Helping You Receive Your Fair Share Of Marital Property
Property shared and acquired during a marriage can be difficult to untangle in a divorce — especially when you are in the midst of the emotional upheaval that comes with ending a marriage. Whether your marital estate is large or small, it can be immensely helpful to have an experienced property division attorney on your side.
At The Kizer Law Firm, P.C., we have extensive experience in the equitable distribution of marital property in Michigan. Note: “equitable” does not always mean “equal.” We can help ensure that you receive your fair share of the value of marital assets.
How Is Marital Property Divided In Michigan?
In general, marital property is any property acquired by either spouse during the marriage. The presumption in Michigan is that marital property will be divided equitably, and that often leads to a roughly equal division. However, an accurate valuation of assets is very important for a fair division, especially if high-value, complex assets are involved.
There is also the question of separate property, which is generally defined as property acquired by either party prior to the marriage, or property acquired during the marriage by gift or inheritance. Separate property is not necessarily subject to division between the spouses. However, it is possible for separate property to become marital property — particularly when separate property becomes intermingled with marital property. For one spouse to claim separate property, that spouse generally must prove that the property is separate and not marital.
To reach an equitable distribution of marital assets and debts, courts in Michigan may consider a variety of factors. Those factors may include:
- The source of the property in question
- Each spouse’s contribution to acquiring the property
- How long the spouses have been married
- Each spouse’s earning ability
- The needs of the spouses and their minor children
- Other issues the court deems relevant
Marital property division can also affect the determination of spousal support. If you have questions about spousal support or property division, our attorneys can help.
Types Of Marital Property
Many types of property may be subject to division in a divorce. When high-value assets are involved, the importance of an accurate property valuation cannot be overstated. Common types of marital property in Michigan include:
- The family home
- Vacation homes
- Rental properties
- Retirement plans such as 401(k)s, IRAs and pensions
- Stocks and other investments
- Business assets
- Art and home furnishings
Complex marital estates often require thoughtful, strategic negotiation to achieve a fair division of property. The Kizer Law Firm, P.C. can help you do that.
To set up a consultation, please call The Kizer Law Firm, P.C. at 517-507-4873 or complete our contact form. We represent clients in Howell, where our office is located, as well as in Brighton and throughout Livingston County.