As an equitable distribution state, Michigan law does not require a 50/50 split of a couple’s marital property. Rather, the law requires that the property be divided in a fair and equitable manner. Property division is frequently one of the most highly contested portions of a divorce, and the assistance of a reliable lawyer can help to ensure that you receive a fair property settlement.
The attorneys at Iafrate & Salassa, P.C., have represented countless clients in these frequently complex cases. From determining if a business valuation is necessary to the division of personal property, we do everything in our power to protect your interests at all times.
In every marriage, there are two types of property: separate property and marital property. Separate property consists of anything you owned independently prior to the marriage, inherited or received as a gift. Conversely, marital property is anything that you and your spouse acquired during the course of your marriage. During divorce proceedings, only marital property is generally considered part of the marital estate and, thus, subject to division. However, in some cases, separate property can be viewed as marital property as a result of commingling or other means.
We take the time to fully understand your goals with regard to the division of assets and develop a plan designed to help you reach them. If there is a dispute over whether a particular asset is separate or marital property, we will present the strongest possible argument to support your position.
Contact our Clinton Township law office today to discuss your property division concerns with a lawyer. We offer a free initial consultation to each client. You can reach us by phone at (586) 263-1600 or via our online contact form to get started.
Yes, separate property can be treated as marital property if it has been mixed, or commingled, with marital assets or used for marital purposes. For example, using an inheritance to pay for a family home could complicate its classification. Our attorneys can help you clarify the legal status of your assets during the division process.
Disputes over asset valuation, such as real estate or businesses, are common in divorce. In these cases, professional appraisals or valuations may be necessary. Our attorneys can help coordinate these efforts and advocate for a fair resolution.
Businesses are often one of the most complex assets to divide. Factors like ownership, contributions, and valuation play a significant role. Whether you’re a business owner or your spouse owns a business, our team can help protect your financial interests.
Retaining the family home depends on factors like financial feasibility and whether it aligns with your long-term goals. Our attorneys can help you evaluate your possible options, whether it’s keeping the home or negotiating a fair buyout.
Retirement accounts, including pensions and 401(k)s, are generally divided equitably according to the amount gained during the marriage. This is typically done through a Qualified Domestic Relations Order (QDRO), which ensures the division complies with legal requirements and avoids penalties.
Protecting your financial interests starts with understanding your rights and gathering documentation of all assets and debts. Our attorneys can help you develop an appropriate legal strategy designed to protect your financial future.
Call today or fill out the form below.
Copyright © 2022 Iafrate & Salassa PC. All rights reserved | NUVEW | Accessibility Notice | Privacy Policy
Attorney Advertising. This information is designed for general information only. The information presented should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Past results and testimonials are not a guarantee, warranty, or prediction of the outcome of your case, and should not be construed as such. Past results cannot guarantee future performance. Any result in a single case is not meant to create an expectation of similar results in future matters because each case involves many different factors, therefore, results will differ on a case-by-case basis. By providing contact information, users acknowledge and give explicit consent to be contacted via the methods of communication provided, including SMS. Message and data rates may apply. Message frequency may vary. Reply STOP to opt out.
