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June 2011 Archives

Michigan Divorce Bills Seek Radical Change in Marital Property

Two proposed pieces of Michigan legislation aim to create a dramatic shift in the distribution of assets for divorces where a spouse owns a business that prospers during the marriage. Presently, the law treats the growth or appreciation of a business occurring during the marriage as marital property, resulting in a 50/50 split between the spouses. The new law proposes a complete policy change and would generally classify appreciation in the business during the marriage as property of the spouse owning the business.

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