While many Michigan residents are aware of the statistic that nearly fifty percent of all marriages will end in divorce, couples usually do not marry thinking they will inevitably divorce. But despite the best of intentions, divorce can happen. When it does, both parties are required to disclose all assets as part of the legal divorce process and for equitable division of assets and property.
Marriage has its charms -- companionship, family life, children, typically a higher standard of living, and more. Most do not think of what might happen if the marriage were to result in divorce. When irreconcilable differences arise, divorce may be the only option for the emotional well-being of the parties and their children. However, one's financial well-being during and after a divorce, particularly in today's hard economic times, is a whole different issue for divorcing parties to handle.
Marriage and weddings are a joyous time for both sides and families involved. It is union of two people, their families, intermingling of assets and the like. People about to marry typically do not think of divorce or problems in the marriage at the time of the nuptials. Nevertheless, marital bliss can change into marital discord for various reasons and one party may want a divorce. In such an event, the parties may wonder if, before their nuptials, they should have considered a prenuptial agreement.
In today's globally connected world, readers in Michigan likely find ways to connect with family, friends and others through social media sites such as Facebook and Twitter. Those posts may share one's activities, photos, philosophy, emotions and more. However, sharing too much information on the Internet may get some people, particularly those in contentious and bitter divorces, in trouble.
When children are involved, many divorcing couples in Michigan might try to have an amicable divorce to spare their children from additional hurt. However, in an effort to avoid disputes or upset the mood, they may overlook key issues in the division of marital property.