Financial problems are a very common contributory factor for the breakdown of a marriage. However, many spouses who want to divorce their partner because of financial issues are worried about how the debt will be divided.
Before taking action to file for a divorce in Michigan, it is vital that you know how the law will determine the likely financial implications. By having a thorough understanding of the way that the law works in Michigan, you will be able to understand how to formulate a successful divorce strategy.
Michigan laws regarding asset division at divorce follow the legal theory of equitable distribution. This means that, unlike several other states, assets and debts will not be blindly divided equally between spouses. Instead, an agreement that is deemed to be equitable and fair will be sought by the courts.
In Michigan, debts will typically be divided equally unless the judge believes that this would be unfair. If the judge believes that an unequal attribution of debts would be fairer, they will decide exactly how these debts should be divided.
The debt will possibly be divided unequally if one spouse has the ability to pay off the debt easily. In addition, if one spouse was responsible for the debt, for example, if they developed a gambling addiction, they will probably be declared responsible for paying it off.
If you want to ensure that you do not incur debt as a result of your divorce, it is important that you are proactive in understanding the law.
We offer a free initial consultation so you will get an opportunity to meet us, and we will have an opportunity to learn more about your legal issue.
Mr. Manzella represents businessman William Weber, who admitted to falsifying an invoice at ex-Macomb prosecutor Eric Smith’s request. He pleaded guilty to misdemeanor charges of conspiracy to commit a legal act in an illegal manner, with felony offenses dismissed during the sentencing.
L’Tonya Marie Payne, a 51-year-old black woman, is facing misdemeanor assault charges following an altercation. The complaining witness, who is white, stated the police would not believe Ms. Payne due to her skin color. Attorney Vince Manzella is working alongside Ms. Payne to fight these allegations, as she was arrested simply on the basis of the witness’s word.
Joseph Wolf, former director of the Detroit Stars, was sentenced to two years of supervised probation. Wolf pleaded guilty to embezzling funds from the nonprofit youth baseball league. Typically, the felony count can result in up to 10 years in prison, a fine of $15,000, and other charges, but Lucido & Manzella, P.C. was able to help the client receive a reduced sentence.
Charles Frontera, a former Roseville city councilman, was sentenced to a year of probation after a misdemeanor charge was dismissed at sentencing. During a pretrial conference, Mr. Frontera pleaded guilty to substance possession, and in doing so, Attorney Manzella was able to protect the client from severe charges.