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Posts tagged "retirement accounts"

Helping people who are struggling with property division

When many people get married, they probably don't think about some of the future issues they may have to deal with if their marriage comes to an end. From child custody and support to property division, divorce can be very difficult. However, the division of property can be particularly stressful and emotional for those who are going through a divorce, especially if they aren't prepared. At the law offices of Lorrie J. Zahodnic, we work hard to help ensure that our clients in Clinton Township and other parts of Michigan receive their fair share of property after separating from their spouse.

Some may file for ex-spouse's Social Security benefits

Divorcing husbands and wives in Michigan have many issues to attend to. Property division, business division, spousal support and potentially child support are just some of the common areas about which settlements must be reached. Some topics involve assets and liabilities that are concrete today, like a house or car. Others, however, can involve assets more likely to affect a person’s future. Retirement accounts, pension fund and social security benefits are some such examples.

Decisions regarding pets can be difficult in a divorce

When facing a divorce, couples in Michigan have a seemingly endless list of issues with which to deal. From spousal support to property division, the range of topics is varied and complex. Within the realm of property division can fall many sub-topics as well. These can include a couple’s home, automobiles, vacation home, bank accounts, retirement accounts and even business assets. The need to determine what is marital property and what is non-marital property can also be a challenge at times and directly affect the ultimate settlement.

Defining marital property and debt in a divorce

Michigan is known as an equitable distribution state for the purposes of a divorce. This means that when dividing assets, the split does not need to be exactly even for both parties but needs only to be what is considered fair to both given the circumstances at hand. It is also important to remember that property division does not simply include assets but also liabilities. When determining which spouse will end up with what asset or what debt, the courts must also identify what is marital property and marital debt and what is separate property or separate debt.

Ways to get the most out of a prenuptial agreement

When considering marriage, the concept of simultaneously considering divorce via the creation of a prenuptial agreement can be hard for many Michigan couples to contemplate. However, realities about property division, especially if a business is involved or if one or both spouses high significant financial holdings, can make a premarital contract a wise decision.

Retirement account handling during divorce requires care

Divorce settlements are complex and often include details relating from child support to complex property division and many things in between. Michigan couples can be overwhelmed by the immediate needs of identifying child custody and division of tangible marital assets can find it difficult to focus on longer-term topics such as retirement accounts but the importance of identifying a property division plan for all assets, whether tangible or intangible, at the time of the divorce cannot be stressed enough.

Lorrie J. Zahodnic

"I will hold you up until you can stand on your own two feet."

Lorrie J. Zahodnic, P.C. has provided skilled and compassionate legal guidance to Michiganders in family law matters for over 20 years.

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