When you marry someone in Michigan, you probably plan on spending the rest of your life with this person and financing your retirement together. However, many Michigan marriages fail to go the distance, and if yours is among them, you may have legitimate concerns...
High-Asset Divorce
When could a divorce result in splitting up retirement accounts?
Divorce proceedings under Michigan’s statutes follow an equitable distribution system. You may negotiate a “fair” division of your marital property, which reflects the assets you and your soon-to-be ex-spouse acquired together. Separate property generally belongs to...
Is your spouse holding money over your head during your divorce?
Divorce can bring out complex emotions and lead to disputes over various issues, especially finances. If you find that your spouse is using money as a leverage tool or holding it over your head during your Michigan divorce, it can create additional stress and...
Reasons to challenge a prenuptial agreement in your Michigan divorce
Prenuptial agreements are contracts that couples sign before marriage to outline how to divide assets in the event of divorce. While prenups can provide clarity and protection for both parties, they can also cause contention during a divorce. Explore some reasons why...
Will the court give a stay-at-home parent an equal share?
For parents who choose to stay home with children, the stakes leading up to a divorce feel higher. If you find yourself in this situation and worry about your financial security during and after divorce, getting a handle on how a Michigan court handles property...
Benefits of approaching divorce as a business transaction
Many times when a divorce becomes contentious, it is because emotions are running high. It can be tough to separate yourself from the emotional aspects of ending a relationship, but you might find the whole process easier if you approach it as a business transaction....
Common mistakes people make during a high-asset divorce
Saying divorce is difficult is a gross understatement. When a couple must divide extensive assets, a potentially straightforward process can become messy. Individuals with a high net worth can look for the following pitfalls to avoid major regrets. Not taking stock of...
Is a prenup really worth it?
Before getting married, drafting a prenuptial agreement may take some of the romance out of your relationship. So is taking the time and trouble to create one really worth it if you should divorce? While there are a lot of scenarios under which a prenup does not work,...
What do all divorces have in common?
While high asset divorce cases and those for middle or low-income couples may have a lot of different aspects to them, in general, there are specific aspects that are the same regardless of income level. The American Psychological Association explains no amount of...
How does divorce affect your credit score?
If you are like most divorcees, you may worry about what your financial outlook is following the breakup. According to U.S. News, divorce can put a strain on your finances. However, you may be surprised by how the divorce impacts your credit score. Changes in the...