Oakland Michigan Sample Letter for Divorce - List of Liabilities and Assets

• Category: Letters - Legal - Divorce
• State: Multi-State
• County: Oakland
• Control #: US-0397LTR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. Dear [Spouse's Name], I hope this letter finds you in good health and spirits. In accordance with our ongoing divorce proceedings, I am writing to provide a detailed list of our liabilities and assets that need to be addressed and divided fairly. The purpose of this letter is to ensure transparency and facilitate a smooth process for both parties involved. Liabilities: 1. Mortgage: Our primary residence located at [address] currently holds a remaining balance of EX. The monthly mortgage payment amounts to EX. 2. Auto Loans: We have two vehicles under our ownership. The first vehicle, a [make and model], has an outstanding loan balance of EX, with a monthly payment of EX. The second vehicle, a [make and model], has a remaining loan balance of EX, and its monthly payment amounts to EX. 3. Credit Card Debt: As of the date of this letter, we have outstanding credit card debt amounting to EX. This debt includes credit cards held under both our names, with individual and joint liabilities. 4. Personal Loans: We have two personal loans to address. The first loan, taken by [Spouse's Name], has an outstanding balance of EX, with a monthly payment of EX. The second loan, taken by [Your Name], has a remaining balance of EX, with a monthly payment of EX. 5. Other Liabilities: It is important to note that we may have additional liabilities such as student loans, tax debts, or outstanding medical bills. We must review and address these liabilities as well to ensure a comprehensive settlement for both parties. Assets: 1. Real Estate: Besides our primary residence, we jointly own a rental property located at [address]. This property's current market value is estimated at EX. Additionally, we have a vacant land property located at [address] with an approximate value of EX. 2. Vehicles: In addition to the aforementioned vehicles with outstanding loans, we own an additional vehicle, a [make and model], which is fully owned and estimated to be worth EX. 3. Bank Accounts: Our joint bank accounts are held at [bank name]. As of the date of this letter, the total balance in our joint checking account is EX, and the joint savings account holds EX. 4. Retirement Accounts: We have two retirement accounts that need to be considered for equitable distribution. The first account, held by [Spouse's Name], has an estimated balance of EX. The second account, held by [Your Name], has an approximate value of EX. 5. Other Assets: It is important to note that we may have additional valuable assets, such as valuable artwork, jewelry, or collectibles. These assets need to be appraised and included in the asset division process. Please note that this list is not exhaustive and serves as a starting point for our discussions. I propose that we appoint a professional, such as a mediator or lawyer, to assist us in reaching a fair and mutually agreed-upon division of our liabilities and assets. This will ensure that both our interests are protected and that the settlement is in accordance with the laws of Oakland, Michigan. Should you have any concerns or wish to discuss any aspect of this list further, please do not hesitate to contact me. My primary goal is to achieve a peaceful and fair resolution during this challenging time. Wishing you all the best in your future endeavors, [Your Name]

Dear [Spouse's Name], I hope this letter finds you in good health and spirits. In accordance with our ongoing divorce proceedings, I am writing to provide a detailed list of our liabilities and assets that need to be addressed and divided fairly. The purpose of this letter is to ensure transparency and facilitate a smooth process for both parties involved. Liabilities: 1. Mortgage: Our primary residence located at [address] currently holds a remaining balance of EX. The monthly mortgage payment amounts to EX. 2. Auto Loans: We have two vehicles under our ownership. The first vehicle, a [make and model], has an outstanding loan balance of EX, with a monthly payment of EX. The second vehicle, a [make and model], has a remaining loan balance of EX, and its monthly payment amounts to EX. 3. Credit Card Debt: As of the date of this letter, we have outstanding credit card debt amounting to EX. This debt includes credit cards held under both our names, with individual and joint liabilities. 4. Personal Loans: We have two personal loans to address. The first loan, taken by [Spouse's Name], has an outstanding balance of EX, with a monthly payment of EX. The second loan, taken by [Your Name], has a remaining balance of EX, with a monthly payment of EX. 5. Other Liabilities: It is important to note that we may have additional liabilities such as student loans, tax debts, or outstanding medical bills. We must review and address these liabilities as well to ensure a comprehensive settlement for both parties. Assets: 1. Real Estate: Besides our primary residence, we jointly own a rental property located at [address]. This property's current market value is estimated at EX. Additionally, we have a vacant land property located at [address] with an approximate value of EX. 2. Vehicles: In addition to the aforementioned vehicles with outstanding loans, we own an additional vehicle, a [make and model], which is fully owned and estimated to be worth EX. 3. Bank Accounts: Our joint bank accounts are held at [bank name]. As of the date of this letter, the total balance in our joint checking account is EX, and the joint savings account holds EX. 4. Retirement Accounts: We have two retirement accounts that need to be considered for equitable distribution. The first account, held by [Spouse's Name], has an estimated balance of EX. The second account, held by [Your Name], has an approximate value of EX. 5. Other Assets: It is important to note that we may have additional valuable assets, such as valuable artwork, jewelry, or collectibles. These assets need to be appraised and included in the asset division process. Please note that this list is not exhaustive and serves as a starting point for our discussions. I propose that we appoint a professional, such as a mediator or lawyer, to assist us in reaching a fair and mutually agreed-upon division of our liabilities and assets. This will ensure that both our interests are protected and that the settlement is in accordance with the laws of Oakland, Michigan. Should you have any concerns or wish to discuss any aspect of this list further, please do not hesitate to contact me. My primary goal is to achieve a peaceful and fair resolution during this challenging time. Wishing you all the best in your future endeavors, [Your Name]