Law Office of Sarah Dinsmore Riggs, PLLCPlymouth Family Law Attorney | Michigan Divorce & Child Support2024-03-13T09:00:46Zhttps://www.sdrfamilylaw.com/feed/atom/WordPressOn Behalf of Law Office of Sarah Dinsmore Riggs, PLLChttps://www.sdrfamilylaw.com/?p=467192024-03-13T09:00:46Z2024-03-13T09:00:46ZHow do words make a difference?
The language you use should be empathetic and respectful. Using terms like “shared parenting” instead of “broken” home creates an atmosphere with less judgmental discourse. When couples end a marriage, keeping things as amicable as possible often makes a difference.
Normalizing divorce reduces the stigma
Because half of marriages end in divorce, normalizing divorce is an acceptable way of reducing the stigma. Considering positive experiences and outcomes instead of only negative aspects may make things easier. Reframing the experience as something more transformative than traumatic can make it easier to discuss related issues in a calmer, more rational way.
Can strong friendships help in a divorce?
People getting divorced often benefit from maintaining close bonds with friends. Many people feel isolated and stigmatized if they lack a good support system. Going out with friends is one way to establish and reinforce a support system.
Can divorces result in positive relationships?
Although most see divorce as a. negative outcome, it may be beneficial when the parties have an unhealthy relationship. Sometimes the issues that affect a couple in a marriage resolve when they go their own ways. Maintaining a healthy relationship after divorcing is essential for parents as they bring their children up in different homes.
Thinking about divorcing can be challenging. However, reducing the stigma as much as possible helps.]]>On Behalf of Law Office of Sarah Dinsmore Riggs, PLLChttps://www.sdrfamilylaw.com/?p=467172024-02-22T18:11:50Z2024-02-22T18:11:50ZWork with your spouse if possible
Understandably, a vital time in the divorce process involves dividing assets. With Michigan being an equitable distribution state, much can be on the line in a divorce. Many divorce experts recommend speaking with your spouse or having a mediator help determine who gets what in a divorce. If you and your ex-spouse are willing to compromise, everyone can have the best possible outcome.
Planning ahead financially
Even if you and your current spouse are high earners, post-divorce life can mean dealing with significant financial changes. This change becomes even more apparent if you didn't earn income throughout your former marriage. Before you file for divorce, waiting a bit longer to have the required finances ready might be a wise decision.
Expect emotional times
No matter how long a couple stays married, going through a divorce is often an emotional time for all parties involved. This major life change can make you feel angry, depressed, stunned, sad and many other emotions. Some people commonly resolve emotional and difficult times by having a network of support from family and friends.
Getting a divorce is rarely easy. However, you can set yourself up for success by adequately preparing for what's to come. Once the divorce process is over, you can begin enjoying everything your new life offers.]]>On Behalf of Law Office of Sarah Dinsmore Riggs, PLLChttps://www.sdrfamilylaw.com/?p=467152024-02-09T23:52:38Z2024-02-09T23:52:38ZYou may feel conflicted
It's not uncommon for those who are going through a divorce to experience what feel like dueling emotions throughout. For instance, you may be happy that you have regained control over your life but resentment about how your spouse treated you. You may also feel sad about the end of the marriage even if it presents greater opportunities for personal growth.
You may experience a burst of confidence
Opting for a divorce is one of the hardest things that a person can do. This may be true even if your spouse isn't a danger to your health or safety as they may believe that a divorce is an admission that they wasted several years of their lives. However, this is simply a version of the sunk cost fallacy which says that you've already invested too much to try something new. Fortunately, this feeling tends to go away after making the decision to divorce and is replaced by a sense of confidence and empowerment that comes with knowing that anything is within your reach.
While it's natural to experience a range of emotions during a divorce, they shouldn't impact your decision making during the settlement process. This is because an outburst in court or breaking marital property in a fit of rage could reduce your odds of a favorable child custody ruling.]]>On Behalf of Law Office of Sarah Dinsmore Riggs, PLLChttps://www.sdrfamilylaw.com/?p=467132024-01-24T21:39:20Z2024-01-24T21:39:20ZCreate a clear inventory
Valuable items come in many forms. You may have a collection of items valuable only when they're together. Other valuable items can also be singular, potentially including memorabilia, comic books, furniture, coins and jewelry. With so much at stake, it's crucial that no one makes mistakes. That's why you and your former spouse must take inventory of all your valuable items.
