Experienced Property Division Lawyer In Metro Detroit
Dividing assets and debts in a divorce can be one of the process’s most complex and contentious aspects. Michigan follows the principle of equitable distribution, meaning marital property is divided fairly but not necessarily equally. The legal framework surrounding asset and debt division can be complex, requiring a thorough understanding of state laws and financial considerations. A skilled property division lawyer is essential to protect your financial future and advocate for your best interests.
At Bono Legal Group, PLLC, attorney Sherri Bono has over 35 years of focused experience in family law. From her office in Bloomfield Hills, she serves clients in Birmingham, Oakland County and throughout the entire Metro Detroit area. With a deep understanding of high-asset divorces and the unique financial concerns of affluent individuals, attorney Bono provides trusted representation to those facing complex asset division and debt division processes.
How Is Property Divided In A Michigan Divorce?
Michigan courts follow equitable distribution, which considers various factors to determine a fair division of property. While this does not mean an automatic 50/50 split, courts evaluate numerous aspects, including:
- Length of the marriage
- Each spouse’s income and earning potential
- Contributions to the marriage, both financial and non-financial
- Age, health and needs of each spouse
- Any prenuptial or postnuptial agreements
Protecting business interests, investments and retirement accounts often requires strategic legal guidance. An experienced property division lawyer can present compelling arguments that can help you secure a favorable division based on these factors.
Dividing Debts In A Michigan Divorce
Just as assets must be fairly distributed in divorce, so must debts. Debt division in Michigan considers factors such as who incurred the debt and whether it benefited both spouses. Common debts addressed in divorce proceedings include:
- Mortgages and home equity loans
- Credit card debt
- Business liabilities
- Student loans
- Medical bills
Attorney Bono will work to help prevent an unfair allocation of debt and protect clients from financial burdens they should not bear. The goal is to achieve a just outcome that reflects each party’s financial responsibilities and contributions.
The Importance Of Legal Representation In High-Asset Divorces
Asset division often involves complex financial structures such as real estate holdings, investment portfolios and business ownership. Without proper legal advocacy, individuals risk losing significant wealth or being burdened with excessive financial obligations.
Attorney Sherri Bono and her network at Doerr MacWilliams Howard, a business litigation firm where she is a counsel, allows her to provide the legal acumen needed to protect clients’ financial interests.
Protect Your Financial Future
Dividing assets and debts in a divorce requires a skilled advocate who understands Michigan law and the financial intricacies involved. Bono Legal Group, PLLC, can help clients in Oakland County achieve fair outcomes. Call 248-266-4627 today to discuss your case and secure the legal representation you deserve.