For many divorces, especially divorces between high net worth individuals or couples with expensive or large assets, property division and asset division is one of the most controversial issues. Many divorcing couples end up competing for specific assets or for a greater share of the assets, and when the courts get involved, things can get messy. It is mainly for this reason that high-asset couples may wish to consider resolving disputes over asset division between themselves.
Even though all matters of a divorce can be handled through the courts, there is something to be said for resolving an issue outside of court. Generally speaking, coming to an agreement outside of the courts leads to fewer feelings of hostility, and couples can simply talk between themselves about which assets should go to whom and why. Some couples may find that they can agreeably divide particular assets, which can be preferable to the courts assigning assets based on certain factors.
One way in which you may be able to let your asset division preferences be known is to fill out aproperty settlement agreement. In such an agreement, couples can provide a detailed list of assets, how much they are worth, and the ways in which they wish to divide the assets.
Unfortunately, couples are not always able to agree on asset division, and sometimes property division must be left up to the courts. If it comes to this, high-asset couples are strongly encouraged to enlist the aid of an attorney to help them navigate the choppy legal waters of property division. Different states have different laws and precedents regarding marital property, so if you wish to make the most out of your Michigan divorce, it is a good idea to speak with a Michigan attorney.