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Michigan Divorce Blog

Preparing for child custody negotiations with guidance

There are certain areas of divorce that may often be highly contestable topics, perhaps especially those concerning the future of the kids. For parents in Michigan, child custody is often one of the most important factors in divorce, but it can also be one of the most challenging. When facing a similar situation, a parent might find it advisable to take certain steps to prepare before entering negotiations.

Entering custody negotiations without a plan could prove detrimental to the overall outcome. A parent could find it beneficial to go over any potential concerns ahead of time, and bring these concerns along when entering the process. In addition, it may also be helpful to work on a potential agreement before negotiations, perhaps one that not only covers everyday routines, but also accounts for potential future circumstances, such as vacations and holidays.

Properly preparing documents may be key in a high asset divorce

Along with being a highly emotional process, the end of a marriage can also have a significant impact on a person's financial future. Divorce is often challenging enough on its own, and any unforeseen changes during this period can have a devastating effect. When facing a potentially complex high asset divorce, one might find it beneficial to obtain guidance from an attorney in Michigan to ensure the process goes as smoothly as possible.

Some individuals may be under the impression that once a settlement is reached, even during negotiations, that it is set in stone. However, there may be certain circumstances in which a divorce settlement might not be legally binding. For someone who begins to plan for the future in accordance with the agreed upon terms, this could prove to be detrimental.

New legislation could require joint child custody if approved

Many parents consider the future well-being of their kids to be of the utmost importance. For those who decide to part ways with the other parent, negotiations regarding custody could be a highly debatable process. New legislation regarding child custody has been set forth in Michigan, and although it may still be several steps short of being set in motion, it has reportedly passed the House Judiciary Committee.

According to reports, the bill would require that joint custody be the default determination during court proceedings. This legislation would ensure that neither parent has the children for more than 200 nights per year. When determining custody, the court considers the best interests of the child to be paramount, which in many cases, having equal access to both parents could be the healthiest possible outcome.

Demand explanation if you suspect your spouse is hiding assets

 

You've worked long and hard to get where you are today. Perhaps you finally achieved the peace of mind that comes from knowing your future is reasonably financially secure. It's understandable that you don't want to let your upcoming divorce undermine your financial stability. After all, it's been a long time since you were single and you want to make sure you're starting off on the right foot where property, assets and investments are concerned.

Identifying ownership of assets prior to property distribution

For a couple who possess a considerable amount of property and assets, divorce can be a complex process. With so much at stake during this period, crucial areas such as property distribution are often highly contestable topics. In equitable distribution states, like Michigan, the division of assets must be fair, but does not necessarily have to be equal. With this in mind, an individual might find it beneficial to have awareness of all marital property before proceeding.

Over the course of marriage, many couples acquire a significant amount of property and assets. Since most couples likely intend to stay together throughout life, they may give little thought to the ownership of each asset. Unfortunately, if a couple decides to take separate paths moving forward, unawareness of ownership rights could be detrimental to the outcome of a subsequent divorce.

Creating an enforceable prenuptial agreement

Prenuptial agreements, also known as antenuptial agreements, are not romantic but they can be pragmatic. This is particularly the case when one or both spouses are bringing significant assets into the marriage, or if one or both spouses own businesses. Other situations that may merit a prenuptial agreement include a second or subsequent marriage or a situation where one spouse is likely to inherit substantial assets. A carefully –drafted prenuptial agreement will clearly state which property is separate property and which property is marital property. Sometimes couples will enter into postnuptial agreements. These agreements function largely the same way as prenuptial agreements, but are signed after a couple gets married.

Whatever reasons one may have to enter a prenuptial agreement, the document must be legally enforceable. In the event of divorce, it is very possible that one party will attempt to challenge the legality of the prenuptial agreement. This document must be able to withstand a judge’s scrutiny to have any value.

Child custody: Indicating signs of a need for help among kids

Certain changes in life can be challenging to accept. Divorce, in particular, can be hard on everyone involved, but perhaps especially on kids. Parents in Michigan generally seek to protect their child during this period by planning a future that is in keeping with his or her best interests. Although child custody negotiations can be stressful and intimidating for adults, the prospect of such a major change might be even more challenging for a young one to accept.

Children often have trouble opening up about similar issues, but there may be certain signs that could indicate a need for help. A kid who is having trouble coping with the news of divorce may act out, or be more prone to feelings of anger or sadness. These changes in behavioral patterns could be temporary, but they might also indicate a need for therapy.

Steps to take or avoid during a high asset divorce in Michigan

Along with the potential emotional grief that can accompany the end of a marriage, there could be a significant amount of financial stress as well. For those of considerable wealth and assets, this process can be stressful and daunting, especially with so much at stake. Individuals who are facing a high asset divorce in Michigan might find it advisable to take certain precautions before and during the process that could be beneficial in the long run.

When facing negotiations for property division, it's generally a good idea to gather documentation of joint assets prior to the process. Although this can be challenging with a substantial amount of assets, it could help in preparing for the road ahead. In addition, keeping track of marital expenses and incomes will not only be beneficial in planning for the future, but could also be useful during divorce proceedings.

What women over 50 can do to be successful in divorce

Divorce over 50, also known as "gray divorce," can be the right decision for men and women involved in unhappy marriages. In most gray divorces, the primary point of contention is property division, since the children have often left the home. Property division in divorce can be a problematic issue for some women.

A recent study indicated that more than one in four, or 27 percent, of women who had a gray divorce were in poverty. In comparison, only 11 percent of men who went through a gray divorce lived in poverty. Any woman over 50 considering divorce, or any woman over 50 whose spouse has filed divorce, needs to know that the decisions she makes right now could have a major impact on her finances going forward. 

Key factors for determining spousal support in divorce

There are numerous aspects involved in the process of divorce. Property division or child custody are often significant issues during this stressful life event, but there are other areas that may require attention. In Michigan and elsewhere, spousal support is a key aspect in many divorces and can potentially have a significant impact on the financial future of everyone involved.

Spousal support is generally determined based on a number of factors, such as overall income and length of marriage. The income of each spouse may determine the necessary amount for support while the latter could determine the length of time required for support payments. In some cases involving marriages over 10 years, the set time period for spousal support could be indefinite.

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