How will your divorce affect your financial outlook? The answer may depend on your choice of attorney. You need someone on your side with experience resolving complex economic issues in divorce who can maximize your share of the marital estate. You need the attorneys of Berlin Family Law Group in Troy, Michigan.
Michigan is an “equitable distribution” state, which means that a court will divide marital assets and debts based on fairness, not equality. While a property settlement may be 50/50, it does not have to be if a different ratio achieves equity.
Marital property is subject to division in a Michigan divorce, including assets purchased or acquired during the marriage, with the exception of gifts or assets received through inheritance. Some assets acquired before marriage can become marital assets due to comingling during the marriage. For example, both spouses contributing mortgage and tax payments for a house one spouse purchased before the marriage could result in the house being considered marital property for property division in divorce.