Commingled assets happen when you mix business and personal finances, like using company funds for personal costs or personal money to pay business bills. While this may have been the best decision when starting a new business or during financial emergencies, it can...
Property Division
How does age affect property division in divorce?
Divorce is rarely straightforward, and dividing marital property can add another layer of complexity. Michigan follows equitable distribution, meaning a fair split rather than a strict 50/50 division. Interestingly, age can influence how the property gets divided....
Places your spouse could be hiding assets during your divorce
In a high-asset divorce, it is important to stay alert to the chance that your spouse might hide money or property. Divorce cases often reveal secret financial assets that one person may try to keep hidden. To ensure a fair division of property, it is important to...
Could the court award your separate property to your ex-spouse?
Michigan law recognizes the concept of separate property, which refers to assets one spouse acquires before the marriage or obtains through inheritance or gifts during the marriage. The general principle is that each spouse maintains ownership of their separate...
How does a prenuptial agreement affect property division?
A prenuptial agreement can significantly impact property division in Michigan. Couples can create these legal contracts before marriage to outline how they will split assets and debts in a divorce. Understanding the effect of a prenup on property division can ensure a...
How to discover hidden assets
If you are going through a divorce, property division is an important focus. However, some spouses hide assets to avoid having to share them with the other spouse. If you suspect that your spouse is not being fully transparent about finances, there are some common...
Your divorce and the correct distribution of retirement funds
Retirement funds often become a focal point during the property division phase of a divorce. You may wish to brush up on applicable laws to increase your comfort level because dividing retirement accounts can become a complex process. Understanding the QDRO A...
4 tips to help you prepare your finances for property division
Divorce is a major event for any couple, and the idea of facing property division can seem overwhelming. Preparation is key. Here are four tips to help you get your finances in order so you can approach the task of dividing assets with greater confidence. 1. Gather...
Where can a spouse hide income during a divorce?
Some divorces proceed amicably with each spouse being open about the assets they own to ensure a fair division of marital property. Unfortunately, this is not always the case. You may have reason to suspect that your spouse is hiding money from you. You could be at a...
Divorce, property division and the fate of the family business
Over the course of a long marriage, you have no doubt acquired significant assets. Perhaps you have also built the most valuable asset: your family business. As you face the property division phase of your divorce, you worry about the disposition of the business. Here...