Basic Divorce Part II
Basic Property Settlement Law
In a divorce, for the most part, the court will split property fifty-fifty. The longer the marriage the more likely this is to occur. However, there are certain exceptions to this. The first is what is excluded by a pre-nuptial agreement. Pre-nuptial agreements will usually be honored. However, they are subject to challenge under duress or fraud arguments. The second exception is what is loosely defined as “separate property”. The shorter the term of the marriage the more likely it will be for the court to find property is separate. This would include real estate owned before the marriage, pre-marital inheritances, or funds, or any other property which was clearly owned by a spouse before a marriage.
This area of the law can be tricky, especially when personal injury awards, or income derived from separate property, or a pre-existing business is involved. I have handled many cases like these. If you have a complex property divorce please feel free to contact me for a free consultation at (248) 432-1612.