Cena and his wife Liz Cena have begun divorce processes after three years of marriage. Upon filing for divorce, Cena was met with claims that his estranged wife is seeking monetary gains that she believes she is entitled to for standing by the wrestler's side for 14 years. The couple did sign a prenuptial agreement in 2009; however Liz Cena has declared that she is hiring a prominent attorney who has represented other wrestlers' wives during their divorces to help her with her claim.
]]> Both Hogan and Flair faced financial ruin in the wake of their divorces and some WWE observers express concern that Cena may join their ranks. While it is widely recognized that these kinds of high asset divorce cases can carry on and feature exorbitant requests from spouses who are determined to maintain their standard of living, the men behind the money apparently suffer cruelly in the process and are themselves reduced to a lower standard of living.But it is not only wrestlers in high asset divorces who can experience such financial ruin. Average Michigan men facing divorce may find that they, too, are falling prey to potential financial ruin in the face of divorce. Financial disagreements can affect the man uniquely, limiting his ability to make child support or alimony payments and his overall ability to bounce back financially if there is a large settlement to be paid to the ex-wife based on a prenuptial agreement.
In today's economy, the standard of living of both parties; their needs and expenses; and what will protect them in the long run, must all be considered.
Source: Yahoo! Sports, "John Cena Divorce Prompts Wife to Hire Hogan Attorney; A Fan's Perspective," Ryan Drew, May 10, 2012
]]>The decades since that time have provided Americans -- including us in Michigan -- with a very different picture of holy matrimony than the one seen, say, in the 1960s. But the truth is that divorce rates in our country have fallen in the last 20 years. Despite the fact that women are still a major part of the workforce, and simple divorces are still common, divorce rates in the United States have been on the decline.
]]> Some credit this change to the fact that many people are waiting longer to get married. In addition, it may be that married couples have begun to better manage their two-income households.While recent studies indicate a number of factors that may have contributed to the lower divorce rate, certainly not every couple in the Lansing area falls into the category of "happily married." A decline in the divorce rate effectively puts a positive spin on the overall view of marriage in the United States. Still, many couples -- 30 percent of Americans, according to the newest numbers -- find themselves faced with the necessity to divorce. With that in mind, men and women in Michigan who are considering divorce should know that they are not alone.
Source: CNBC, "As Two-Income Family Model Matures, Divorce Rate Falls," David Milstead, May 7, 2012
]]>It is important that you understand your life insurance policies, and speak with your divorce attorney about how these policies might be worked into a spousal support or divorce settlement. If you are receiving spousal support, and your ex-spouse dies, you might find yourself struggling to get by, if you are dependent on that income. To avoid this situation it might be a good idea to try to work out a deal with a life insurance policy, so your financial situation is protected.
]]> Making sure you have proper insurance is important in protecting the financial future of you and your children after a divorce. If the policy has a cash value associated with it, an agreement might be worked out to split that value. Because of the complexity of financial matters and divorce, it might be a good idea to speak with a divorce attorney that is experienced in dealing with financial professionals to make sure your post-divorce finances are secured.Having financial peace of mind after a divorce is a major step in moving forward in your personal life. Making sure you understand your life insurance policies is important in achieving this financial peace.
Source: The Huffington Post, "Divorce Questions: How Can Divorce Affect My Life Insurance Policy?," May 2, 2012
]]>Getting a divorce during a time of economic uncertainty means it is even more important that people in Lansing understand their own personal finances. This will greatly help them during the divorce, and after it is final.
]]> When people go through a divorce in Lansing, it is helpful that they prioritize their financial concerns. Some financial things to consider during and after a divorce include:•· Not arguing with your ex spouse about property that is mostly meaningless. If there is now sentimental value and it won't cost much to replace, is the stress of arguing about it worth it?
•· Using your credit cards can get you into trouble. If you have to use them, make sure you are paying off your balance on time. Charging purchases with no regard as to how you will pay them after the divorce could be a financial disaster.
•· Don't default on your mortgage or miss your rent payments. It is important to maintain the house over your head when you are going through a divorce.
While these points can be helpful, it is important to discuss your situation with your attorney. They can understand your unique situation and recommend a timeline and how the divorce process works.
Source: The Huffington Post, "Top 5 Ways to Ensure Financial Security During your Divorce," Bredan Lyle, April 23, 2012
]]>An attorney can help evaluate all the options and work to protect your reputation and the security of your family. The man was supposed to pay the woman $50,000 because of the child support payments. Even after it was discovered that he wasn't actually the father, the court still said he had to make the back payments. Eventually the woman waived her right to the payments and the man's family is putting the situation behind them.
]]> Although they may be moving on from the incident, it definitely impacted their lives. The woman who was asking for child support likely will have a hard time finding the father of the baby. The man's wife was forced to raise their two children while he was in jail for something he shouldn't have been.Just the consequences of the accusation can be detrimental to a family or a person's reputation. Child support payments are necessary for Michigan families who need them, but it is important that payments are coming from the correct person. Thankfully, this case got sorted out and the man is not working on returning to a normal life after a six year dispute.
