By David R. Dawson | Published October 15, 2022 | Posted in Divorce | Tagged Tags: equity, marital home, marital property |
Alternatives to Selling the Marital Home
During a divorce where property is being divided, certain assets may be challenging for the spouses to parcel out. This is particularly true for the marital home. In addition to having sentimental value and being a nurturing place for children, the family home is often a couple’s largest single asset. Although Michigan law includes the Read More
Read MoreHow Retirement Assets May Be Divided in a Divorce
A retirement account can be among the most substantial assets that a person accrues over a lifetime. Although such accounts are individually owned, they may be treated wholly or partly as marital property when a couple gets divorced. That means a divorce court will divide these accounts and their vested benefits equitably between the spouses. Read More
Read MoreWhy DIY Divorce is Seldom a Good Idea
Although most people hire an attorney when getting divorced, the court system does allow individuals to represent themselves. A self-represented litigant — also known as one appearing “pro se” — can file their own paperwork, submit their own evidence and argue for themselves throughout the divorce proceeding. But just because the court system permits a Read More
Read MoreAdvantages of Divorce Mediation Over Litigation
Some divorce cases turn into bitter, stressful and expensive court battles that can last for months or even years. However, most divorces can be resolved without a struggle if the spouses reach an agreement on essential matters, such as child custody, child support, spousal support and property division. One effective tool for forging such an Read More
Read MoreCan You Challenge Your Prenup When Getting Divorced?
Prenuptial agreements, also known as antenuptial agreements, are legally recognized in Michigan. Courts tend to favor allowing two consenting adults to define their financial rights and obligations in the event of a divorce. While prenuptial agreements are typically seen as a way for a wealthier spouse to protect his or her assets, they can also Read More
Read MoreSettling Disputes Over Educational Choices in Child Custody Cases
How and where a child will be educated can be a particularly contentious matter for divorced parents. One reason for this is that there are so many options for both primary and secondary education. Public schools, private schools, parochial schools and even homeschooling programs are among the possible choices. Some of these educational paths carry Read More
Read MoreWhen Can Separately Owned Assets Be Part of Equitable Distribution?
In many divorce cases, one of the major issues is how assets will be divided between the spouses — a process known as equitable distribution. There are two types of property to be considered in this regard: separate and marital. Separate property is any asset that one spouse owned prior to the marriage or acquired Read More
Read MoreFacing Divorce and Bankruptcy: Which Should Come First?
Divorce and bankruptcy can be difficult and traumatic experiences. Unfortunately, some people suffer both in short succession. Financial problems often lead to marriages dissolving and divorce typically has financial consequences for both spouses. Although it is possible to file for divorce and bankruptcy at the same time, this is usually impractical. A common question is Read More
Read MoreAdvantages of Divorce Mediation Over Litigation
Some divorce cases turn into bitter, stressful and expensive court battles that can last for months or even years. However, most divorces can be resolved without a struggle if the spouses reach an agreement on essential matters, such as child custody, child support, spousal support and property division. One effective tool for forging such an Read More
Read MoreCalculating Spousal Support in a Michigan Divorce
Spousal support (otherwise known as alimony) is court-ordered financial assistance paid by one spouse to the other following a separation or divorce. The purpose of spousal support is to help the receiving spouse maintain their standard of living, which may be difficult to do if they were previously relying on the other spouse’s income. In Read More
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