Contrary to what many Michigan residents may think, a prenuptial agreement is not about staking a claim over one’s assets and it is also not about dooming a marriage even before it begins. As people grow older, they change and their circumstances change. As a result,...
Divorce
Divorce
What Happens To My 401k During Divorce?
The dividing of retirement accounts can be one of the most complicated parts of the entire process. Many people do not realize it, but your retirement account is often your most valuable asset. If you’ve worked for a long time contributing to a 401k, IRA or pension...
What to do with the family home during divorce
When it comes time to divide the family home during the divorce process, divorcing couples may be unfamiliar with their options. Understanding the different ways that a home may be divided during divorce can help the property division process progress more smoothly....
Common issues in any divorce case in Michigan
Getting a divorce can be one of the most life-altering situations a person could experience. For many people, a divorce case is the only time they ever have any contact with the courts. And, for some, the emotions that drive the case and the push toward a resolution...
Financial considerations in a gray divorce
Since the 1990’s, statistics show that the rate of gray divorce within the United States has more than doubled. If you are unaware of what a gray divorce is, it is one between a couple who is in their 50’s or older. These divorces often carry many more possible...
Funds, property and debt in a high-asset divorce
Property division is the common thread amongst all divorces in America, with few exceptions. While some divorce cases may involve other issues as well, such as child custody, child support and alimony, every divorcing couple will need to figure out how to divide their...
Who gets the family pet in a divorce?
A majority of families in Michigan have a family pet like a dog or cat. These animals are often seen as members of the family and they are treated as such, many times lovingly referred to as “fur babies”. When a couple decides they no longer want to be married who...
Advantages and disadvantages of litigation
Some people in Michigan who are getting a divorce might find themselves at an impasse with a spouse over property division or child custody. At this point, they may be facing a choice of whether to settle or go to litigation. There are a few factors to consider. Cost...
Why divorce rates for older couples are increasing
The divorce rate for people over the age of 50 doubled between 1990 and 2010. Michigan couples who end their marriages after turning 50 are said to be going through a gray divorce. One of the primary reasons people get divorced later in life is because they aren't...
How distributions from an IRA can be affected by divorce
Divorce is on the rise for older adults in Michigan and nationwide, and this can mean that they have accumulated a substantial amount of retirement savings. There are regulations around dividing retirement accounts in the process. In some cases, a document called a...