Practice Areas

Division of Property

Oakland County, Michigan, Divorce Property Settlement Lawyer

Based in Oakland County, Michigan, as a divorce lawyer, I have engaged in many cases where property settlement was the most prominent issue. I have spent more than 30 years assisting men and women facing a divorce with property division issues, including the distribution of assets and debts.

Michigan is an equitable distribution state (not a community property state), which means that a judge can decide how to divide debts and assets. In many cases, the judge will look at the assets and debts each party brought into the marriage, and the property and debt obligations acquired after the marriage.

This means that all property, assets, and debt must be disclosed. It also raises two significant issues regarding the valuation of property and assets:

• What is the property worth?
  
• What valuation date do we use?

These questions are important, and can dramatically affect how much you receive during the division of assets and debt. The following are some examples of assets with valuation issues:

• Real estate - including primary residence, vacation homes, and other real estate holdings
  
• Professional practice - including a medical practice, law practice, or accounting practice
  
• Minority shares in a closed corporation
  
• Stock options
  
• Retirement plans
  
• Inheritances
  
• Businesses
  
• Art and other collectibles

At the Law Office of Thomas Loeb, I will personally work with you to identify issues and then work with the appropriate experts and professionals to present your issues in the best possible light. I will also work with your tax professional to take into account tax considerations in handling your property division. During my 30 years of practicing law, I have worked with many excellent experts who can assist us with valuation issues.

For questions regarding Michigan property division laws, or to discuss your divorce or particular asset or debt issue, please schedule a free confidential consultation with an experienced divorce property settlement lawyer by calling me at (248) 851-2020, e-mailing me, or filling out the intake form on my Contact Us page.

I will meet with you personally, take the time to understand your concerns, situation, or other factors affecting property and debt division, and will fully dedicate myself to bringing the best possible outcome to your case. The law firm of Thomas M. Loeb is centered in Farmington Hills and helps people throughout Michigan, including Detroit, Oakland County, Wayne County, Macomb County, and Livingston County.