Last week, we wrote a post about prenuptial agreements and the importance of this contract in family law and high asset divorces. Additionally, we talked about the many different topics you can, and can't, include in a prenuptial agreement. Today, we want to continue that discussion by talking about the other side of prenuptial agreements: how they can be legally challenged and invalidated.
What are some circumstances that could invalidate a prenup?
How can I make my high-value divorce easier?
When it comes to divorce in Metro Detroit, the more money and assets involved, the greater the stakes. High-value divorces have a higher level of intensity and drama than many lower asset divorces. Divorce is not always easy, and the issues involved are generally dependent on the number and value of wealth and assets. However, there are other factors, including emotions, that can play a role in the outcome of a divorce.
How a prenuptial agreement factors into divorce
Property division will be a major issue in any divorce, but especially one that involves a significant number of assets -- or assets of tremendous value. Given the importance of this issue during divorce, it is important for newlyweds or people who are considering walking down the aisle with their significant other to think about a prenuptial agreement and what this contract can offer them.
Will new alimony law be a benefit or disadvantage for you?
The new tax bill and its implications on divorces might have caused confusion for many couples in Michigan and other states. Those who were considering divorce might have tried to get it done before the New Year. However, the new alimony tax laws will only apply to divorces that are finalized in 2019. Authorities say that not only could it create timing battles between divorcing spouses but also their legal counsels.
Practical ways to manage child support payments
Most parents in Michigan want what is best for their children -- even after a divorce. Concerned non-custodial parents may not see child support obligations as burdens but an opportunity for them to play positive roles in the lives of their children. Neglecting to pay child support can adversely affect the child, and recognizing the importance of making child support payments on time is vital.
How are the different types of debt handled in property division?
Yours, mine or ours? That is the primary question when it comes to property division in a Michigan divorce. Couples have two options: they can either pay off all their debts before filing for the divorce, or they can have the court decide who will be responsible for which debts. However, regardless of the ruling of the court, lenders will still hold those whose names are signed on the debt contract responsible for payment. It is not always possible to settle all debts, but taking joint debts into a new life may not be desired, and some choose to close joint accounts and open new individual accounts wherever possible.
Child Custody: What are the rights of a non-custodial parent?
In most divorce cases in Michigan, both parents want what is best for their children. However, joint child custody is not necessarily perfect for every situation, and the parent who ends up being the non-custodial parent may want to make sure he or she remains a part of the child's life. For this reason, it is important for that parent to make sure the divorce settlement agreement specifies his or her rights as the non-custodial parent rather than having only vague references to it.
What are the enforcement methods for unpaid alimony?
Divorced people in Michigan are often dependent on the spousal support they receive from a former spouse -- even if it is only until he or she has established a regular income. However, payments may be withheld, leaving the question of possible enforcement. That depends on whether the court ordered alimony to be paid, and whether it is malicious withholding or the inability to pay due to job loss or other changed circumstances.
Key aspects of divorce mediation
Mediation is an effective alternative to court divorce proceedings. In some cases, such as high-net-worth divorces, mediation is especially beneficial.
