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 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 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 MoreWhen Does Family Life Require a Legal Expert?
Family can be the cornerstone of our lives, a source of love and support. But even the strongest family relationships can face challenges that require legal remedies. Several situations might arise that make it prudent to call upon a family law attorney who can offer guidance and take actions to achieve fair solutions, as well Read More
Read MoreUseful Steps to Take in Preparing for Divorce
Divorce can be emotionally and financially draining even when ending the marriage is in the best interests of everyone. Dissolving a marriage can have long-term legal and financial implications for the spouses and any minor children. Some careful preparation can help make the process smoother, less taxing and more likely to have a productive outcome. Read More
Read MoreWhat Happens to Your Inheritance When You Divorce?
During the course of your marriage, you may have suffered the loss of a parent or other family member and received an inheritance. Under Michigan law, an inheritance is normally considered the individual property of the spouse whose relative died. This is an exception to the general rule that any asset acquired by either spouse 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 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 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
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