Despite being emotionally prepared to file for divorce, many people in Michigan delay filing for divorce because they feel as if they are not financially ready. This effect might be especially pronounced among Baby Boomers and those either close to or in retirement. Many are justifiably concerned about their financial security during retirement and the implications of splitting their retirement assets during divorce. In family law, not everyone understands that drawing Social Security benefits based on an ex-spouse's work history is possible.
Co-parenting is a popular trend in child custody, but is it right for everyone? Unlike traditional approaches that give one parent primary custody and the other visitation, this process requires an enormous amount of compromise and negotiations from both parents. Here are a few things that Michigan parents might want to keep in mind when dealing with this difficult family law topic.
Writing a will is something that is easy to procrastinate. You may assume you have a long life to live and that you can create your will several years down the road. However, if you die without a will in place, it can cause a lot of complications regarding your assets and beneficiaries.
Even those who go into divorce with the best of intentions can easily find themselves caught up in their own emotions. From sadness to anger to resentment, divorce can be as much of an emotional process as it is a legal one. While this is normal, letting those emotions run the show is not a good idea. Here are a few family law pitfalls Michigan divorcees should be aware of.
Securing a strong financial foundation after divorce is essential. Figuring out how to maintain that foundation can be a bit scary, though. Household income might be drastically reduced or, in the case of a spouse who was not employed, completely nonexistent. This can be a scary prospect that even holds some people back from filing for divorce in the first place. However, alimony -- which is an important part of Michigan family law -- can help ease some of these fears.