Michigan divorces can be very complex family law matters. Particularly when spouses remained married for many years or have significant shared resources, divorce proceedings may quickly become complicated. Emotions tend to flare, and spouses may have a hard time reaching an agreement on how to handle certain issues. The property
Couples with significant personal resources may find that divorce is a bit more challenging than couples who rent and have few assets in their own names. The home where people live or the real property they own, including investments and vacation homes, can cause a variety of challenges during Michigan
Many professionally successful adults in Michigan carry significant credit card balances because their profession requires that they put forward a very polished appearance. Spending habits and the pressure of debt can contribute to the decline of a marital relationship and complicate the divorce process. It is common for divorcing spouses
As readers of this legal blog likely know, our state uses the equitable distribution theory in the divorce property division process. This means that instead of dividing marital property as close to 50-50 as humanly possible (like in a community property state), Michigan family courts determine a fair split, but
If you’re like most people, then you’re worried about what your finances are going to look like after your divorce is finalized. It’s a legitimate concern given that you’ll have to give up access to many assets through the property division process, and your household income may be cut in
The hard work that goes into building a successful company often isn’t recognized by people who haven’t done it. For some, all that hard work might seem like it was a futile effort because their business is in jeopardy due to a divorce. People who own a company before they
A family-run business that’s successful can provide for your future. You may not realize that this can quickly become a liability, however, if you and your spouse divorce. If your marriage ends, there’s a chance that your ex might try to make it appear as though the business isn’t as
There are so many different aspects of a divorce that need to be worked through. One of the most important parts of the divorce process is dividing up assets. The first step in property division is for both parties to list all their assets and debts. Only with a full
In every Michigan divorce, the parties must divide their marital property according to state law. The marital property includes nearly all assets and debts the couple acquired during the marriage, so this division of property can involve everything from household items to real estate and retirement accounts. Some of these
Although divorce usually brings to mind emotional upheaval, stress and often a profound sense of loss, for older couples there will also be a substantial impact on their finances. Divorcing couples who have accumulated wealth over a long period of time will experience greater financial risk than younger couples, as