Divorce law in Michigan is founded upon one simple principle: Property division should be fair. In all too many divorce cases, however, one party is forced to give up too much of the property he or she deserves because he or she is pressured or fatigued from legal machinations. It is important to remember, though, that fair property division is not always synonymous with perfectly equal property division.
Among the most important issues in a divorce property division: whether your property is considered separate or marital. Separate property generally includes keepsakes and heirlooms, along with any items that may have come into the marriage with you. Separate property is only rarely divided in a divorce proceeding — most often, that happens if the property has made the transition to marital property through joint use or it is needed to provide spousal or child support.
Marital property mostly consists of that which you and your spouse have acquired throughout the course of your marriage. Marital property consists of both acquired assets and debts. It is possible for one person to be allocated more marital property during a divorce, for example, though that party may also be responsible for a larger percentage of the marital debt.
The fact is that even if you understand marital property division, you will probably be so emotionally affected by your divorce that you might not make decisions that are in your own best interest. Divorce is one of the most stressful life events, according to a variety of studies and anecdotal evidence. Why make it more difficult on yourself? Instead of struggling through asset division on your own, consider enlisting the help of a qualified family attorney, who can provide you with the information and advice that you need to get a fair shake in your own proceedings.