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Property Division

Wednesday, November 27, 2019

Property Division in a Michigan Divorce


Q: How is property divided in a divorce?

If you are confronted with the posibility of getting divorced in North Oakland, Michigan, you most likely will have property that must be divided.  The property and debt, regardless of whose name it is in, will have to be divided and this can be a difficult analysis in some cases.
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Saturday, September 28, 2019

What If I Think My Spouse is Hiding Money?


If a spouse is hiding money, there is often a paper trail that will show money disappearing from an account or other discrepancies like a difference between income the pay records from an employer reflect it is paying the spouse versus what the spouse is actually depositing in the account.  If you file for a divorce, a good family law attorney has several tools available to uncover this information and help recover these funds in the divorce settlement.  


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Thursday, September 19, 2019

Who Gets the Bank Account in a Divorce in Michigan?


One issue that arises in almost every divorce case is the division of property, even in short-term marriages.  All property that comes to the marriage through the efforts of either party during the marriage is generally considered marital regardless of which party may have earned the income, purchased the property or how it is titled.  Separate property is generally property that the parties had before the marriage but there are many ways it can lose it's separate nature during the marriage.  Marital proeprty is generally divided equally while separate property is awarded to the party that brought the property into the marriage. 

If you or your spouse has considerable premarital assets and are concerned about whether the court will divide that property between you, working with your 


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Saturday, August 31, 2019

When Dividing Property in a Divorce, Does the Court Have to Consider Tax Consequences?


There are many issues that one might face in a divorce, including but not limited to: custody, visitation, child support and alimony or spousal support.  However property division and division of debt are involved in almost every case.  This includes such things as the marital home, personal property, bank accounts and other tangible assets.  It also includes retirement accounts and pensions as well.  Assets like retirement accounts and pensions will require the spouse who withdraws the money to pay taxes on those funds before he or she gets the money, other assets do not have this tax issue.
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Wednesday, August 7, 2019

How Do Retirement Funds or Pensions Get Split in a Divorce?


When a person gets divorced in Michigan there are often many issues that may include alimony, child custody, parenting time and child support but almost every case requires a division of property and debt.  When dividing property; the court will first determine whether the property is marital or separate.  Marital property will be subject to a roughly equal division, while separate property will remain the sole property of the spouse that owns the separate property.  Classification of property can be confusing. A 
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Tuesday, July 16, 2019

Pets and Divorce in Michigan


There are many issues that can come up in any divorce case.  One issue that is sometimes overlooked, is what to do about the family pets?  There can be a very strong emotional bond between the divorcing couple and their dogs or cats.  If there are children, some couples try to keep the pets in the same home where the children spend most of the time.  In some cases, one person may be moving to a new residence where he or she may not be able to have a pet and this resolves the issue, but what happens when each of the divorcing partners wants to keep the pet or pets?

In Michigan, pets, and all animals are treated as chattel or property, so unlike child custody, visitation or support, the pet's best interests will not be taken into account.  Technically, the pets could be divided along with the other property the parties must divide in the divorce or separation.


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Wednesday, May 1, 2019

How Does a Judge Decide Who Gets What in a Divorce

When it comes to a divorce, most of the time the parties (the people getting divorce) and counsel negotiate the division of the parties assets, debts, real estate and personal property.  This is called the property settlement or property division part of the case.  Sometimes the parties are able to reach an agreement on how to do this between themselves with some guidance from the attorneys, then the attorneys prepare the appropriate documents to accurately reflect the agreements and make them legally binding.  In many cases the parties are not able to reach an agreement between themselves, 


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Saturday, April 27, 2019

What if My Spouse Refuses to Transfer Me My Share of Property After a Divorce?


Sometimes people who are facing a divorce are concerned that their husband or wife will simply refuse to transfer assets or somehow avoid it.  This is a particular concern for the spouse that has the lower income or where the other spouse has always had control of the finances and retirement accounts.  In some of these situations, the other spouse will refuse to provide even basic information or account statements.  Other cases there are situations where one spouse will hide all of the statements or lock all the financial information away in a cabinet that the other spouse does not have access to.

 

Forcing Division and Transfer of Property in a Divorce 

Fortunately there are many ways that the attorney is able to determine where the money is invested and the value of those investments.


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Wednesday, April 3, 2019

What Date Will the Court Use When Valuing Property or Dividing Accounts in a Divorce?


Custody, parenting time and child support are only an issue in cases where people have children.  Alimony may be applicable in cases where there is a serious wage disparity or other grounds to order it.  Property division is an issue in almost every single divorce case.  One thing the court or the parties must determine is what date does the court or the parties use to value the parties property and divide accounts. 

Why Does it Matter What Date is Used to Value Accounts or Property?

In a very simple divorce, the date of valuation might not make much if any difference.


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Friday, February 15, 2019

Will A Divorce Court Enforce A Marital Contract (aka) A Contract to Pay Money to Get Someone To Marry You?

Will A Court Enforce A Contract To Pay Money To Get Married?
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Friday, February 1, 2019

How is Separate Property Determined During a Divorce?


One of the commonly litigated issues in a divorce is the separation of property between the spouses. Michigan follows the equitable distribution theory for dividing property in a divorce. Equitable distribution means “fair” not “equal.” Therefore, when parties cannot agree to a property division settlement, the court determines a fair and equitable division of marital property.

A spouse may argue that certain property is separate property to prevent the court from including the property in the final property division order.

Read more . . .


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