By David R. Dawson | Published February 29, 2024 | Posted in Divorce | Tagged Tags: equitable distribution, marital home | Comments Off on Who Keeps the Marital Home in a Divorce?
In Michigan, the division of marital property in a divorce is governed by the principle of equitable distribution. The goal is to achieve a fair and just settlement by giving consideration to all relevant circumstances. However, the marital home represents a particularly difficult asset to deal with. It is often the couple’s single most valuable Read More
Read MoreMediation is a process that has gained widespread popularity in resolving various conflicts, including divorce. Mediation offers several potential advantages that can make it a preferable option for couples seeking an amicable and efficient dissolution of their marriage. By discussing issues before a qualified third party, spouses can find common ground on matters such as Read More
Read MoreIn Michigan, the primary goal behind spousal support — also known as alimony — is to equalize the financial standing of the parties, so that one spouse doesn’t experience a significant diminishment in their quality of life because of the divorce. Spousal support is not an automatic right, and various factors are considered when determining Read More
Read MoreThe holidays can be a particularly challenging time for divorced parents who are sharing custody. They must maintain a balance between ensuring their children have a memorable and joyful experience and also managing their households and careers. Several co-parenting disputes can arise during this time, and addressing them proactively can minimize stress for all parties Read More
Read MoreMost people understand the basic concept of divorce as a legal dissolution of a marriage. There is certainly no shortage of news about high-profile divorces and their vivid details. But the average person, in Michigan as elsewhere, may still harbor certain misconceptions about the divorce process. If you’re contemplating the end of your marriage, it’s Read More
Read MoreOne of the most potentially contentious issues in a divorce is the division of property. Michigan, like many other states, typically follows the principle of equitable distribution, which treats the property that either spouse acquires during the marriage as being jointly owned. A notable exception is property that was individually inherited or gifted. However, this Read More
Read MorePrenuptial agreements, also known as premarital agreements, have gained increasing popularity in recent years as more couples enter marriages with their own financial interests and assets. Prenups allow individuals to outline the terms of property division, spousal support, debt management and other issues, thereby avoiding disputes and uncertainties should the marriage end. However, it’s important Read More
Read MoreNavigating a divorce can be an emotionally and legally trying process, and one of the most critical decisions you’ll make is choosing the lawyer who will represent your interests. A capable lawyer can take the workload off your shoulders so that you can focus on other things that are important, like supporting your family and Read More
Read MoreContested divorces are never pleasant or easy. Some spouses engage in inappropriate, disruptive or even illegal behavior during divorce proceedings. Misconduct rarely benefits the person acting badly and typically makes the divorce process more difficult and costly. The following five bad behaviors are all too common and should be scrupulously avoided: Weaponizing children — Divorcing Read More
Read MoreDividing property is an aspect of most divorces, especially for marriages of several years’ duration. Among the most substantial assets that spouses accumulate are retirement savings, such as pension benefits, individual retirement accounts (IRA), 401(k)s and deferred employee compensation packages. These benefits, to the extent they are earned during the marriage, are subject to being Read More
Read More