Myth Buster #2 |
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| Written by Jamie O'Brien |
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Common myths and misconceptions in family law in Michigan.
Typically, under Michigan law, all assets that were acquired during a marriage are divided equally. This means that any equity in a marital home that accrued during the marriage usually will be divided equally. There are many ways to ensure that both parties receive that equity when the divorce if finalized, for example: a cash payment; exchange for other marital property; or through a transfer of retirement or investment accounts. Just because one party moves out of the marital home does not mean that person loses their share of the marital equity or any marital personal property left in the home. However, usually, a person who moves out still has to bear their share of the marital expenses related to that home. If a person moves out but stops paying their share of the expenses that he or she paid during the marriage, a Judge might order that person to continue the status quo and possibly order him or her to pay for their share of any previous bills he or she left unpaid since moving out. |
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