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Know your property division laws before heading to court

Michigan residents, like others in the nation, often face challenges during divorce proceedings. No two situations are exactly alike. While the challenges that arise may vary, many people share common experiences regarding certain issues, such as child custody, visitation or property division. The latter is a particular concern for those who own businesses or circumstances involving high assets.

When you marital division leads to property division problems

Michigan is not a community property state. Then again, neither are most other states throughout the nation. This means when you divorce your spouse, your marital assets will be divided fairly but not necessarily evenly. This often leads to some very heated property division arguments between spouses.

Do you know the consequences of hiding assets?

Divorce is one situation in Metro Detroit where some spouses hide assets to cheat their partners out of their share of the marital property. Many of them are not aware of how risky this type of behavior is. They may have motivation to hide information about assets and finances because of a sense of entitlement and negative feelings where they want to punish their partners. No matter their reasons for doing so, the temptation to keep more of the marital pot for themselves may be too much for them to ignore. 

More to property division than just agreeing on who gets what

Saving money is a good idea in many instances. Many Michigan couples use coupons, try to cut expenses and look for the best deals on their purchases. However, when it comes to divorce, saving money by attempting to do it themselves may actually cost them more in the end. Although they may agree on property division details, there can be specifics that are not considered but still end up proving costly.

Financial aspects of property division

The writing is on the wall and both individuals know that the marriage will probably not last much longer. Once reality sets in, it is time to start thinking about one's financial future and how the property division process can have a lasting impact. For many Michigan couples, separating the financial aspects of the marriage can be a challenge.

Property division concerns for older divorcee

"Can I afford a divorce?" This is the question than goes through the minds of many older Michigan residents as they contemplate ending an unhappy marriage. In order to answer this question, it will be necessary to review the current financial situation and all elements that will be involved in the property division part of the proceedings. This will also include any alimony, child support and child custody concerns.

Property division and the prenuptial agreement

The location has been selected, the cake tasted and the dresses ordered. It appears that everything for a perfect Michigan wedding is coming together. Yet, one important part of the planning process that is sometimes overlooked is planning for future possibilities. Sometimes the unthinkable happens, and death or divorce creeps in. With this possibility in mind, it is important that the happy couple discuss property division issues as a part of the wedding planning process.

Property division and military pension payments

For many Michigan couples, many decisions regarding their divorce agreement revolve around financial concerns. Even after all the details have been worked out and agreed to, future decisions can sometimes have a significant financial impact on both parties. In addition to child support, and alimony, property division can play an important role in the post-divorce finances of each individual.

Property division and the different types of divorce

The decision to divorce is often a difficult one for a Michigan couple to make. One day the couple is fighting and can't stand the idea of another day together; another day, at least one spouse wonders if they should give it one more try. At some point, though, the difficult decision needs to be made and the individuals allowed to move on with their lives. Throughout this period of turmoil, decisions regarding property division, child custody and support, spousal support and more must be finalized.

Assets and liabilities part of property division

Assets and liabilities are a significant part of most Michigan divorces. The couple decides that it is time to go their separate ways and then the questions of who gets what and who is responsible for what become crucial. For some, decisions related to property division can become points of contention.

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  • Understanding the legalities of the divorce process Laura has walked me through the maze of this legal system educating me so that I understand the divorce process. She has fought for me an every issue that I have had concerns with and given me excellent advice when I needed it. I am very satisfied with the direction and results. - Anonymous
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  • Excellent, Supportive, Knowledgeable, Strong Amy is the best type of lawyer one could want - she is tough when needed, extremely knowledgeable about her field, confident, supportive, straightforward, reliable and cognizant of keeping financial commitments at a reasonable level. Amy handled my divorce and was not only excellent in her delivery of services, but...- Jordana
  • Highly Recommended - Caring, Tough, Affordable Lawyer Laura Eisenberg was 100% on my side during my divorce and actually got it pushed through ahead of schedule because of her good relationship with the Oakland County judge! She got me everything I wanted and also worked out the custody, child support and the property settlement that I wanted. - Katherine
  • Very Skilled & Experienced Lawyer Laura helped me through a very difficult divorce situation. I was completely taken by surprise when my spouse filed divorce papers, and was worried about the children, the house, child support, etc. A friend recommended Laura because she had really helped her with her divorce. - Anonymous
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Responding to our clients' needs is our first priority at Eisenberg & Spilman, PLLC. Whether you are considering divorce and have questions about your rights, or you are seeking custody of your child, our Oakland County family law attorneys are here to help you.

We invite you to contact Eisenberg & Spilman, PLLC, at 248-358-8880 to schedule a confidential consultation with one of our attorneys to discuss your divorce and other family law matters. In addition to our regular business hours, evening and weekend appointments are available upon request.

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Eisenberg & Spilman, PLLC
600 South Adams Road Suite 100
Birmingham, MI 48009

Phone: 248-358-8880
Birmingham Family Law Office

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