Marital Property Division

marital property divisionAt Kathryn Wayne-Spindler & Associates, we help clients through the process of marital property division in a divorce. We know that every individual and family has a unique set of circumstances.  We will help you determine whether or not your asset is marital or separate. We have experience dividing all types of assets:

  • Businesses
  • Real estate
  • Homestead
  • Retirement assets
  • Savings accounts
  • Inheritances
  • Debt

Marital Property Division in a Michigan Divorce

In a marriage dissolution, one of the areas of contention between spouses is marital property division. Michigan is a “no-fault” state. Generally, this means the court will divide the property equally. Separate property is not subject to marital property division. However, a court can determine if there is a need to deviate from a 50-50 split. In extreme circumstances of fault, including infidelity and domestic violence, or when there is a large disparity in income between the parties, the court may order an uneven marital property division. Although it may not be “even” it is what the courts consider “equitable.”

Will the Court Consider That My Spouse Cheated?

Infidelity is one of the leading causes of divorce. Michigan is a “no-fault” state — which means fault is not necessary to dissolve your marriage — and that courts do not always take into account a spouse’s infidelity.  However, in some circumstances, the courts will consider the actions of a cheating spouse when ruling on marital property division.

Dividing Property When One Spouse Cheated

Fault can come in the form of infidelity, domestic violence and alcohol, drug or gambling addictions. Most cases do not involve fault at all.  In cases where fault is clear, a court may deviate from the 50-50 standard for marital property division to punish the person who has been unfaithful or attempt to help the aggrieved spouse. Any funds spent on an outside love interest while you were married — apartments, trips, jewelry, cars — can be required to be paid back into the marital estate. For example, if your husband bought a condo for his mistress, the court may order the condo sold and award you all of the proceeds from the sale.

Our experienced Walled Lake Attorneys can help find hidden assets

One of the most contentious aspects of a divorce is marital property division and debt.  This is especially true when one party suspects the other of hiding assets or if separate assets are commingled in investment accounts, businesses and real estate property. There are at least 10 basic steps to tracking down hidden assets.  Beyond the basics, Kathryn Wayne-Spindler & Associates will help you locate hidden assets that are available for separate or martial property division from your asset portfolio.  Our attorneys have experience finding assets by uncovering tactics such as:

  • Putting assets in a child’s or a friend’s name
  • Moving money to an offshore account
  • Hiding assets in the family business
  • Failing to provide information about investments and other unknown financial decisions

Retirement Assets, 401(K) and pensions in divorce

In all marital property division, and especially high-asset divorce, our attorneys are ready to fight for your interests in all matters relating to:

  • Retirement assets
  • 401k and 403b retirement accounts
  • Pension
  • Real estate holdings
  • Spousal support
  • Securities and stock market accounts
  • Business valuation and ownership

Don’t Forget About the Debt

Especially in today’s economic climate, it is important not to forget about the debt.  Like assets, debts are also generally divided equally; however, good legal counsel can sometimes give good cause to deviate from this presumption. Sometimes courts will agree to divide it proportionate to income.

Contact Kathryn Wayne-Spindler & Associates at 248-676-1000 to schedule a consultation to discuss marital property division and divorce.

Kathryn Wayne-Spindler & Associates have many satisfied clients throughout the five counties of Southeastern Michigan – OaklandWashtenaw, Wayne, Genesee and Livingston. The Michigan Family Law Attorneys of Kathryn Wayne-Spindler & Associates have one simple objective: to handle our clients’ legal worries so they can concentrate on life and family. Contact Kathryn Wayne-Spindler & Associates today to learn more about our experience and success at 248-676-1000. We are conveniently located in Milford, Michigan. We help clients throughout Milford; Highland; Hartland; White Lake; Commerce; Waterford; West Bloomfield; Walled Lake; South Lyon; New Hudson; Wixom; Linden; Holly; Fenton; Grand Blanc; Flint and many more local communities.

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