Married 7/11/02 I had $40,000 in my personal savings account. I had
home that I bought in 1997 with equity built of $80,000. Appraisal
value of $140,000, pay off of $60,000. My retirement income during
marriage from 7/02 through 8/04 was $100,000. Wife quit work and sued
her employer 2/02. Went on disability then unemployment for next nine
months. Received settlement of $70,000 in 2/03. She sold her home
6/03 and received $120,000. . In fall of 2002 we proceeded to do
major remodle. I was generall contractor and did alot of work myself,
and all the electrical (I'm retired electrician). She asked for
divorce and filed 8/04. Home not quite finished. Right after we
were married she insisited we have just one set of bank accounts
(savings and checking). All funds were mixed in the checking and
savings accounts. Present value of home per appraisal value $330,000,
with a mortgage payoff of $130,000. Bank accounts at time of her
filing for divorce 8/04 were $3,000 and we split that. We lived well
during this time and she shopped often. Actual invested in home for
remodel was around $200,000. Accurate records were not kept, didn't
think it was neccesary. She contributed about $200,000. I had
$80,000 in equity plus $40,000 in savings account and brought in
$100,000 retirement income. After house is sold we would be left with
about $200,000. How will this $200,000 be split per Michigan divorce
law. Her attorney says my retirement income does not count and she
should get two thirds. I contend It should be split fifty fifty. Is
there a presedent or specific divorce law. I want to settle this
matter without going to court. |
