For parents who choose to stay home with children, the stakes leading up to a divorce feel higher. If you find yourself in this situation and worry about your financial security during and after divorce, getting a handle on how a Michigan court handles property division may help.
Under the law, your work status should not negatively impact you as you may believe. Take a look at what a judge considers when deciding who gets what after a divorce.
The court requires you to divide all money, debt and property you and your spouse gathered during your marriage. If you got married and already own assets in your name, those remain yours after a divorce. The exception to this latter aspect is if you chose to combine separate property with your spouse.
You and your spouse decided that you should exit the workforce to take care of your children. Looking back now, you may believe that made you vulnerable and put you in a difficult financial position. However, a judge looks at more than who earned money when deciding how to fairly or equitably divide marital property.
A judge will decide whether your staying home increased your spouse’s earning potential by allowing him or her to concentrate on making money. In this, your role boosted your spouse’s ability to climb a corporate ladder and focus on his or her career. Without you staying at home, this may not have happened.
While it is worrisome to exit a marriage without a steady paycheck, a Michigan court understands that your role in the marriage was crucial to its success.