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By: Bailey Vos
For many people, the financial side of divorce isn’t just a consideration — it’s the foundation of every decision that follows. From where you’ll live to whether support will be involved, nearly every aspect of the process is shaped by your financial picture.
And though untangling years of shared finances, accounts, and responsibilities can feel overwhelming, with the right preparation and guidance, you can gain a clear understanding of your finances and make informed decisions that support your future.
The key thing to remember is that divorce in Michigan means your marital assets (the home, retirement accounts, investments, and debt ) will be divided equitably by the court, not necessarily down the middle. Knowing what's yours, what's shared, and how to prepare makes all the difference.
In Michigan, property division is based on what’s equitable, not necessarily equal.
Under MCL 552.19, courts aim to divide marital assets in a way that is fair based on the circumstances of the marriage. Understanding what is considered marital property versus separate property is key to protecting what’s yours.
Marital property generally includes anything acquired during the marriage, such as:
Separate property (this is what’s yours to keep) usually includes:
That said, separate property can sometimes become marital if it gets mixed with marital funds (for example, if you add your spouse to a deed or combine finances).
Before making any major decisions, it’s important to fully understand your financial situation. Gather all your financial documents and tax returns from the last 3-5 years. Include bank statements, retirements and investment accounts, mortgage and loan documents, insurance policies, etc.
This is also a good time to think about your future financial needs. Where will you live, and what will it cost? What are your anticipated monthly expenses and income? How about health insurance coverage, retirement planning, and the potential need for spousal support?
Taking time to map out these factors can help you make decisions that are sustainable long-term. Getting organized also helps you and your attorney avoid surprises later in the process.
If you’re planning to divorce, now is not the time to make rash financial moves. Actions like moving large amounts of money, closing joint accounts, or taking on new debt can raise concerns and complicate your case. Before making significant financial changes, it’s best to speak with a family law attorney to ensure you’re protecting your interests instead of unintentionally harming them.
In some cases, one spouse may be entitled to spousal support to help maintain financial stability after divorce. Michigan courts consider a variety of factors when determining spousal support, including, the length of the marriage, each spouse’s income and earning capacity, contributions to the marriage, age and health of each party, and needs and ability to pay.
Spousal support isn’t automatic, but it can play an important role in balancing financial disparities between spouses.
At McKinney Vos PLLC, we help Michigan clients navigate the financial side of divorce with clarity, care, and practical guidance. Whether your financial situation is straightforward or complex, our team is here to help you protect what matters most. Contact us today to schedule a free consultation and take the next step forward with confidence.
Bailey Vos is a Michigan family law attorney and co-founder of McKinney Vos PLLC, helping families in Grand Rapids and throughout Michigan navigate divorce, custody, and other complex family matters.
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