What Property will I get to Keep in a Divorce?
Are you wondering what property you get to keep in a divorce? This is a common concern. In Michigan, the court looks at all of the marital assets and debts and divides them equitably. This does not necessarily mean exactly 50/50, every marriage is unique and there may be cases where a 50/50 division is not equitable.
After a divorce is filed, a process called discovery is done to find all the assets and debts and to lay them all out on the table for division. The parties, or the court if the parties cannot agree, then determine which property was premarital. This is usually awarded to the person who brought the property into the marriage, but the court may invade this property to achieve an overall equitable division. The marital property is then divided equitably between the parties. Ideally, the attorneys and parties will come to their own agreement on property division. If the parties cannot agree, the court will decide how to divide the property. In most cases, the parties do come to an agreement.