The bill amends the existing law regarding divorce and separate maintenance judgments in Michigan, specifically focusing on the rights of spouses concerning life insurance policies, pensions, and real estate. It mandates that judgments must determine the rights of both spouses in any life insurance, endowment, or annuity policies where they are named beneficiaries. If the judgment does not specify these rights, the policy proceeds will default to the estate of the spouse or the designated beneficiary. Additionally, the bill clarifies that all rights, including contingent rights, in pensions, annuities, and retirement benefits must be addressed in the judgment, ensuring that a proportionate share of all components of these benefits is included unless explicitly excluded.

Furthermore, the bill changes the ownership status of real estate upon divorce, stating that spouses who own property as joint tenants or tenants by the entirety will automatically become tenants in common unless the divorce judgment specifies otherwise. This amendment aims to provide clearer guidelines and protections for both spouses in divorce proceedings, ensuring equitable distribution of assets and rights. The bill also includes a provision that its enactment is contingent upon the approval of certain resolutions in the state legislature.

Statutes affected:
House Introduced Bill: 552.101, 552.102