|
Under Michigan law, property is either considered to be part of the “marital estate” or “separate property.” Property that is deemed to be part of the “marital estate” is subject to “equitable distribution.” That is, it is split between the spouses in a way that the court deems to be “equitable.” Note that equitable does not necessarily mean equal or 50/50. Rather, it means that property will be split in a way that a court believes to be fair or just.
When the court makes a division of property in a divorce case, "fault" may be taken into account by the court. The court can decide that one party is entitled to more property than the other because one party was at fault in causing the breakup of the marriage.
Assets and debts acquired during a marriage are usually deemed to be “marital property” under Michigan law. Conversely, “separate property” usually includes inheritances received before or during the marriage, assets accumulated prior to marriage or while cohabitating prior to marriage (though depending on the assets were treated during the marriage, it is possible that they could be considered marital property), and increases in value of a separate asset due to “passive appreciation” (for instance, interest).
When dividing the marital estate, the court may consider the following factors to determine how it should be split between the spouses:
- (1) the length of the marriage,
- (2) the contributions of the parties to the marital estate,
- (3) the age of the parties,
- (4) the health of the parties,
- (5) the life situation of the parties,
- (6) the necessities and circumstances of the parties,
- (7) the parties' earning abilities,
- (8) the parties' past relations and conduct, and
- (9) general principles of equity.
Courts generally prefer that spouses reach a settlement themselves regarding property and debt issues, but will decide on these issues if the spouses are unable to do so.
To fully understand divorce law and family law, it may be necessary to read and interpret statutes with case law and regulatory law. It is important to check to see if laws are up date. For these and other reasons, it is always best to consult with a qualified family law attorney. The legal information on this website is not intended as legal advice and should not be relied on as such. It is intended only as an introduction to the way that the law functions in these areas.
Checked OutDivorceLawyers.com is a great way to find
Michigan divorce laws, including grounds for divorce and other legal information.
It's also the best way to find qualified Michigan separation lawyers, Michigan divorce lawyers, and Michigan alimony lawyers.
To find a checked out Michigan separation, divorce, or alimony lawyer, enter your city and state, above, and click "Find My Lawyer."
Want more information? See How It Works
|
