By David R. Dawson | Published March 12, 2025 | Posted in prenups/postnups | Tagged Tags: considerations, divorce, financial, gray divorce |
Dealing With the Financial Implications of “Gray Divorce”
In recent years, a growing trend known as “gray divorce” has gained attention, describing the increasing number of separations among individuals aged 50 and older. The divorce rate for this age group has doubled since the 1990s, even as the overall divorce rate has declined or remained steady. Parting ways later in life often stems Read More
Read MoreThe Essentials of an Enforceable Postnuptial Agreement
A postnuptial agreement is a contract made during marriage that addresses the division of assets, debts and other financial matters should the couple get divorced. While postnuptial agreements are legal in Michigan, they are subject to a high level of scrutiny by the courts and as such may be more difficult to enforce than prenuptial Read More
Read MoreKey Considerations Involved in High-Net-Worth Divorce
A high-net-worth divorce is one in which the couple’s combined liquid assets are substantial, exceeding $1 million. The spouses often have complex financial portfolios, which may include investments, real estate, retirement accounts and luxury assets like jewelry, fine art or collectibles. These cases may require the input of financial analysts, forensic accountants and appraisers to Read More
Read MoreLegal Remedies for Victims of Domestic Violence
In Michigan, the family court plays a vital role in safeguarding domestic violence victims from harm. A judge can take measures to address the immediate threats of domestic violence and to promote longer-term safety and stability for victims and their families. However, this requires a victim taking proactive steps, with the aid of a qualified Read More
Read MoreWhat You Need to Show to Modify Spousal Support
In Michigan, spousal support, or alimony, is awarded during a divorce based on the financial circumstances of both parties at the time. However, as life circumstances change, one or both ex-spouses may wish to alter the arrangement. Whether a modification is possible depends on the terms set in the original alimony award and the specific Read More
Read MoreWho Gets the Family Home in a Divorce?
A Michigan divorce often involves equitable distribution of property, meaning marital assets are divided fairly but not necessarily equally between spouses. One of the most complex assets to handle is the family home, which can involve significant emotional and practical concerns. Who gets a home that is deemed marital property depends on several factors, such Read More
Read MoreHow Can Divorced Parents Deal With College Costs?
In Michigan, court-ordered child support order generally covers the needs of a child until they reach the age of 18, or 19.5 if the child is still attending high school full-time. It generally does not extend to post-secondary education expenses, such as college tuition and related costs. Despite this, divorcing parents have options to share Read More
Read MoreMaking a Strong Case for Increased Parenting Time
After a divorce, parenting time (formerly known as visitation) is a vital aspect of preserving family relationships, especially for non-custodial parents. If you do not have primary custody of your child, there are several positive steps you can take to make a strong case for improving your share of parenting time. Michigan courts base parenting Read More
Read MoreFactors Michigan Courts Use to Determine Spousal Support
Spousal support, the formal name for alimony in Michigan, is court-ordered financial assistance that one spouse pays another after a divorce. It is not meant to be a permanent obligation but rather a stopgap measure to help the recipient spouse become self-sufficient. Courts in Michigan consider several factors when determining the necessity and amount of Read More
Read MoreCrafting a Fair and Workable Parenting Plan in Michigan
Divorce is often a challenging and emotionally charged experience, and dealing with child custody issues can be particularly daunting. Michigan’s Parenting Time Guidelines offer a framework for parents to create a parenting plan that prioritizes the well-being of their children. But with various factors to consider, crafting a workable and sustainable plan requires careful analysis Read More
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