Depending on its complexity, it can take months or years to settle a divorce. However, the divorce settlement is merely the first step when it comes to managing finances after a Michigan resident ends a marriage. As soon as the divorce is finalized, it may be a good idea to make changes to beneficiary designations. This may help to ensure that a former spouse does not inherit assets when that individual passes.
Hurt feelings and disappointments play a role in almost any divorce in Michigan. When someone's actions are especially hurtful, a former spouse might naturally want revenge and look to a court to make it happen. Long legal battles, however, come with high price tags, and the research of one social psychologist identified negative long-term results from exacting revenge upon someone.
When Michigan couples decide to end their marriages, the financial implications are often a major source of stress and detailed planning for the future. The end of a marriage can carry significant consequences for both divorcing partners far beyond the emotional disentanglements and the complications of custody. Indeed, a divorce can have long-term effects on the financial stability of both spouses and can impact a wide variety of accounts. One less-considered aspect of financial changes after divorce involves taxation.
Some Michigan couples may be familiar with the work of the writer and marriage counselor John Gottman, who says that he can predict with reasonable accuracy which couples are more likely to divorce. While Gottman says that defensiveness, stonewalling and criticism are all dangerous behaviors for a marriage's health, he has identified contempt as the main predictor of divorce.
During a divorce, a Michigan couple has the choice of negotiating a settlement or going to court. With proper preparation, negotiation may be possible. However, for this to be successful, people should understand their finances, state law and their priorities as well as those of their spouse.
Social media, smartphones and other technology can play an important role in the divorces of Michigan residents. Whether social media postings led one partner to rekindle an old relationship or the use of video games or other technology led to distance in a marriage, divorce has become just as connected to tech as other aspects of modern American life. Even when technology had no connection to the decision, people may be concerned about social media rumors or stories about screenshots being introduced into divorce proceedings. However, an even greater and more dangerous concern can be digital spying or electronic surveillance that makes use of GPS tracking, smartphone apps, remote video recording and other devices.
For families in Michigan and throughout the country, a divorce may eventually result in bigger ones. A study found that counting stepchildren in families with adult children gives a number that is 66 percent larger.
Usually, the prospect of divorce is something a couple has discussed or knows is coming. Increased arguments, spousal absence and emotional distance are a few signs. Couples may even try legal or informal separation first.
Parents in Michigan who get a divorce might need to plan for how they and their children will spend the holidays. Having children move between homes can be stressful for the children, but parents usually want to see their children for holidays as well. One of the first steps parents should take is putting the focus on the children instead of their own feelings.
When Michigan residents get divorced, they may need to determine how assets are divided. This can be especially challenging for women entrepreneurs whether they are sole proprietors or business partners with their soon-to-be ex-spouse. The more a woman entrepreneur knows about the actual value of her business and any potential debt or future growth her business can expect, the better position she will be in to have a favorable outcome during the divorce.