Divorce can bring unwelcome surprises when spouses disclose their financial information and bring their own tax and financial professionals onto their divorce teams. Sometimes this involves issues with joint income tax returns. If your spouse took care of filing the...
How to minimize losing out on your retirement funds during a divorce
If you're considering a divorce, you may be worried about the status of your retirement plans. You don't want to suffer such financial losses that you no longer can retire on your own schedule. This is often especially an issue for gray divorce, which involves those...
How can you tell if your spouse is hiding assets?
Virtually every divorce involves settling numerous highly complex issues. Among those is separating property and financial assets. Property division in Michigan is governed by a principle of equitable distribution, which means that the courts will divide assets in a...
Can you claim part of a spouse’s retirement account in a divorce?
The more assets you share with your spouse, the more the two of you will have to negotiate during your divorce. High-asset marriages often come with plenty of assets for the two of you to split, as well as a situation with two people on very different financial...
3 reasons hiding assets during divorce is never a good idea
Divorce can be a turbulent experience; one that can trigger people to act in ways that might be totally out of character. There are situations that you cannot help during the divorce process. However, some behaviors can set you up for serious legal troubles. One such...
What to consider when seeking a financial settlement in divorce
Once you start your divorce, things can move quickly. You can feel pressured into making decisions without proper preparation. While you do not want your divorce to drag, you need to allow time to get your thoughts together and take a realistic look at your finances....
What will happen to your cabin when you file for divorce?
Cabin life is a big part of summer for a lot of people in Michigan. Whether you inherited a rural cabin from your parents or you and your spouse bought one so you would have someplace to escape with your kids every summer, you probably love your little getaway....
How to survive a divorce with your finances intact
All divorces have the potential to be full of contention and heartbreak, and that’s particularly true when there are a lot of assets at stake. Your relationship may be over, but you want to preserve your way of life as much as possible -- and that means securing your...
How does the state divide property?
Property Division One of the most important parts of a divorce is separating your lives by dividing your property. Property division can often create a lot of tension. Besides child custody matters, it is one area of divorce that typically takes a long time and a lot...
Breadwinners sometimes make selfish divorcees
It is fairly common in Michigan households for both spouses to work and earn a living. However, in most instances, there is a clear breadwinner. This is the person who earns a larger income. Due to the fact that women are new to the workforce compared to their male...
