Division of Assets
Fair Settlements in the Division of Assets in Michigan Divorce
The law requires an equitable split of property and debts. But a truly fair settlement requires starting with solid numbers. The Dorn Law Firm protects your interests through accurate valuations and creative asset division. Divorce lawyer Heather Dorn will work to secure efficient, out-of-court property settlements to minimize the hassle and cost or will go to court to ensure you get your share.
Call our Southfield, Michigan law office at 248.438.8716 or contact us online to schedule a consultation about divorce, asset division and other divorce planning. Our office serves men and women in Oakland County, Wayne County and Macomb County, and the metro Detroit area.
What's in the Pot? What's It Worth? Who Gets What?
Divorce attorney Heather Dorn brings 13 years of experience to your case, including division of large and complex marital estates. She begins by determining what is joint property and what is separately owned by you or your spouse. Valuations of assets are often contested, so our firm works with professionals to verify the value of:
- Pensions — A Qualified Domestic Relations Order (QDRO) may be needed to divide pension benefits, 401(k) plans, and other retirement assets. If you contributed before you were married, that portion is not subject to asset division. Ms. Dorn formerly worked for Consolidated Legal Services, representing carpenters and other union workers. She has an in-depth understanding of double pensions (state, international and supplemental pensions).
- Real property — We get an accurate valuation on the primary residence, and non-homestead properties such as an Up North cottage.
- Other assets — We can determine the worth of a professional practice or closely held business, as well as antiques, classic cars and other unusual valuables.
- Debts — Jointly held loans and unsecured debt (credit cards) are divided evenly.
Ms. Dorn is skilled at the trade-offs that allow each partner to get what they want most from the settlement. If one party is keeping the house to raise the children, for example, the other may get a greater share of the pension or the vacation property. She will advise you regarding tax considerations of property decisions.
The Dorn Law Firm works to move the process of dividing marital property along, rather than drag it out through unnecessary litigation. However, we will fight for your rights if the other party is trying to shield assets or gain an unfair advantage.
Spousal Support
At separation, a temporary order for spousal support is commonly issued to preserve the standard of living of a spouse who earns less. When awarded in divorce, alimony is not meant to be permanent support unless the recipient spouse can't work. Rather, spousal support is meant to be a bridge to self-sufficiency. It is more common in longer marriages, especially if one spouse was the bread-winner and the other a stay-at-home parent. Ms. Dorn can advise you whether spousal support is likely be awarded by a judge. If so, it can be an important negotiating tool in the property settlement.
Contact our Southfield office to arrange a confidential initial consultation about divorce and asset division. We offer evening and weekend meetings by appointments, and we accept major credit cards.
