Ten ways in which a divorce could affect your credit score: 1.) Having to refinance your home 2.) The splitting of the debt was uneven 3.) Going from two incomes to one 4.) Not disclosing all debt during the proceedings 5.) One party doesn’t pay his or her agreed-upon share…
While the overall divorce rate is decreasing, the divorce rate for people over the age of 50 has increased from 1 in 10 to 1 in 4. MarketWatch created a checklist to help mitigate the financial risk associated with divorce over age 50. Below is a list of items to…
Researches have come up with 7 common reasons couples end their marriage. 1.) Infidelity 2.) Substance abuse 3.) Lack of commitment 4.) Too much conflict and arguing 5.) Growing apart 6.) Financial problems 7.) Getting married too young If any of these issues have affected you, and you are considering…
For 2018, the estate tax exemption has increased to $5.6 million per individual, increased from $5.49 million in 2017. Thus, a married couple will be able to shield $11.2 million from federal estate and gift taxes. The annual gift tax exclusion has finally increased to $15,000, after remaining at $14,000…
The grounds for annulment in Michigan are as follows: 1.) Prior spouse of a party: a marriage is void if it is performed while one of the parties is currently married to someone else.2.) Relationships of consanguinity and affinity: marriages between parties related within certain degrees of consanguinity or affinity…
In Rolley v. Rolley, an Indiana Court was faced with the issue of child support modification, when the parties had deviated from the child support guidelines. When Father and Mother divorced, they reached an agreement regarding child support that substantially deviated from what would be ordered by applying the Indiana…
Child support is based upon a formula that takes into consideration the incomes of both parties, the amount of overnights the payor has with the child, health care costs, child care costs, and tax exemptions. Child support is generally paid through the Friend of the Court, which will keep track…
It is important to comply with your parenting time order at all times. Please keep in mind that holiday parenting time differs from your regularly scheduled parenting time. Holiday parenting time will “trump” your regular parenting time schedule. If the other parent is refusing to allow you to see your…
Highest/Lowest Divorce Rate by State:The State with the highest divorce rate is Nevada, with 14.7% of marriages ending in divorce.New Jersey, on the other hand, has the lowest divorce rate, at only 9.1%. Top Reasons to Marry:1.) Love,2.) Making a lifelong commitment,3.) Companionship,4.) Having children, and5.) Financial stabilityTop Reasons to…
If you are in the process of obtaining a divorce, you are probably focused on getting on with your life. However, you also need to spend some time thinking about the important documents governing your death. It is important to update all of your estate planning documents during or after…