When couples decide to divorce, some may be able to civilly and amicably resolve their issues and have a fast, uncomplicated divorce. On the other hand, other couples may have to tackle complicated family law issues ranging from alimony to visitation, which may take longer to resolve. Regardless, divorce is not an easy process for anyone involved.
When it comes to financial issues in divorce such as alimony, Michigan residents may find it interesting to learn that according to a certified financial planner, flexibility is important. The CFP notes that late alimony and support payments commonly occur but if a payment is only a few days late, there is no need to go to court over the issue. However, payments that are late by a month or more may require court intervention. She further notes that constantly being difficult with one’s ex-spouse about a payment that is late only by a few days may impact one’s ability in resolving other issues such as parenting time.
Furthermore, she notes that it is better for the party receiving alimony payments to prepare himself or herself by saving a portion of the previously received monies; therefore, if there is a late payment, one has enough to survive on. She also notes that change in circumstances, such as an increase or decrease in income, may impact the amount of alimony one receives. A motion can be filed to re-examine or modify the alimony order if there is a significant or substantial change in circumstance.
In Michigan, not only do the courts follow guidelines when determining the amount of alimony, but it also considers factors such as the length of marriage, the earning capacity, age, and health of each party before determining the amount. Nevertheless, it is important to remember that the payments are negotiable.
Source: The Gazette, “It’s your money: Flexibility is key with child support and alimony,” Linda Leitz, July 15, 2013
