Michigan Property/Asset Division - DV ChargesCall Me: 248-924-9458
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The court may also consider other factors that may be relevant to the division of marital property in Michigan.What is considered marital property in a Michigan divorce?In Michigan marital property begins at the wedding and continues until the judgment of divorce, regardless of when the parties cohabited or separated. If property is received after the judgment, but earned during the marriage, it will be considered marital property in Michigan.
The value of marital property in a Michigan divorce can be difficult to determine due to the accumulation, appreciation and depreciation of property. A Michigan divorce court will use a date of valuation that is supposed to encourage rational economic behavior. The goal of the court is for the value to remain high, without either party having an incentive to affect the value. In Michigan courts will use a number of factors for dividing the marital property. The court will look at the length of the marriage, the needs of the parties, the needs of the children, the earning power of the parties, the source of of the property, where the contributions toward property acquisitions came from, and the cause of the divorce, including the issue of fault in the breakdown of the marriage. Although fault can play a role in the court's decision, it cannot be the sole reason, and cannot be used as a means to punish a party for their actions. |
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