Some people who get married after having written a will sometimes forget to change their wills to account for the new spouse. In other cases, a person may simply leave his or her spouse out of the will for various reasons, intending to disinherit the spouse. Fortunately, under Michigan law, the new spouse and the… [Continue Reading]
Using a Domestic Asset Protection Trust
Asset protection in the context of marriage is usually done through the use of a prenuptial and sometimes postnuptial agreement. However, this is not the only way to protect a person’s assets from being divided in a divorce. People with significant personal wealth who do not wish to use a traditional prenuptial agreement can use… [Continue Reading]
Divorce and Bankruptcy: A Perfect Storm
Divorce and bankruptcy are two areas of the law that can often overlap, affecting each other in many ways. Depending on which Chapter of the bankruptcy code a debtor files for relief may affect obligations granted in a divorce decree or settlement. When a person files for bankruptcy, “automatic stay” provisions come into play and… [Continue Reading]
