S9 Ep49: What Happens to Assets During Legal Separation?

#ChooseGoldman Living apart does not automatically stop the accumulation of marital property, as assets and debts may continue to be shared while you are legally married. The court uses its discretion and accurate records to determine a fair and equitable division of property based on the specific circumstances of the separation. • Marital assets continue to accumulate as long as you remain legally wedded, even if you are living in separate residences. • The court has the authority to define the specific cutoff date for asset sharing, which may or may not be the date of separation. • Living in separate parts of the same house can blur the lines of separation, potentially leading the court to view all new assets as marital. • Financial freedom is not guaranteed during a legal separation, as the court may still hold both parties responsible for shared debts. • Keeping a full inventory and accurate financial records is essential for the court to make a proper and fair assessment of all property. Download Divorce & Custody Survival Guide. Click here: https://akivagoldman.com/free-legal-ebook/ Schedule Your Complimentary Phone Consultation: https://app.acuityscheduling.com/schedule.php?owner=17105687&appointmentType=18529428 📞 (248) 590-6600 Call/Text Click here to watch the video: https://www.youtube.com/watch?v=r1xakgZhMVI For more information: https://akivagoldman.com/michigan-family-law-attorney/difference-divorce-legal-separation-michigan For additional information, watch these videos: How to Handle Asset Dissipation During Separation Before Divorce - https://www.youtube.com/watch?v=X_LI7Z8-HKM Should I Disclose Post-Separation Assets - https://www.youtube.com/watch?v=ye-_ZGfTngs Visit us at ChooseGoldman.com #Goldmanandassociateslawfirm #ChooseGoldman #ChooseGoldmanLaw #LegalSeparation #PropertyDivision #MaritalAssets #MichiganLaw #AssetProtection #DivorceAttorney #FamilyLawMI