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Michigan Property Rights FAQ's By Butler, Durham & Toweson
Published: July 17, 2004
Is Michigan a community property state?
No. Michigan is an equitable distribution state which means that the court may distribute any assets of either party in any manner it sees fit. The standard is that the property division must be fair and equitable under all of the circumstances of the case.
What does the judge look at?
The judges look at essentially the same standards as for the determination of whether spousal support should be awarded; including: the past relations and conduct of the parties, the length of the marriage, the ability of the parties to work, the source and amount of property awarded to the parties, the age of the parties, the ability of the parties to pay spousal support, the present situation of the parties, the needs of the parties, the health of the parties, the prior standard living of the parties, whether either party is responsible for the support of others and general principals of equity.
Will I receive half of all of the assets?
Not necessarily. You may get more or less than fifty percent if such a division is fair and equitable.
Is my husband's pension an asset?
A pension is a marital asset which the court must consider in the overall division of marital assets. The present-day value of the pension may be considered and you may receive the value of offsetting property or the pension may be divided by a Qualified Domestic Relations Order or an Eligible Domestic Relations Order.
What are those two orders?
QDROs and EDROs are court orders which direct the pension manager to divide an individual's pension in a specified manner awarding to the other spouse either a finite amount of money or a percentage of value of the pension. Those orders may include survivorship interests, pre- and post-retirement benefits and the like. These are very technical documents and can be extremely difficult to draft. Some companies have a model QDRO or EDRO which they will accept.
What about my inheritance?
Your inheritance is generally not a martial asset subject to division, unless you placed it in your spouse's name, or your spouse contributed to its acquisition, improvement or accumulation.
Last modified: January 13, 2005 - 10:45 AM
Published: July 17, 2004
Is Michigan a community property state?
No. Michigan is an equitable distribution state which means that the court may distribute any assets of either party in any manner it sees fit. The standard is that the property division must be fair and equitable under all of the circumstances of the case.
What does the judge look at?
The judges look at essentially the same standards as for the determination of whether spousal support should be awarded; including: the past relations and conduct of the parties, the length of the marriage, the ability of the parties to work, the source and amount of property awarded to the parties, the age of the parties, the ability of the parties to pay spousal support, the present situation of the parties, the needs of the parties, the health of the parties, the prior standard living of the parties, whether either party is responsible for the support of others and general principals of equity.
Will I receive half of all of the assets?
Not necessarily. You may get more or less than fifty percent if such a division is fair and equitable.
Is my husband's pension an asset?
A pension is a marital asset which the court must consider in the overall division of marital assets. The present-day value of the pension may be considered and you may receive the value of offsetting property or the pension may be divided by a Qualified Domestic Relations Order or an Eligible Domestic Relations Order.
What are those two orders?
QDROs and EDROs are court orders which direct the pension manager to divide an individual's pension in a specified manner awarding to the other spouse either a finite amount of money or a percentage of value of the pension. Those orders may include survivorship interests, pre- and post-retirement benefits and the like. These are very technical documents and can be extremely difficult to draft. Some companies have a model QDRO or EDRO which they will accept.
What about my inheritance?
Your inheritance is generally not a martial asset subject to division, unless you placed it in your spouse's name, or your spouse contributed to its acquisition, improvement or accumulation.
Last modified: January 13, 2005 - 10:45 AM
작성일2007-10-27 22:56
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