Michigan Family Law - Property Division
When a couple decides to separate or divorce, all marital property must be distributed between the parties. This is done through either a separation agreement, negotiated out of court, or through a court order that will involve a three-step process called “equitable distribution.”
For help with your property division issues, contact The Stroble Law Firm P.C. today. Based in Bloomfield Hills, The Stroble Law Firm represents clients across Michigan, including Macomb County, Oakland County, Warren, Clinton Township, Sterling Heights, St. Clair Shores, Mount Clemens, Utica, Roseville, Troy, Farmington Hills, Waterford, Southfield, Pontiac, Birmingham Michigan, Rochester Hills, West Bloomfield and Bloomfield Hills. Call The Stroble Law Firm at (888) 454-0801, or contact us online.
Equitable distribution does not require an equal division of property but instead a division that the court deems to be “fair and just.” However, the division generally results in an equal division of property.
First, the court will determine what assets and debts of the parties are “marital,” meaning they were acquired during the course of the marriage, and what property is “separate,” meaning it was acquired either before the marriage or during the marriage by gift or inheritance.
Keep in mind that property obtained during the marriage with separate funds that is not commingled with marital property — for instance, a car titled in only one spouse’s name — does not lose its character as separate property and cannot be distributed upon divorce.
Second, the court will assign a value to the marital assets and debt. This can either be a simple or complex stage in the process depending on the type of property involved. Items such as cars, electronics and jewelry can be more readily valuated than businesses, bank accounts, stocks and retirement funds.
Finally, the court will divide the property by looking at a variety of factors, including:
- Duration of the marriage
- Contributions of each party to the marriage
- Age of the parties
- Health of the parties
- Life status of the parties
- Necessities and circumstances of the parties
- Earning abilities of the parties
- Past relations and conduct of the parties
- General principles of equity, or fairness
All three steps in the equitable distribution process can present complex issues. At The Stroble Law Firm P.C., we believe you should work with a divorce attorney who has experience going through these issues and who will aggressively protect your assets and interests.
While a trial may be needed in some cases, alternative forms of resolution may also be used. Our property division lawyers believe strongly in using mediation and arbitration to distribute property after a marriage, which reduces cost and time spent on the matter.
Our divorce lawyers have helped clients throughout the state of Michigan in obtaining equitable distribution court orders and settlement agreements.
Call The Stroble Law Firm at (888) 454-0801, or contact us online.
