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May 2013 Archives

Study: men and women differ over prenuptial agreements

Wedding planning elicits images of white dresses, cake, tuxedoes, flowers and the like. However, on the heels of a romantic wedding comes the more mundane world of financial planning. Before marriage, some couples may be aware of their future spouse’s financial circumstances, but other couples may not deem it appropriate to discuss such matters. For at least some couples, the topic of prenuptial agreements may be unlikely to dominate any pre-wedding discussion.

Complications associated with same-sex divorces

Marriage and divorce are two terms most people are familiar with, and may even know someone who either got married or divorced recently. Lately, the definition of marriage has been in the limelight. Most Michigan residents familiar with the same-sex marriage debate may be aware that ever since the Supreme Court decided to hear a couple of cases regarding the Defense of Marriage Act, twelve states have now legalized same-sex marriages.

Family businesses jeopardized during divorce

Families can build great things together. From loving homes to lasting memories, successful family unions breed positive outcomes. Here in Michigan and across the country, many families endeavor to start businesses with individual family members serving as directors and managers of the enterprise. While some family businesses thrive, others suffer as family relationships breakdown through divorce.

Things to do with a college savings plan during divorce

The end of marriage is fraught with crucial decisions for both sides which impact not only the parties involved, but also any children from the marriage. Some families try to save for college by putting money aside in a 529 plan which is a tax-advantaged account used for higher education. However, during and after a divorce a family that has invested in a 529 plan should decide and communicate with each other on what to do with it, how to manage it and how much money to put in post-divorce.

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5885 N. Wayne RD | The | Smith | Law Offices, P.C. | 734.729.4465

The Smith Law Offices, P.C.
5885 N. Wayne
Westland, MI 48185

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Fax: 734-729-4498
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