Cryptocurrencies have been around since the Bitcoin was launched in 2009, and interest and awareness of cryptocurrency holdings have since increased. Cryptocurrencies have also become one of the many different types of assets that divorcing couples in Michigan need to decide how to handle.
The divorce rate in the United States has declined in recent years. However, the divorce rate for those who are 50 and older has increased over the past two decades. One of the possible reasons behind this trend is that there is less stigma surrounding the end of a marriage than in the past. Therefore, older individuals don't feel compelled to stay in relationships that they aren't happy in.
Divorce rates are generally going down. Even so, it's still fairly common for couples in Michigan and other states to untie the knot. In order to get a better idea of why marriages sometimes fail, a study was conducted with divorced individuals who initially participated in a prevention and relationship enhancement program (PREP) before they were wed. The divorced participants were interviewed several years later to find out the reasons why their relationships soured.
Parents in Michigan who are owed back child support might be able to recover payments through state or federal courts. Those who seek to recover via state courts can prepare for court appearances by gathering evidence that they have already attempted to collect outstanding child support from the other parent and that the non-custodial parent has not made child support payments for a significant time period. In cases where the parents were not married when the child was conceived or born, the court may require evidence that the father was made aware of his paternity.
Those who are planning on getting married in Michigan and elsewhere will ideally have a financial talk prior to doing so. This can help them identify and potentially rectify monetary problems before they negatively impact a marriage. It can also ensure that both partners are on the same page when it comes to how to handle their money. The conversation should include everything from each person's credit score to the amount and type of debt that they have.
One thing that parents in Michigan should keep in mind as they are negotiating child custody agreements is how their custody arrangement will affect taxes. One of the issues is who will be as head of household.
It's well known that money can be a major source of marital problems for couples in Michigan. Financial stresses and differences over spending and saving practices can lead to serious arguments and even divorce. A survey of 2,000 adults by SunTrust Bank indicated that money was the leading cause of stress in a personal or romantic relationship. However, while financial stress may weigh most heavily on lower-income couples, studies show that divorce is actually more common among wealthier families.
Divorce is on the rise among older Americans in Grand Rapids and across the country. While the rate of divorce for younger Americans and the population, on the whole, has been on the decline or remained steady, the opposite has held true for people age 50 and up. In fact, since 1990, their divorce rate has doubled, and the trend shows no sign of stopping. People who are remarried or who have only been married for a few years are more likely to divorce, as is the case for younger couples as well. However, many "gray divorces" also take place among people who have been married for decades.
In many Michigan child support cases, parentage may need to be established either because it is in doubt or because the father contests paternity. Maternity is typically established via the mother's giving birth to the child. The child support and paternity rules vary from state to state, but generally, paternity is established in one of several ways. If the couple was married at the time of the birth of the child, there is a often a presumption that the husband is the child's father. If the parents are not married at the time the child is born, the father can choose to acknowledge paternity voluntarily.
Many Michigan millennials are struggling under the burden of student loan debt. Overall, only 22 percent of people of their generation are free of debt, and student loans are a major factor in that statistic. Student loan borrowers owe an average of $34,144, and that number is only growing for future generations. In the past 10 years, the percentage of borrowers owing $50,000 or more has tripled. This means that student loan debt and repayment is a major factor in how people handle their money and make decisions about the future.