Tips on Preparing to Divide Your Marital Assets

Every state in America offers some kind of no-fault regulations, although Michigan is a true no-fault state. That simply means the state doesn’t hear traditional blame situations during the divorce hearing. Approximately 80% of no-fault divorces go uncontested which expedites the process and encourages faster healing. However, many couples still postpone the inevitable due to worries and concerns over splitting assets during a divorce. Your Michigan divorce attorney can always help with this if or as problems arise, but it’s good to know some tips to help you do as much as possible on your own off the clock.

Try to Keep the Divorce Communication Open and Civil

Your divorce will involve heavy communication with your Michigan divorce attorney and your spouse. The more open and civil you can keep that communication, the better for all involved. Do not try to hide assets, accounts, or proof of income because those will be discovered, and legal trouble can follow the attempted deceit. Be honest and respectful to your attorney and spouse during this process to help ensure your divorce goes as quickly and smoothly as possible.

Know What Assets and Liabilities You Personally Have

The best way to know exactly what you’re dealing with is to make a detailed list of all your assets and financial liabilities. Keep in mind that anything you want to fight for in the settlement will be your sole responsibility after the divorce. Include all property, vehicles, credit cards, loans, and important or valuable items purchased or received during the marriage–which is from the date of marriage to the date of divorce. Anything you brought into the marriage from when you were single can still be yours. But your Michigan divorce lawyer will need to have a complete asset readout to reach a fair settlement.

Decide Which Assets and Liabilities You Want and Can Maintain Post-Divorce 

You won’t be able to take everything with you after your divorce, and chances are you won’t get everything you want. But Michigan divorce law does require a fair and equitable split of marital assets and property between spouses. Once the list is compiled on your end, attempt to compare it with your spouse’s list if possible. Then initial items you want versus items that are important to them. Try to keep it fair and civil. This isn’t a competition. And if an agreement can’t be made, the courts will do it for you, but it may add to the cost of your divorce. So try to do as much as possible on your end first.

Avoid Drama and Keep Your Emotions in Check

The courts have the final say in how your assets are split, so keep the drama and emotions to a minimum. The judge isn’t going to care if your ex is dating again, what names were slung over the weekend, or if your ex spoiled the Doberman with too many treats over the weekend. The only thing that matters regarding splitting assets during a divorce is whether the split is fair and equitable between both sides. Drama and overly emotional behavior will only look bad on your part and possibly have the judge favoring your ex’s petition over yours in the event the court needs to be the deciding factor. Contact a Michigan divorce attorney for help to control your emotions during the divorce process to ensure the best outcome as possible on your end.