Michigan Divorce & Finances

Written by FreeAdvice Staff
Sponsored Ad
Joint finances, assets, property and debts need to be sorted out when a couple divorces. Michigan has its own system and rules for determining how finances are divided at divorce. How will you divide property? Will there be tax consequences? Do you need to consider estate planning consequences? Will there be spousal support, and if so, how much and for how long? Following are laws specific to Michigan Divorce and Finances.

Michigan Property Division/Community Property/Debts:

Michigan is an equitable distribution state. This system is also called common law or marital property. For an explanation of community property rules and the division of property in community property states, see Dividing Up Property in a Divorce: Community Property vs. Equitable Distribution.

Michigan Spousal Support:

Spousal support, called alimony in Michigan, is a regular amount of money that a court of law orders a person to pay to their partner after a divorce. Whenever the court issues a decree for divorce, the court may also issue an order at the same time that either the husband or wife pay support to the other spouse. Alimony may be ordered if the property awarded to a party in a divorce is not sufficient for that party’s maintenance. The amount of alimony and the length of time it will be paid are determined by the court after considering the ability of either party to pay and the character and situation of the parties, and all the other circumstances of the case. As an alternative to spousal support, the court can adjust the property division between the parties.

You may need a lawyer to help you deal with the financial aspects of your divorce if you and your ex cannot agree. You can find a lawyer at:

Michigan Divorce/Child Support/Child Custody Lawyers:
Find an experienced Michigan Divorce Attorney at AttorneyPages.com
Find an experienced Michigan Child Support/Custody Lawyer at AttorneyPages.com
How a Family Lawyer Can Help

Have your case evaluated by an EXPERIENCED DIVORCE ATTORNEY.
It's free and there is no obligation.

Sponsored Form
 
   
(optional)    

Are you and your spouse attempting to reconcile?
Do you currently have an attorney of your own?
How soon do you expect to hire an attorey?



How do you plan on financing your divorce case?



What is your approximate annual income?
What is your spouse's approximate annual income?
What property do you and/or your spouse own?
(select all that apply)







How many children are involved?
Include their ages, sex and where they are living.

Have you read and accepted the Terms and Conditions?
What is the current year?
(Used to block spam)
Your information is transmitted securely
View Related Michigan Divorce Articles View the Next Article

Didn't find what you were looking for?

Make it Social

Inexpensive Online Divorce Services
Powered By LegalZoom
Sponsored Ad