Source: CBS DFW, "Man Jailed For Child Support For Baby That Wasn't His," April 12, 2012
]]>Analysis of the numbers shows that more parents are cohabitating, rather than getting married. Whatever the reason for this increase, Michigan parents should know that they have rights to see their child even if they aren't married to the other child's parent.
]]> Parents who cohabitate can sometimes split up and decide to no longer live together. Many people in this situation might think that since they aren't getting a divorce, they don't need to worry about their child custody agreement. Sometimes, Michigan couples are able to work out a child custody agreement without the need for a judge to decide the agreement.It is always a positive thing when two parents can come to an agreement, but it is important to make sure the agreement is legally binding, so one parent doesn't try to change it down the line. This may require the approval of a judge, depending on each unique situation.
Speaking with a family law attorney might be a good step in making sure your child custody agreement is officially recognized. If two parents can't agree on a custody issue, an attorney can help pursue the best route for your situation in ensuring the best interests of each person and their children.
Source: USA Today, "More children born to unmarried parents," Sharon Jayson, April 12, 2012
]]>When a judge decides on child custody, they often take into account where the child will have the best upbringing based on many different variables. These variables can sometimes sway a judge's decision on whom to award custody to.
]]> Because child custody issues are extremely sensitive in Michigan, there are a few things parents might want to avoid doing when having a child custody case heard. Here are just a few:•· Don't move in with your new boyfriend of girlfriend. Many times judges look down on parents that move in with new significant others during a divorce, especially when children haven't had time to accept that their parents are going through a divorce.
•· Make sure you communicate with the other parent. Don't take the kids on a two week long road trip without telling the other parent. This can get a parent into trouble when the other one doesn't know where their kids are.
•· Allowing your kids to talk on the phone with the other parent is important. Withholding the ability for them to speak with both parents whenever they need them could isolate your children.
While it is important to remember that every Michigan divorce has unique circumstances, these tips might be a good starting point when facing child custody issues.
Source: The Huffington Post, "Ways To Sabotage Child Custody," April 2, 2012 Joseph E. Cordell
]]>Many people going through divorce in Michigan can become overwhelmed with the amount of paperwork and requests by both parties for documents. Having all the right documents in the right places can help you recall them quickly when they are requested, reducing stress and helping the process move along quickly.
]]> When seeking a divorce in Michigan, it is important to prepare before actually filing for a divorce. Some ways a person can start to get organized for a divorce include:•· Set up a secure way to communicate with your legal and financial teams, such as a post office box.
•· Open checking accounts and credit card in your name individually. This is much easier to do while still married.
•· Monitor your spending and know exactly what should be coming in and leaving your bank accounts.
•· Estimate how much it will cost you to live independently after the divorce. Having great communication with your attorney and financial team will help.
•· Gather all financial and legal documents including retirement account information and your marriage certificate.
Although these are ways you can start to get organized, a divorce attorney may be able to help ensure your best interests are protected throughout the divorce process.
Source: Forbes, "Why Women Who Are Organized Often Do Better in Divorce," Jeff Landers, March 27, 2012
]]>This can often cause some debate, but many times through negotiations, couples can work out a fair property division agreement. Although very small in size, a wedding ring may fall at the center of the property division debate. There can be significant monetary and sentimental value attached to a ring that may be hard for some people to give up.
]]> Whatever the case for a spouse wanting to keep the wedding ring, there may be certain ways to determine who has the rights to it. This often depends on the local jurisdiction of the divorce, who bought the ring and how it was given to the other person, as well as reason for the divorce.Speaking with an attorney who is experienced with property division in Michigan divorce can help each spouse understand the legal process involved with property division. They can also help work out a fair agreement to help divide the couple's property.
Until a divorce decree with a property division agreement is worked out, it might be a good idea to have the wedding rings appraised and then store them in a safe place. Having property appraised will help the couple obtain an overall picture on the value of their property.
Source: The Huffington Post, "5 Things To Know About Your Jewelry When Getting A Divorce," Steve Hami, March 20, 2012
]]>One of the things a judge might consider is which parent is involved with the child's school. While each parent might be aware of the child's grades, and both may take turns dropping them off and picking them up from school events, a judge may dig deeper to see who is most directly involved.
]]> Being in direct contact with teachers and school officials will help a parent better understand how they can become more involved in their child's education. This might include attending school functions, even if it means taking off of work to do so, helping kids with school projects and being in constant communication with teachers.Not only will involvement in a child's education help in a legal child custody decision, but it will benefit both parent and child in their long term relationship.
The more involved a parent can get, the more likely they are to have a positive influence on a child's life. A Michigan judge making a child custody decision may take note of all these things when making his or her decision. Getting help from an experienced child custody attorney may help parents deal with the legal aspects of their case so they can focus on being involved with their children.
Source: Huffington Post, "Want Custody Of Your Kids? Get Involved With Their School!," Joseph E. Cordell, March 8, 2012
]]>Because the IRS only recognizes alimony that is mandatory, it is important to make sure that proper legal documents are in place to prove that alimony is paid and received as determined through a legal agreement.