Prioritize what you want
As nice as it would be, you're unlikely to walk away from a gray divorce with every valuable item you obtained during your marriage. But you can still endure your divorce and be in good shape afterward by prioritizing what you want. You might have to make a few sacrifices. But that's better than losing all your valuables.
Appraise your valuables
If you or a former spouse own exceptionally rare or unknown items, getting appraisals can be a smart decision to know an item's true worth. Having an expert determine the worth of you and your ex-spouse's possessions ensures both parties walk away with equal assets.
Michigan is a marital property state. This designation means that assets acquired in a marriage are subject to equitable, or equal, division. Because of that, it's imperative to accurately document any assets you acquired before getting married. You shouldn't have to worry about a court awarding valuables you received before your marriage.]]>On Behalf of Law Office of Sarah Dinsmore Riggs, PLLChttps://www.sdrfamilylaw.com/?p=467112024-01-16T05:16:28Z2024-01-16T05:16:28ZBoundaries and circumstances
First of all, whether you and your spouse stay in touch with one another's families after divorce might be affected by a number of factors, including what your relationship with family members was like in the first place and why the marriage ended. Former spouses should respect one another's boundaries when it comes to keeping in touch with family members.
When children are involved
If you have children, there are additional considerations. They may have grandparents, aunts, uncles and cousins that they want to stay in touch with. This could be the case even if you have sole custody. In most situations, it is usually a good idea to let your children maintain relationships with your former spouse's family even if you are not interested in doing so. Your children and your former in-laws should not be punished because of animosity between you and your ex-spouse.
Changes in relationship
You may find that trying to keep a relationship with your former in-laws is too painful despite allowing your children to have one. On the other hand, you may simply need some distance for a while. If they treat you with animosity, you should still try to remain civil.
What to do about your former in-laws is one of the many difficulties you will face during and after the divorce. Whether you maintain a close, distant or nonexistent relationship, you should focus on what is best for first your children and then yourself.]]>On Behalf of Law Office of Sarah Dinsmore Riggs, PLLChttps://www.sdrfamilylaw.com/?p=467092024-01-03T17:18:59Z2024-01-03T17:18:59ZWork with your former spouse
To achieve a divorce centered around your children, you and your spouse must work together through the process. You don’t have to be friends, but remaining respectful and compromising is crucial. Avoid fighting in front of your children as well. It might be difficult based on the circumstances of your split, but arguments should be curbed for the kids’ sake.
Consider staying out of court
Many divorces end up in the courtroom, leading to much emotional turmoil. Traditional proceedings can hurt children and take a long time to end. Instead, consider divorce mediation or collaborative divorce; both allow you and your spouse to take control of your split and give you a chance to end your marriage faster. Your children are also shielded from the proceedings, making things easier.
Focus on your children
You and your former spouse both want the same thing: to keep things civil for your children. During your divorce, focus on your relationship with them. It can help your children feel secure that both of you are still there for them and put them above your differences. Also, never put your children in uncomfortable situations during your divorce; for example, don’t badmouth your spouse to them. It can lead to anger, sadness or resentment against your estranged spouse or even you.
Parents who want a healthy divorce should always put their children first. It keeps things civil and makes things easier for everyone.]]>On Behalf of Law Office of Sarah Dinsmore Riggs, PLLChttps://www.sdrfamilylaw.com/?p=467072023-12-18T00:18:27Z2023-12-18T00:18:27ZBuild a support network
Friends, family members and mental health professionals can all work to help you cope with the stress and anguish caused by a divorce. In addition to allowing you to vent, your support team can help you deal with extreme feelings of loss or abandonment that those with mental illness often experience. Your therapist may be able to prescribe medication or provide referrals to others who may be able to do so. Your therapist may also suggest acts of self-care such as a trip to the spa or a night out with friends.
When your spouse has mental health issues
Your partner may accuse you of child abuse or other acts of domestic violence during a manic episode. Your spouse may also try to take the children, drain money from a bank account or otherwise act irrationally during the divorce process. Ideally, you'll keep records of everything that is said or done, and if possible, alert your own divorce team about any concerns you might have while the marriage is being terminated.
