Divorce triggers emotional and financial tribulations. Property division between the parties contributes significantly to the strain on both parties. An often-overlooked asset, the family-owned business requires frank discussion and a mutual understanding of goals and...
Divorce
Considering the cost of a divorce
Ending a marriage is not a joyous time for spouses in Michigan and elsewhere; however, it is a process that several married couples will face each year. With the rate of divorce remaining around 50%, it is an event that one needs to consider prior to getting married...
Are you seeing signs that a divorce may be in your future?
No one gets married thinking that the relationship will end in a divorce. But, with the common refrain that half of marriages end in divorce, most people probably know that, perhaps, it is a possibility in their lives. In many cases, spouses see the trouble in their...
What is a stock option and how does it affect divorce?
Executives and other highly compensated employees in the greater Detroit area may receive compensation in the form of what are called stock options. If a person is going through a split, he understand that these are valuable employment benefits that are subject to...
It is important to consider taxes when facing divorce
When someone in Oakland County is facing a divorce, he or she will need to keep in mind that there are several tax consequences which could mean that they will have pay more in federal income taxes when the process is over. Someone who is preparing for a Michigan...
There are alternatives to divorce in Michigan
There are some people who live in the Detroit area may be in situations where they need to leave a relationship, sometimes for the sake of emotional of physical safety. On the other hand, they may have religious or moral reasons why they do not want to get a legal...
Requirements for divorce filings in Michigan
When filing for divorce in Michigan State, there are particular issues a filer needs to consider. Two of those are the issue of residency and the grounds for divorce. Under Michigan state law, a complaint for divorce may be filed with the circuit court. The grounds or...
Dividing retirement accounts in divorce
In a divorce, the spouses must divide their separate property from the marital property and then divide the marital property and debts between them in a way that meets the standards of fairness demanded by Michigan law. Property division for fairly simple...
Factors to be considered in awarding alimony in Michigan
A divorce can severely disrupt the financial situation of either or both spouses. One of the functions of an award of alimony is to soften the impact of this disruption. An award of alimony in a Michigan divorce is strictly within the discretion of the judge, but a...
The basics of dividing marital property in a Michigan divorce
The first question that must be asked before diving into the complexities of a state’s property division laws is whether the state recognizes community property. Only nine states have chosen to designate all property acquired by a couple during their marriage as...