]]> These legal agreements could include a divorce decree, or something such as an alimony decree. Once a document is in place mandating alimony payments, the IRS will consider the payments during tax calculations. Those who pay alimony should be able to deduct their payments from their taxes and those that receive payment might have to claim the payments and pay income tax on the money received.Money that is given to an ex-spouse out of good will may not be able to deduct the payment on their taxes. They person receiving payments will also want to distinguish what constitutes an alimony payment versus a child support payment. These two payments act differently with regards to taxes, so it is important to know what the money received counts as. This is especially important if a former spouse neglects part of either of the payments.
Having a divorce decree that spells out specific details of payments will help prevent problems while filing for taxes.
Source: Forbes, "Taxes From A to Z: A Is For Alimony," Kelly Phillips Erb," March 3, 2012
]]>There are several situations, in particular, where a legal separation may be a better idea than divorce.
]]> Though divorce has become more acceptable, some will want to avoid it for religious reasons. Others may want to continue supporting their spouse, but don't do well living with them.A couple may want to stop at legal separation in order to continue having the ability to file joint tax returns. While this can save money in some situations, it will not do so in every situation. In states which issue decrees of separate maintenance, the partners are not longer married for tax purposes. But in states that don't issue these decrees, the partners may continue filing joint tax returns until they are officially divorced.
Another reason to avoid obtaining a divorce is to continue receiving health insurance and Social Security benefits. Each plan will be different, but many will continue covering separated spouses. Most will not cover divorced spouses. As far as Social Security benefits, a divorced spouses may be able to claim better benefits if the marriage lasted 10 years or longer. There are other factors that go into benefits determinations, though, and it would be best to speak with an attorney about timing of a divorce for Social Security purposes.
One thing to keep in mind is that legal separation may affect property division if the case ever goes to divorce. There are other matters to consider as well. Whatever one's reasons for considering legal separation as an alternative to divorce, it is best to speak with an attorney prior to taking action.
Source: Reuters, "3 Reasons to Get a Separation Instead of Divorce," Andrew Chow, March 1, 2012.
]]>Those who haven't paid child support might have had a freeze on their bank accounts, and if money is deposited into the accounts they would be unable to access any of it, and may have some of it returned to the government.
]]> The government may take back funds from frozen accounts if the parent owed child support and their child was on welfare while the parent was unable to pay. The money will go toward paying back the welfare as well as interest. If the child is still in need of the money, then some of the payments may still go to them.Because the people receiving disability checks were unable to work, and their benefits would not support the amount of child support they owed, many people will find themselves in a dilemma because of this new policy.
In the past those with frozen bank accounts could bypass their frozen bank accounts by cashing physical checks they received from benefit payments. Now they may lose most of their income because they were unable to pay child support in Michigan. Those who are not able to pay would be wise to speak with a child support attorney before their problem becomes unmanageable.
Source: Associated Press, "Child support debts may leave some with no income," Daniel Wagner, Feb. 28, 2012
]]>There are several situations, in particular, where a legal separation may be a better idea than divorce.
]]> Though divorce has become more acceptable, some will want to avoid it for religious reasons. Others may want to continue supporting their spouse, but don't do well living with them.A couple may want to stop at legal separation in order to continue having the ability to file joint tax returns. While this can save money in some situations, it will not do so in every situation. In states which issue decrees of separate maintenance, the partners are not longer married for tax purposes. But in states that don't issue these decrees, the partners may continue filing joint tax returns until they are officially divorced.
Another reason to avoid obtaining a divorce is to continue receiving health insurance and Social Security benefits. Each plan will be different, but many will continue covering separated spouses. Most will not cover divorced spouses. As far as Social Security benefits, a divorced spouses may be able to claim better benefits if the marriage lasted 10 years or longer. There are other factors that go into benefits determinations, though, and it would be best to speak with an attorney about timing of a divorce for Social Security purposes.
One thing to keep in mind is that legal separation may affect property division if the case ever goes to divorce. There are other matters to consider as well. Whatever one's reasons for considering legal separation as an alternative to divorce, it is best to speak with an attorney prior to taking action.
Source: Reuters, "3 Reasons to Get a Separation Instead of Divorce," Andrew Chow, March 1, 2012.
]]>Recently, a child custody case was dismissed after nearly ten years of court proceedings. The case involved a man from Britain and a woman from the United States with a child born in the U.S. They couple lived in Chile for a period of time when they separated. The couple was ordered to keep the child in Chile unless they received consent from both parents.
]]> The mother took the child to the United States where a court battle has ensued ever since. The father wanted custody of the child, but eventually the child turned 16 and the case was dismissed. The Hague Convention established a treaty which countries are supposed to follow regarding international child custody disputes, however, once a child turns 16 years old, the rules no longer apply.Although the case did make it to the Supreme Court, the justices of the Court ruled only that the father had the right to continue his appeal for custody. The case was then referred back to a lower court, where the boy eventually told a judge he didn't want to live with his father.
Child custody cases can get complicated for Michigan parents when an international component is added. Parents facing complex custody battles may want to seek out the help of an experienced family law attorney. They can help you understand they court proceedings and provided advice on what steps to take.
Source: CNN, "Child at center of high court fight over custody gets closure," Bill Mears, Feb. 14, 2012
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