While getting ownership of the residential home is considered a primary aim in property division in Michigan, this option may not always be the most practical one. Couples going through a divorce need to understand how much money goes into maintaining the house and...

Like other states, Michigan has a law that allows married couples to receive some protection from court if they want to live in separate yet remain legally married. Although this often gets referred to as legal separation, Michigan law calls this separate maintenance....

Divorce can be difficult, especially when the parties involved share a business. There are a few options to consider when dividing a business that can make the process easier. How do I know if the business I own with my spouse is a martial asset or separate property?...

A prenuptial agreement can be enormously beneficial for your financial wellbeing as you embark on your marriage. But things change, and so do people. This means that there are some instances when hindsight is 20/20 when it comes to a prenuptial agreement. Even if your...

Property division is an important part of the divorce process and can also be challenging for many divorcing couples. One of the many challenges divorcing couples can face is what to do to divide a home during the divorce process. Sell the home and divide the proceeds...

Prenuptial agreements help engaged couples prepare their finances and protect their assets if they ever divorce. These contracts are becoming even more important as spouses are more likely to have equal assets or wives own more property than their soon-to-be husbands....

Divorce isn’t an easy process to go through, and it can be especially hard on those with a family business. Plenty of options await owners, but they all require understanding what you’ve got. Husband and wife teams own 3.7 million small businesses across the country....

Past posts on this blog touched upon the fact that your 401(k) becomes subject to property division in your divorce. Having to divide that account up with your ex-spouse may drastically impact your retirement plans in Michigan. The potential of such an impact is often...

Michigan courts follow the rules of equitable distribution when dividing assets in a divorce.  According to BankRate, equitable distribution means a fair division of the value of assets but not necessarily an equal division of the assets. You should note that the...