laws of equitable distribution, which means property acquired will be divided between the spouses in a fair and equitable manner. Key aspects of equitable distribution in Michigan: • Fair, not equal: The goal is fairness, which often results in a roughly equal split but allows judges to deviate if circumstances warrant. • Marital vs. Separate Property: Courts first classify property as marital (acquired during marriage, subject to division) or separate (pre-marriage, gifts, or inheritances, generally not divided). • Factors considered by judges: Length of the marriage
Each spouse's contribution to the marital estate Each party's earning power and financial needs
Each spouse's age and health The cause of the divorce (fault) The needs of any children
• Marital Debt: Debts incurred during the marriage are also subject to equitable division, often alongside assets. How it works in practice: • Agreement: Spouses can negotiate and agree on a fair division in a marital dissolution agreement. • Court Decision: If they can't agree, a judge decides based on the established factors, ensuring the division is equitable under the circumstances. NOTE: Always consult with your attorney for actual legal advice. The court determines who receives what based upon a variety of factors, such as the relative earning contributions of the spouses. In community property states, on the other hand, all income and assets earned or acquired during the marriage are considered to
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