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10/ 14
Finding out that your ex-spouse hid money, property, or other assets during your divorce can feel like a betrayal all over again. Michigan law gives you options if you discover the truth after your settlement is finalized. It's important to understand concepts such as: Reopening a judgment: Courts can revisit a property settlement when new evidence of hidden assets comes…
09/ 20
Dividing a home during divorce is rarely straightforward. For most couples, the house is the largest shared asset, and figuring out what happens to it can feel like one of the most stressful parts of the entire process. You should understand the following: Marital vs. separate equity: Only equity built during the marriage is typically subject to division Equitable distribution:…
08/ 11
Dividing stock options, bonuses, and deferred compensation is anything but simple. If you or your spouse has these types of assets, here is what you need to know before your divorce is finalized: Vested vs. unvested assets determine what is divisible right now and what depends on future events Valuation timing affects how much an asset is actually worth at…
06/ 21
A divorce involving a business or professional practice adds a significant layer of financial detail to property division. If you are wondering how courts place a monetary value on these assets, the process generally involves a few specific steps. In a Michigan divorce, courts and financial professionals value businesses by: Applying standard valuation approaches, such as the income or market…
05/ 19
Divorce can bring a seemingly insurmountable wave of emotional and logistical challenges. Amid the stress of asset division and relational changes, financial uncertainty often becomes another heavy burden. Many individuals worry about how ending their marriage will impact their financial independence and creditworthiness. To effectively protect your credit score during a divorce, you should take proactive steps to separate your…
03/ 16
If one spouse seems not to be playing fair with finances during a divorce, the fear that money is being funneled away can add a layer of anxiety to an already stressful situation. At Iafrate & Salassa, P.C., we understand that securing your financial future during divorce is critical. Our attorneys have nearly 50 years of combined experience helping Michigan…
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