Property Division Lawyers Birmingham MI

If you are facing a divorce, property division will play an essential role in the process and will be important to your financial future. The division of marital property in a divorce is often one of the most hotly contested terms, but an experienced property division lawyer in Birmingham, MI, will help ensure that your financial rights are well protected throughout the divorce process and beyond. 

Michigan Is an Equitable Division State

The State of Michigan is what is known as an equitable division state, which means that the property that you acquire over the course of your marriage (regardless of who makes the purchase or whose name is on it) will be divided in a manner that is deemed equitable or fair under the circumstances involved in your marriage in the event of a divorce. That property, however, that either of you brings into the marriage with you – and keeps separate throughout – will likely remain your separate property upon divorce. 

Yours, Mine, and Ours

The line between marital property and separate property can easily be blurred, which makes the matter of property division that much more complicated. A good example includes retirement accounts. If one or both of you brings a retirement account into the marriage with you, it is separate property, but as the account grows in value over the course of your marriage, this increase in value is likely to be deemed a marital asset. Further, determining the value of the account at the time of divorce (prior to its payout date) is complicated in and of itself. 

The Factors Considered by the Court

If the division of your marital property goes before the court, the judge in your case will take wide-ranging factors into careful consideration in the process of making his or her determination, including:

• The length of your marriage
• You and your divorcing spouse’s separate contributions to your marital estate
• You and your divorcing spouse’s age and health status
• You and your divorcing spouse’s separate financial needs and circumstances
• You and your divorcing spouse’s separate earning potentials
• Any relevant spousal conduct (if wrongdoing plays a role in your divorce)
• The general principles of fairness as they apply to your unique circumstances 

Complicating Factors

While even the division of the most straightforward marital property can ultimately prove complicated, there are several factors that tend to make this division that much more so, including:

• Business ownership
• Ownership of properties other than the family home
• High assets
• Complicated financials

  Don’t Wait to Consult with an Experienced Property Division Lawyer in Birmingham, Michigan

The division of your marital assets can prove to be one of the most difficult elements of your divorce, but the established property division lawyers at the Law Offices of Robbins & Licavoli in Birmingham have a wealth of experience successfully guiding cases like yours toward optimal outcomes that skillfully protect our clients’ financial rights and financial futures. For more information about how we can also help you, please don’t hesitate to contact us today.