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July 2017 Archives

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What to consider when asking for a marital home

It is not uncommon for Michigan residents or others going through a divorce to want to keep their marital home. In some cases, there is a sentimental attraction to the property. Parents may be concerned about providing a stable environment for their children during an uncertain time in their lives. However, it may not always be in a person's best interest to keep a marital home in a divorce.

Financial pitfalls in divorce for baby boomers

Divorce may be on the rise among some Michigan baby boomers. A study by Bowling Green State University found that from 1990 to 2010, the divorce rate doubled for people 50 and older. The American Academy of Matrimonial Lawyers found that the most common areas of dispute in a divorce for this group are business interests, retirement accounts and pensions, and alimony.

Key facts for dividing your business in your divorce

A divorce can be a trying time, and figuring out how to divide all of your assets may be taxing. In the case of a business that you both helped to build or are currently running together, it may not be easy to resolve. There are a few key facts to consider when deciding how to divide your business in your divorce settlement.

Advantages and disadvantages of an uncontested divorce

Some Michigan couples who are considering a divorce might wonder if they can get one that is uncontested. If the couple does not have a complicated situation regarding property division and child custody and can agree on these issues, an uncontested divorce may be possible. There is generally less paperwork in an uncontested divorce. If a party does not respond to the filing of an uncontested divorce, the divorce will be granted. However, if one spouse disagrees with an uncontested divorce, it cannot go forward.

Avoid credit surprises after divorce

Many Michigan couples may not fully understand the impact a divorce can have on their credit and payment responsibilities. What happens to debt after marriage is determined mostly by property division and what is written in the divorce decree, but the divorce agreement may not always be enough. People may need to be proactive in separating themselves from certain debts or making more specific requests in the divorce agreement.

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