In Michigan divorce cases, property division is equitable, which means fair given the applicable circumstances. Factors like child custody arrangements, the financial sacrifices either parent made in relation to raising the children, and the children’s housing needs all play a role. If you and your divorcing spouse do not share minor children, the matter of property division will focus on your and your divorcing spouse’s financial circumstances in the context of your marriage. Turn to our experienced Westland property division attorneys at The Smith Law Offices for the help you need.
Marital Property vs. Separate Property
Marital property refers to the assets you and your spouse acquired as a married couple, regardless of whose name is attached or who made the purchase. Separate property, on the other hand, refers to those assets that either of you owned prior to marriage and kept financially separate during your marriage. Gifts and inheritances that either spouse receives in their name alone are also classified as separate.
Separate property generally stays with the original owner. Any financial commingling with marital assets, however, can weaken their sole claim on it. Michigan courts can also award part of one spouse’s separate property to the other when the marital estate isn’t enough to provide suitable support, or when the other spouse contributed to the separate property’s acquisition, improvement, or growth.
Equitable Property Division in Westland
Michigan courts are called upon to divide marital property fairly and reasonably rather than necessarily evenly. In the process, they consider several primary factors.
The Length of the Marriage
If you divorce after a relatively short marriage, the division of your marital assets is more likely to bring each of you closer to your financial standing prior to marriage. Divorcing after a longer marriage, however, is likely to support a division that is closer to an even split.
Each Spouse’s Contributions to the Marriage
Michigan courts take each spouse’s contributions to their marriage into careful account. This includes both financial and nonfinancial contributions, like taking care of the home and children. If you don’t share children, contributions that relate to homemaking can potentially make a difference.
Wrongdoing
While Michigan is a no-fault state for purposes of getting divorced, the court can still consider fault when dividing property, including conduct that contributed to the breakdown of the marriage and financial misconduct, such as:
- Sinking significant amounts into an extramarital affair
- Spending down or giving away assets in the buildup to divorce
- Hiding assets
- Other forms of financial misconduct
Discuss your case with a trusted property division lawyer today.
It’s Time to Call Our Experienced Westland Property Division Lawyers
Our dedicated Westland property division attorneys at The Smith Law Offices will leave no stone unturned in our focused pursuit of your case’s favorable resolution. How your marital assets are divided is important to your financial future, and we are here to help. For more information about everything we can do for you, please don’t wait to reach out by contacting us online or giving our firm a call at 734-729-4465 today.
