Divorce is always going to be different for each couple and for every demographic, but depending on various circumstances, the most important factor in your divorce may change. For instance, for a middle-class couple with two children, the most important issue in the divorce is likely to be child custody and determining how much time each parent gets to spend with the children. For wealthier couples who do not have children, property division may be a more significant issue.
This is not to say that property division is not a significant point of contention for all divorcing couples, but quite simply, higher asset individuals stand to lose more in a divorce than those with fewer assets. Additionally, any assets that are lost tend to be worth far more than assets of lesser affluent families.
When a couple is married in Michigan, any property that is purchased during the marriage is considered marital property. This can lead to even more significant struggles if only one of the spouses works. A woman making six figures or more may resent that her unemployed husband might walk away from the marriage with a car that she paid for, but such a scenario could easily occur.
It is always a good idea to enlist the aid of an attorney if you are going through a divorce, or if you expect to go through a divorce. However, it can be especially important for individuals with many expensive assets because a mismanaged case can lead to a significant loss of valuable property. If you are going through a high-asset divorce in Michigan, please visit our web page to learn how we can help you manage your divorce.