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A divorce can be a difficult situation but property can make it even more difficult. There are several ways to keep your property separate while you are going through the process of a divorce. One strategy is to identify property that was acquired through an inheritance or a gift. These are yours and your alone.
Property or assets gained during a marriage in Michigan become community property unless you can show why that is your personal property. It’s all about keeping good records about the items that come into your marriage. By keeping a home or property in your name, you retain the rights should there be a divorce. This is also true for inheritance or gifts. Once funds are commingled into a joint account, separation of the funds or property can become a divisive issue for couples. This can easily be avoided by keeping good records in the event that the dissolution of the marriage occurs.
Documentation is the most important aspect of the whole marriage and divorce process. Most people don’t understand this and don’t plan for it. Who wants to plan for a divorce? However, good record keeping will save you many worries. Another consideration is if your paycheck auto deposits into your joint bank account. Making the change in your banking arrangements can prevent you from being taken advantage of. The important thing is that you don’t plan for failure but you protect yourself.
In the end, you have to know what is truly your own and what needs to be split with your former spouse. Being fair, but also standing up for yourself, will help you get through the whole process. Sometimes you have to be tough and sometimes you have to be gracious. It’s all about picking your battles.
If you or someone you know is looking for a family law attorney, contact the Okemos family law firm Bailey Smith & Bailey today.
