The first of January marks a new year, and for divorcing couples this can be a great time to focus on the life changes they are making. Setting goals that will help you get through the toughest days of divorce can allow you to move on to happier times and take on the future with confidence. Here are some of the top resolutions for the new year from some of the top minds in the business.
Some people in Michigan who divorce may have been married for 20 or 30 years or even longer. Divorce among older people is on the rise, and in 2014, divorce was twice as common for people over 50 than in 1990. The number rises even higher for people over the age of 65.
Although some Michigan families are able to work out a system that allows everyone to continue to have strong relationships following a divorce, other former spouses are unable to set aside their differences. This can have a serious impact on the children, as they could potentially become pawns for their parents.
Once you have chosen an attorney, you should focus on additional aspects of preparing for a divorce. An experienced lawyer can help you navigate the legal angles of your case, but there are things you can do to increase your chances of receiving a fair settlement. Most of these will be easier to do while you are still married.
People in Michigan who are divorcing and who are carrying student loan debt might wonder whether that debt will be affected by the divorce. In general, student loan debt acquired prior to marriage remains the property of the person who took out the debt. Student loan debt acquired after marriage is treated like other asset in marriage, and it will be split in the divorce.
Divorce among older couples in Michigan is on the rise, and now many baby boomers are entering their retirement years newly single. Divorce among people over age 50 has more than doubled in the past two decades. Several new studies have shown that late-life divorce may not be good for women's retirement plans.
Each year, thousands of couples decide that their marriage has come to an end. The Center for Disease Control and Development reports that over 2 million marriages were formalized each year and over 800,000 divorces and annulments were performed since 2000. One way that the many couples seeking divorce can make the process easier is by preparing for the process beforehand.
A divorce may signal the end of a relationship, but it may not be the end of the money problems that a Michigan couple may have. If a couple has joint debts, both parties may be obligated to pay for them. This means that if the other spouse fails to pay any debt that he or she agreed to take care of, the credit scores of both people could be hurt.
Around 45 to 50 percent of first marriages end in divorce, and many of these relationships break down due to financial disagreements. Michigan couples might be able to lower the likelihood of divorce by discussing their own financial situations and attitudes about money prior to tying the knot. For example, couples should be clear about what assets and debts they are bringing into the marriage. This should include sharing credit ratings and any previous bankruptcies. Some couples may also want to consider a prenuptial agreement.
Michigan residents may be interested to know how child support is determined. A number of high-profile child support cases may contribute to the common misconception that child support paid to single mothers are usually excessive. However, the purpose of child support is to make sure that the children have access to the same standard of living they would have if their parents were married.