Call Dave Today!
Allocating Assets After Divorce
Michigan law requires an equitable division of property between spouses, which varies based on individual circumstances. An experienced attorney can help identify property that is rightfully yours and determine if one spouse might be awarded more than 50% of an asset’s value.
Contact us today to learn how we can help you get the property you deserve.
Marital Property May Include:
- Real estate
- Business interests
- Investments and financial accounts
- Retirement and pension accounts
- Cars, boats, snowmobiles, motorcycles, RVs
- Pets
- Furniture, collectibles, and personal property
- Electronic currency (Bitcoin, cryptocurrency) and assets
- Credit cards, loans, and other debts
Who Owns What?
Property in divorce is generally divided into two categories:
- Marital Property: Includes all assets and debts acquired during the marriage, such as incomes, mortgages, stocks, and automobiles. Even if an asset is titled in one spouse’s name, it may still be considered marital property if acquired during the marriage.
- Separate Property: Includes assets owned by a spouse before marriage or received as a gift or inheritance during the marriage.
Sometimes, marital and separate property can become mixed together, or “commingled.” For example, a separate bank account may become marital property if the other spouse contributes or if either party deposits marital funds. A qualified divorce lawyer can help determine what assets should be considered marital versus separate property.
If you’re having difficulty making this determination, contact Sarnacki Law Firm.
How Property Division Is Determined in Court
If you take your property division case to court, a judge will consider several factors to determine how to allocate the assets. There is no set formula, but common considerations include:
- Length of marriage
- Contributions to marital estate
- Age
- Health
- Life status
- Necessities and circumstances
- Earning ability
- Past relations and conduct of parties
- General principles of fairness
High-Asset Divorces
High-asset divorces require an especially skilled attorney due to the complexity of valuating assets, business interests, dealing with pension and retirement plans, discovering hidden assets, understanding tax consequences, and navigating premarital (or postnuptial) agreements. Sarnacki Law Firm in Grand Rapids has the experience and expertise to handle complicated high-asset cases.
We Are Currently Accepting New Clients
If you and your spouse cannot agree on property division, Sarnacki Law Firm can help. With four decades of hard-fought litigation experience, Dave Sarnacki is equipped to handle complex, high-asset, high-stakes cases. If your future matters to you, you need and deserve Sarnacki Law Firm.
Contact Us Today
Schedule an initial case assessment consultation today to ensure you get your fair share of the property interests and have a good foundation for moving forward with your life.
