Going through a divorce is one of life’s greatest emotional stressors, even when you’re the one who initiated the process. One aspect that often causes significant stress is dividing personal property. As a Certified Divorce Financial Analyst (CDFA), I’ve witnessed firsthand what can happen when emotion takes control. I’ve had clients spend thousands of dollars…
How is Spousal Support Decided in Michigan?
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…
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…
Episode 84: Understanding Spousal Support with Peter Bissett
In this episode, Melissa Joy CDFA® is joined by attorney Peter Bissett, PLC to discuss spousal support. Peter works both in litigation and collaborative law practice, and focuses solely on divorce, custody, and parenting time proceedings. In this episode, Melissa and Peter address the many variables that go into determining spousal support in the divorce…