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November 2017 Archives

Bill could change how spousal support payments are taxed

There may be numerous crucial aspects to address during the end of a marriage, one of which being whether spousal support payments will be required. Addressing this aspect could be crucial, as these payments can have a substantial impact on one's taxes. However, the laws regulating how support payments are taxed may change if a proposed tax reform bill in the U.S. Congress becomes law. Individuals who are considering divorce may find it advisable to speak with a family law attorney in Michigan for guidance on how this might affect them.

Child custody: Taking the holiday season into consideration

Parents in Michigan and elsewhere generally place a great deal of importance on the current and future well-being of their children. Should a couple decide to part ways, they may wish to pursue a parenting plan that is in keeping with the needs of the kids. However, certain times of year could make this somewhat challenging, and when negotiating child custody, parents might want to take some time to consider how best to handle the holiday season.

Actions to avoid during a high asset divorce in Michigan

It can be difficult to prepare for certain changes in life, such as the end of a marriage. Individuals in Michigan who are experiencing a similar change may wish to cover every aspect of the process, especially when a considerable amount of wealth is involved. While knowing the steps to take during a high asset divorce could prove beneficial, one may also find it invaluable to gain an understanding of the actions to avoid.

Understanding how taxes may change following a high asset divorce

When facing the end of a marriage, there are numerous factors that may have an impact on the future. A high asset divorce can be stressful and intimidating, and individuals in Michigan who are facing similar circumstances may wish to cover every aspect of the process. When planning for life after divorce, one might find it beneficial to consider how his or her taxes may change in the process.

How will commingling assets affect property division outcomes?

As a wealthy individual, you likely enjoy the comfort you have obtained from amassing your fortune. Of course, reaching this point in your personal and financial life may have taken a considerable amount of time and independent work. As a result, you may wonder what will happen to your assets now that you are going through divorce.

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