Spousal support (also known as alimony or maintenance in other states) is often complex and a gray area in Michigan. Because Michigan doesn’t have written guidelines or a formula for spousal support, its determination can be largely based on the discretion of a judge. However, since the vast majority of divorce cases in Michigan aren’t …
Year-End Tax Planning Tips for Divorcing and Divorced Clients to Help Avoid the “Coulda, Shoulda, Wouldas”
If you are in the process of divorce or if your divorce was final sometime this tax year or prior, you are probably unsure about the impact of divorce on your taxes. In fact, I seem to get the same questions every year around January, when it is too late to do any tax planning …
Five Tips to Protect Your Credit Score During Divorce
During a divorce, most people anticipate that their credit score might temporarily go down a bit. However, some of my divorcing clients experience sustained and significant declines in their credit score. Why does your credit score matter? If you’re planning to refinance an existing mortgage into your name, buy a new house with a reasonable …
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Is Time Running out on Getting Your Qualified Domestic Relations Order?
This month, I interviewed my own former spouse David Roessler on my podcast, “Wealthy After Divorce”, which will air on July 21, 2022. Dave is the owner of Divorce Solutions, a Southfield, Michigan based Qualified Domestic Relations Order (QDRO) preparation firm and has over 20 years of experience working in the QDRO minefield. I am …
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The Value of a Certified Divorce Financial Analyst
Although most professionals understand the need for advice that’s specifically geared to the financial issues in divorce, occasionally, a potential client asks me why they need a Certified Divorce Financial Analyst (CDFA). When so much money is already being spent on legal fees, does the average divorcing client need a specialized financial expert? The reality …
Will I Have Access to Money When I File for Divorce?
Understanding how your money works at the beginning of and during divorce. A common fear at the beginning of a divorce is that the person filing will not have access to bank accounts or funds if they decide to start the divorce process. This can be an impediment to filing and a major source of …
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