Divorce can feel like navigating a stormy sea. This is especially true when it comes to wealth protection. Ensuring assets remain intact requires careful planning and smart strategies. Thankfully, you can create a protective bulwark against the economic difficulties...
Bloomfield Hills Michigan Family Law Blog
Places your spouse could be hiding assets during your divorce
In a high-asset divorce, it is important to stay alert to the chance that your spouse might hide money or property. Divorce cases often reveal secret financial assets that one person may try to keep hidden. To ensure a fair division of property, it is important to...
Mistakes to avoid during a high-asset divorce
Property division in high-asset divorces can often be intricate. As couples grapple with evaluating and dividing assets of significant value, disputes may arise over their classification as separate or marital property. Valuing complex assets, such as businesses or...
Could the court award your separate property to your ex-spouse?
Michigan law recognizes the concept of separate property, which refers to assets one spouse acquires before the marriage or obtains through inheritance or gifts during the marriage. The general principle is that each spouse maintains ownership of their separate...
Navigating high-income dynamics in alimony modifications
Alimony, or spousal support, addresses financial imbalances post-divorce by supporting the lower-earning spouse.. Factors including each spouse's income, the duration of the marriage and the recipient's needs determine the amount and duration of alimony. In Michigan,...
Gray divorce has a notable impact on standard of living
Gray divorce, or the dissolution of marriages among those 50 and older, has become increasingly common. Its consequences often extend beyond emotional and familial aspects. An important area gray divorce affects is the standard of living for both men and women...
Does your prenup have your best interests?
A 2022 Harris Poll found that roughly 40% of engaged or married couples between the ages of 18 and 34 have signed a prenuptial agreement. A prenuptial agreement is a practical step for couples looking to enter into marriage with a clear financial understanding and...
Tax considerations in high-asset divorces
When a divorce involves significant assets, the financial landscape becomes even more intricate. In Michigan, high-asset divorces carry unique tax implications that both parties should carefully consider. Understanding these tax consequences is necessary to make...
Reasons to seek sole custody in Michigan
Some parents find themselves contemplating the prospect of sole custody after a divorce. While Michigan family law emphasizes the importance of shared custody, sole custody may serve the child's best interests. Understanding the reasons to seek sole custody can help...
How does a prenuptial agreement affect property division?
A prenuptial agreement can significantly impact property division in Michigan. Couples can create these legal contracts before marriage to outline how they will split assets and debts in a divorce. Understanding the effect of a prenup on property division can ensure a...