FINANCIAL COACHING: HOW CAN IT HELP YOU?

Do you have a complete understanding of your finances? Are you aware of what you spend and your overall financial health? If not, you fall into the vast majority of people. While financial awareness is critical during the divorce process, anyone can benefit from working with a financial coach, like Kimberley Demarest of Be Knot Afraid, to ensure they are as informed, educated and aware as possible to empower themselves financially. If you have any questions about your marital estate and financial issues relating to your divorce, please contact us.

WHAT HAPPENS IF YOU HAVE A CHANGE OF HEART?

People sometimes ask me, “What if I file for divorce and then change my mind?” It happens. A Complaint for Divorce can be dismissed voluntarily with a one page court form by the moving party prior to entry of a Judgment of Divorce. Now, if you file, and your spouse files a Counter-Claim, and you want to dismiss and they do not, then, the case is moving forward. But, filing is just the beginning of the process – you have a few months at a minimum, if not considerably longer in many cases. And, I have seen it happen – if you file for divorce, finalize your divorce, and, decide you want to get back together…you still can! If you have any questions about the process and procedures in filing for divorce in Michigan, please contact us.

WHAT IF YOU AND YOUR CO-PARENT DISAGREE ON HEALTHCARE DECISIONS?

Assuming you and your co-parent share joint legal custody over your minor child(ren), that means you each have equal rights to their medical information, records, appointments and major decision-making. Often times, divorced parents have different views on healthcare (i.e., vaccines, procedures, prescriptions). If joint legal custodial parents cannot agree on major medical decisions, they go to court to battle these issues (which is often very expensive, time consuming and emotionally draining). Most often, courts will follow the accepted standards of medical experts and healthcare professionals. If you would like to discuss these sensitive family law issues or any others so you can be as informed as possible, please contact us.

WHAT ARE YOUR OPTIONS WITH THE MARITAL HOME DURING DIVORCE?

For 99% of people, their largest asset is their home. During divorce, determining disposition of the marital home is often the most significant financial item in the resolution of the marital estate. Some parties agree to sell the marital home and divide any remaining equity equally; others will reconcile prospective equity in the marital home with setoffs from other financial assets in the marital estate. Or, if there is an interest and financial ability, one party can be awarded the marital home in exchange for a buyout. If you have any questions about disposition of your marital home during divorce, please contact us to discuss your options.

DIVORCED IN 16 MINUTES? NOT QUITE THAT QUICK, BUT, NOT TOO MUCH LONGER

I just finished a divorce case in with Minor Children. My client’s entire time in Court to finalize their divorce was 16 minutes (yes, 16 minutes, via Zoom). Obviously, the case took longer than 16 minutes – but, the vast majority was done and completed during private, discrete, collaborative off-line meetings and communications – no pressure of court hearings, deadlines and time frames. Despite popular beliefs, there are several different ways to get divorced, and, ways in which to customize and tailor the process as much as possible for you and your family. Should you have any questions, please contact us.

THE INTERSECTION OF FINANCIAL PLANNING AND DIVORCE (PART 1)

Attorney Max S. Emmer speaks with Nicole Gopoian Wirick, JD, CFP, in a three (3) part series on the intersection of financial planning and divorce. Nicole is a financial advisor with a law degree, certificate in financial planning and myriad experiences making her a uniquely well-rounded and expert financial professional. Should you have any questions, please contact us today.