocation of certain assets.
To protect yourself and your financial future, you need you have effective legal representation and an attorney who can achieve the best possible outcome. Our lawyers are experienced in handling complex property division and committed to protecting you. Call our law offices today.