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Divorce is a complicated process, particularly when there are children involved or complex property division issues. Property division hearings in a divorce are some of the most contentious, particularly when complex property is involved. Some of the most complex property division issues in divorce include multiple assets, substantial wealth, and complex assets, such as retirement accounts. When these types of issues are involved in your divorce case, it is crucial that you speak to an Oakland County complex property division lawyer for help.
Michigan is an equitable distribution state, which means that marital assets and debts involved in the divorce are divided equitably or fairly. Many people believe that this means property is divided equally, with each spouse receiving 50%. That is not the case. In some divorces, the division of property will closely resemble this type of split but in other cases, the division may favor one spouse over the other. In all divorce cases, only marital property, which is acquired by either or both spouses during the marriage, is divided.
Complex property in divorce usually includes assets that are difficult to value, commingled property, and substantial amounts of marital and separate property. A few examples of complex property division issues include:
Working through these complicated issues on your own may result in a forfeiture of your rights. An Oakland County complex property division lawyer can help you understand what is involved in these complicated issues, and ensure your rights are upheld.
Divorce is difficult, and most people should work with a lawyer who can help them through the process. When complex assets and debts are involved, however, it is crucial that you work with an Oakland County complex property division lawyer. At Iafrate & Salassa, we understand how complicated property division issues can become, and how to work through them to ensure you retain the things most valuable to you. If you are going through a divorce, call us or contact us online to schedule a free consultation and to learn more about how we can help.
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