Michigan residents may be aware of the financial, social and emotional struggles that come from getting a divorce. That is why some may choose to work on their relationship instead of splitting up. However, those who choose to separate from their spouse should make...
Divorce
QDROs and dividing retirement accounts
Couples in Michigan who are getting a divorce and who need to divide certain types of retirement accounts will need a document called a Qualified Domestic Relations Order. However, they need to understand the financial implications of a QDRO. This could include taxes...
Preparing for divorce
When you know divorce is on the horizon, it is time to take steps to protect your financial interests and to make the process smoother. Planning ahead and acting promptly can save a lot of stress and bitterness in the future. FinancesProtecting your financial...
Older adults divorce at higher rates
When looking at marriage and divorce in America, age makes a big difference. Michigan residents might not know that divorce is becoming less common for young people but more common for older individuals. Since the 1990's, the divorce rate has roughly doubled for...
The importance of focusing on children during a divorce
Many Michigan children struggle emotionally when their parents decide to split up. While there's no way to completely mitigate the emotional distress that results from a divorce, there are a number of ways that people may be able to help their kids deal with it. Some...
How to tell if a spouse may be hiding marital property
You never want to think that the person sleeping next to you might also be plotting your financial demise. However, spouses do conceal property from one another for multiple reasons, and it happens more frequently than you may want to believe. If you suspect that your...
Options for preserving business assets in a divorce
In many cases, Michigan couples who run businesses together met when the company was worth little. As the company increases in value over time, it may represent most of that couple's net worth. In the event of a divorce, the company may either need to be sold or incur...
Disputes over frozen embryos in a divorce
Michigan couples who have undergone IVF treatments and who subsequently decide to divorce may have frozen embryos in storage. While there are many laws in place dealing with child custody in a divorce, few address the issues of frozen embryos. Furthermore, while they...
If you use social media during your divorce, do not make these mistakes
You might have seen the research showing a connection between divorce and social media use. According to researchers, the more frequently you are on Facebook, the higher risk of divorce you have. Practically everyone talks about limiting their time on social media to...
Retirement account division and hidden fees
When dividing assets after a divorce, an unexpected cost may come as a surprise to many Michigan couples who are ending their marriages. Splitting up assets can often be complex, legally and emotionally, but an extra 401(k) division fee can be financially painful as...