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Protecting Your Money in a Divorce Hire an experienced divorce attorney. Ideally, this person will emphasize mediation or collaborative divorce over litigation. Open accounts in your name only. Sort out mortgage and rent payments. Be prepared to share retirement accounts.
Michigan is an equitable distribution state. This means courts will attempt to divide property and assets in a divorce in a fair and equal way but it doesnt mean that the assets will always be divided on a 50/50 basis.
A legal separation would mean one spouse may still be eligible for health insurance coverage from the other spouses job, whereas a divorce would end this coverage. A legal separation also allows you and your spouse to continue filing taxes jointly, which can lead to some tax benefits.
The community property rules and 50/50 split are the default rules for a California divorce. That does not mean the parties are bound by those rules. Parties can sign a prenuptial agreement before the marriage that restricts which property and income do or will belong to each party.
There are no rigid rules regarding how assets are divided in a divorce and the law has to be flexible to apply to each case. The Court has wide discretion. There will not necessarily be a 50/50 split of the assets in every case and an equal division of assets may be appropriate in some cases but not in others.
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In Michigan divorce law there are two kinds of property: separate property and marital property. Separate property is any property owned by either party prior to the marriage, and some property acquired during the marriage by gift or inheritance.
California is a community property state, which means that any assets acquired and any debts incurred by either spouse during the marriage belong equally to both spouses.
Some people believe that you have to be married at least ten years to receive spousal support or alimony in Michigan. This is also untrue. There is no specific number of years that one must be married to receive spousal support in Michigan.
Marital Property Is Divided Fairly If you and your spouse cant agree how to divide your property, the judge will decide. Michigan law requires judges to divide property fairly. Fair usually means that each person gets about half of everything.
There is no formula for calculating spousal support in Michigan. Spousal support is decided entirely by the court after evaluating 12 factors. These include each spouses age, health, needs, and earning capacity; each partys conduct and contributions during the marriage; how the marital property was divided; and more.

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