Troy Property Division Lawyers
In determining how to divide marital assets and debt, Michigan law calls for “equitable distribution.” This does not mean that all marital property is split 50-50. Rather, it must be divided in a way that is fair and equitable to both parties.
The division of property begins by identifying what is marital property and what is nonmarital property. Any property or debt that was acquired by either spouse during the marriage is considered marital property even if one spouse’s name is on the title. Assets and debt that an individual brought into a marriage are generally considered nonmarital property, as are gifts or inheritances, as long as they are not combined with marital property.
Resolving Property Division Matters In Michigan
At Sakis & Sakis, PLC, in Troy, our experienced family law
attorneys help individuals protect their rights and resolve property division matters in divorce. We often help our clients reach agreement in this area without the need to litigate. If both parties in divorce cannot reach agreement on the division of marital property, those decisions will be made by a judge, who considers a number of factors, including:
- The length of the marriage
- The contributions of each spouse to the marital estate, including caring for children
- The age and health of each spouse
- The earning ability of each spouse
- Each spouse’s financial needs
- General principles of equity
We represent individuals throughout the Tri-County area from diverse economic backgrounds, including those with substantial assets. We have the knowledge and the resources necessary to accurately assess the value of complex holdings to ensure equitable division of marital property.
Meet With Our Experienced Oakland County Property Division Lawyers
If you have questions or concerns regarding the division of marital property in your divorce, we can help. Contact us
to schedule a free, no-obligation consultation. We will review the facts of your case and provide a candid assessment of what you might expect in a divorce settlement.