Divorce- Division of Assets in Michigan
How are assets divided?

Michigan divides marital property using the theory of "equitable distribution". Equitable distribution states divide property based on a determination of what's fair under the circumstances of each case, it doesn’t mean that the assets will always be divided on a 50/50 basis.
In a divorce, there are marital assets and separate property .
Marital assets are those accumulated during the course of the marriage up until the day of divorce. And, it doesn't matter which spouse technically earns the asset. Also, it is important to note that the name on the title of property doesn't necessarily determine who owns it.
Separate property is any property owned by a spouse prior to the marriage as well as some property that has been acquired either by a gift or inheritance. Sometimes, even inadvertently, your separate property could become commingled property, which essentially turns it into marital property.
Equitable distribution consists of the court deciding which assets are marital vs. separate property, placing a fair market value on each asset, and then actually dividing the assets. The division of assets is presumed to be fairly equal and a court must clearly explain if there is a deviation from this guideline. The origin of property owned at the time of the divorce may determine whether it is considered part of the marital estate.
Most property is divided by the parties working with their family law attorneys and made part of a settlement agreement. Property division is one of the areas in a divorce with the most room for negotiation.
If you, a friend, or a family member has questions, we can help. Please call us. Let our family, help your family!
2304 East Eleven Mile Road
Royal Oak, Michigan 48067
Telephone: (248)-541-3400 or (800)-LAW-5454
Facsimile: (248)-541-6332
info@melderandmelder.com
www.melderandmelder.com


Going through a divorce is often challenging, especially when children are involved. Fortunately, at Melder & Melder, P.C., our child custody lawyers at can help. We understand the sensitivity of child custody matters including support and visitation, and that each family's situation is unique. Our skilled attorneys are committed to finding solutions that respect the rights of our clients, while still serving the best interests of the children.
As our client, we will stand with you throughout the entirety of your divorce and make sure that you are protected and defended. You will always be told the truth, and we will listen to your concerns, and answer any questions that you may have regarding your matter. Thought the process we explain how the system works, and recommend strategies and approaches to the issue at hand.
Call the Law Office of Melder & Melder, P.C., and let our experience, knowledge, and skill, assist you in the toughest of circumstances.
Melder & Melder, P.C.
2304 East Eleven Mile Road
Royal Oak, Michigan 48067
Telephone: (248)-541-3400 or (800)-LAW-5454
Facsimile: (248)-541-6332
