Ideally, divorcing couples would agree on how to divvy up assets acquired during the marriage. In reality, it’s not always possible to compromise, making it necessary for a court to step in to distribute property. Asset division requires meticulous analysis of all assets and debts, so that each spouse receives his or her just share. With emotions running high during a divorce, disputes over property are common. The ensuing legal battle can be costly and time-consuming.
Our lawyers at Benson & Associates possess the attention to detail necessary to effectively represent clients in asset division matters. We can assist you in preparing an agreement with your spouse by helping you make informed decisions on property distribution and offering simplified explanations on complex legal concepts. In the absence of an agreement, our attorneys will fight for your rights in court.
At the outset of asset division, it’s necessary to categorize property into marital and non-marital. Items belonging solely to one spouse are not subject to property distribution, but the line isn’t always so clear-cut. A Benson & Associates lawyer can help you understand the important distinction between marital and non-marital assets, and explain the treatment of inheritance, separate property, retirement accounts, and gifts. A court will only consider marital property when making a fair and reasonable distribution of marital assets, based upon such factors as:
There are other circumstances that impact asset division as well. The existence of a prenuptial agreement, potential spousal support in connection with the divorce, and the needs of minor children may factor into a judge’s distribution of marital property.
It’s critical to address all matters involving property distribution when going through the divorce process in Michigan because, unlike issues involving child support, custody, and alimony, an asset division is final. Absent wrongdoing, you cannot modify the order further down the road.
Dividing up marital property in a divorce can be among the most hotly contested issues in your case, and Michigan laws on asset distribution are complicated. Without a skilled attorney on your side, you’re at a disadvantage and your legal rights are at risk. The experienced lawyers at Benson & Associates will fight to protect your interests, both in court and during negotiations with your spouse. We’ve been providing responsible, knowledgeable legal services to clients in Oakland, Wayne, Macomb Counties for more than 70 years, and we’re here for you. If you have questions about asset division in your case, please call our Southfield, MI office at 248-357-3550 or contact us online to schedule a consultation regarding your matter.
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