By David R. Dawson | Published July 15, 2021 | Posted in Divorce | Tagged Tags: child support, income shares model, net income | Comments Off on What is the Income Shares Model for Child Support?
What is the Income Shares Model for Child Support?
Child support after divorce was once calculated simply as a percentage of the paying parent’s income. However, this method failed to take into account the resources of the other parent that could be applied for the children’s benefit. As a result, most states, including Michigan, now follow the “income shares” model, which recognizes that both Read More
Read MoreDividing Business Interests in a Divorce
One of the most contentious issues in a divorce can be the division of marital assets — those deemed to be jointly owned by the spouses. If either spouse owns a share of a business, that share may be considered a marital asset that is subject to division. However, determining the identity and worth of Read More
Read MoreCan a Nonbiological Parent Can Seek Child Custody in Michigan?
The definition of family has evolved in the U.S. and with that change has come the legal recognition of parental rights arising from nontraditional relationships. In Michigan, a legal framework called the equitable parent doctrine allows a spouse who is not a biological parent of his or her spouse’s child, but who has raised and Read More
Read MoreShould You Consider a Postnuptial Agreement?
A postnuptial agreement is essentially the same as a prenup except that it is created after you are married. It is a legal contract setting out how your assets and debts will be allocated if you should end up getting divorced. However, postnuptial agreements until recently were not enforceable in Michigan, as judges tended to Read More
Read MoreGetting Your Finances in Order Before Filing for Divorce
Much of the stress associated with divorce concerns money. From property division to child support to spousal support (alimony), there are many financial issues to resolve. Proactively organizing your financial records ahead of your Michigan divorce can ease some of the pain of divorce. The process of gathering financial information may itself feel overwhelming, but Read More
Read MoreFactors to Be Considered in Awarding Spousal Support in Michigan
Under Michigan law, courts decide whether to award spousal support and how much to award based on a number of factors. The primary goal behind spousal support — also known as alimony — is to equalize the lifestyles of the parties, making sure that one spouse doesn’t experience a significant diminishment in their quality of Read More
Read MoreWho Gets the Family Home in a Divorce?
For many couples, their home is their biggest asset. Thus, it makes sense for people to be worried about how they’re going to deal with ownership of their house when they get divorced. Generally, there are three ways to divide real estate in a divorce. You can sell the house and split the proceeds, one Read More
Read MoreHow to Deal with Children’s Extracurricular and Post-majority Expenses After Divorce
In Michigan, the court sets child support based on a number of factors, including how much money the parents make, how many children the couple has and how much time the children will spend with either parent. The typical child support order covers the costs associated with the child’s housing, food, clothing and medical care. Read More
Read MoreHow Does a Finding of Domestic Violence Affect Child Custody?
Domestic violence is a serious problem that can play a significant role in how courts award custody of children in divorce cases and post-decree child support cases. But it is not always simple to decide whether certain conduct rises to the level of domestic violence. In a recent decision, a Michigan appeals court stated that Read More
Read MoreChild Support Modification Based on COVID-19 Layoffs and Closures
With businesses reeling and people experiencing layoffs and furloughs due to the coronavirus pandemic, it’s understandable that many parents are worried about how they’re going to continue meeting their child support obligations. If you have experienced a reduction in your income, you may be able to get your child support obligation temporarily or permanently reduced. Read More
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