Mental health issues may play a significant role in a child custody case or if your spouse is asking for financial support. This is because a judge will generally not grant custody to a parent who might pose a danger to a minor. Furthermore, a spouse's mental illness may make it harder to work and generate an income.]]>On Behalf of Law Office of Sarah Dinsmore Riggs, PLLChttps://www.sdrfamilylaw.com/?p=467042023-12-05T07:03:33Z2023-12-05T07:03:33ZCreate a budget
One of the most basic steps toward financial recovery is understanding what you have to work with. If you were the lower-earning spouse during the marriage, you may receive alimony from your former partner. You may also receive the majority of funds in a bank account or other resources in a final divorce settlement. If you were the breadwinner during a relationship, you may need to account for alimony, child support or other payments when creating your budget.
Consider downsizing
Downsizing your lifestyle may make it easier to build up an emergency fund or rebuild your retirement nest egg. Cutting back may include selling your house in favor of a condo or apartment that is easier and less expensive to maintain. You may also decide to keep your current car in favor of buying or leasing a new one every three years. Alternatively, you could look for a second job or other ways to make money to support your preferred lifestyle on your own.
In addition to securing your financial future, being proactive during divorce proceedings may also help in other ways. For instance, gathering deeds to a home or the title to a car may help you prove it is your separate property. Furthermore, gathering detailed records may also help if you are seeking custody of a child who was born during the marriage.]]>On Behalf of Law Office of Sarah Dinsmore Riggs, PLLChttps://www.sdrfamilylaw.com/?p=467022023-11-21T03:17:27Z2023-11-21T03:17:27ZMortgage transfer
If your spouse has enough money to take control of the mortgage, you can transfer it to them so that it’s only in their name. This is one of the common and easiest options for people who go through a divorce to deal with the marital home. However, you must provide the lender with a copy of the divorce decree and file a quitclaim deed. If your former spouse is amenable to being the sole mortgage holder, it takes you off the hook for paying.
One party moves out
Some divorcing spouses choose to keep their marital home. For example, if they have young children and want to share custody through nesting, the parties could keep the home, continue jointly paying the mortgage and take turns staying there with their children.
Sell the home
A lot of divorcing couples decide they can no longer continue living in their marital homes; as such, selling the house is often the best option for both parties. If former spouses can find a buyer, they can share the proceeds from the sale.
Refinance your mortgage
Refinancing a mortgage allows for removing one spouse’s name from the mortgage with the lender’s permission. From there, the other party can refinance, which means they are solely responsible for paying a new mortgage. This allows the parties to recover equity from the home; however, the person who refinances still has to pay until the remaining balance is paid.
During a divorce, there are always options for dealing with your mortgage. One might be more appropriate based on your personal or financial situation.]]>On Behalf of Law Office of Sarah Dinsmore Riggs, PLLChttps://www.sdrfamilylaw.com/?p=466992023-11-07T03:46:00Z2023-11-07T03:46:00ZStock options as executive compensation
Many companies permit employees to purchase future stock at the original grant price. However, stock and restricted stock have vesting periods that prohibit usage. This period lasts 1-5 years.
An example of this principle is Amazon employees, who started in 2016 with a 5-year vesting period ending in 2011. Because the 2016 grant price was $600, these stocks would turn large profits.
However, in the year someone exercises these options, the earnings receive the same treatment as ordinary income for tax purposes. The taxes might be 40% or more, depending on the tax bracket.
Taxes are always essential to remember when dividing your assets. For restricted stock, the entire value becomes taxable after the end of the vesting period.
Asset division is important
Leaving before the end of the stock's vesting period or not meeting performance benchmarks can result in the forfeiture of these assets. Some of the most common vesting schedules companies use are cliff vesting for a designated number of years or graded vesting, which uses a percentage after each service year.
One thing that complicates the separation process sometimes is companies having restrictions against transferring stock. Many executives put such stock in a constructive trust to benefit the non-employee spouse.
Following the trail
A genuine problem that may arise during a divorce is a spouse's "hiding" incentive compensation plans. Ensuring that you have assistance with finding these assets is essential.
Understanding how executive compensation can impact your divorce is essential. When you have the necessary assistance, you can ensure you get what is due.]]>