Ending a marriage can be a life-changing experience for anyone in Michigan. Women, in particular, sometimes find financial matters especially burdensome after untying the knot. For this reason, divorcing women are often encouraged to get their investment portfolio and financial situation in order before officially filing for a divorce.
Family court judges in Michigan are given broad discretion when it comes to making child support or spousal support determinations. Typically, the court will consider any compensation or earned income as well as passive income. Passive income might include income from investments or other things. The court may also look at a spouse's salary, bonuses, carried interest, deferred compensation, retirement contributions, employment perks or partnerships distributions.
Michigan law states that marital property should be divided equitably but not necessarily equally in divorce cases. However, what is and is not equitable is often a matter of contentious debate. While states with community property laws require an equal division of marital estates regardless of whether spouses worked, how much they earned or how long they were married, the equitable distribution laws in states like Michigan sometimes leave divorcing mothers who eschewed careers to raise children at a disadvantage.