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Oakland County Law Blog

The challenges of dividing business interests in divorce

Every divorce has its own challenges. Some of them are personal and emotional, like child custody and visitation, and other issues are more financial.

One of the most challenging of the financial issues in a divorce occurs when one or both of the spouses has ownership interests in a business. Whether sole ownership or some kind of partnership is involved, it can be extremely difficult to split a business interest in divorce.

Hiding Marital Assets in Divorce

One of the key issues in every divorce is dividing the assets. Behind only the custody and visitation of the children, how the money is divided is often the most pressing concern for most divorcing couples. Asset division is a common part of the divorce process in which each spouse is required to disclose all assets, income and debts to the court.

However, it is not uncommon for a spouse to use creative methods to hide various assets. If there are assets that the court cannot see, these assets will not be split, so hiding assets can be extremely lucrative.

Who gets the dog? Divorcing couples battle over the family pet.

 

As Americans, we love our dogs (and cats, of course). Many married couples opt for a pet rather than having children because they’re cheaper and less demanding. Further, many couples see no difference between the affection for their pets and the love parents have for their children.

When Divorce Extends Beyond International Borders

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Divorce is never simple. Even divorce and family law cases where both parties agree on what the outcome should be require poring through complex legal documents and processes. 

What happens when the parties in a divorce or custody battle don't agree? What if they not only don't agree but also don't share the same state or country of residence? 

That's where an experienced international divorce and family law attorney can make all the difference in the outcome. 

Sign The Prenup and You're Done? Not So Fast...

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We've written about prenuptial agreements before and we think they are a good idea for couples who plan to tie the knot. While no one wants to think about their marriage ending in divorce, think of it as divorce insurance. After all, no one wants to die but that doesn't make life insurance any less of a good idea. 

But, like any legal contract or insurance policy, it is important to make sure a prenuptial agreement covers all the bases before putting ink to paper. A recent Michigan Court of Appeals decision highlights just how important it is. 

How To Handle A Dispute With A Business Partner

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Partnerships can fail for a multitude of reasons. Perhaps the partners did not have a strong business plan and cannot agree on how to run the business. One of the most important reasons for failure, from a legal standpoint, is that the partners failed to have a written partnership agreement in place.

Military Divorces Just Got Harder

The following is a re-post of a letter sent to members of the Family Law Listserve by Col. Mark E. Sullivan, author of the "Military Divorce Handbook."
It outlines a major change in a federal law that will impact property division in every divorce cause involving a member of the military. 

Dear Colleagues, 

On December 23, 2016, the President signed the National Defense Authorization Act for Fiscal Year 2017. Hidden away in the Act is a little known provision that applies to division of military retired pay when the military member is still serving. 

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