Rather than negotiating assets, couples are now negotiating debts. Family Law attorneys offer advice to couples considering divorce.
Online PR News – 14-March-2009 – – Bloomfield Hills, MI – Gornbein Smith Peskin-Shepherd PLLC, a Michigan law firm specializing in family law cases, provides advice to families that have put off divorce due to challenges presented by the economy.
"A lot of people are waiting on divorces because things are so bad. The filings are way down," said Henry Gornbein, a Bloomfield Hills family law attorney.
"We've got houses with negative equity. Everybody is miserable ... I have people who file, then realize they can't do it economically unless they're still living together.”
When a couple does decide to divorce, Gornbein now has to be very creative with mediations and arbitrations. Rather than negotiating assets, couples are now negotiating debts – from mortgages to credit cards.
“Two, three years ago, I'd be telling you that houses had equity, and you'd either be doing a buying out or selling the house and splitting whatever the proceeds were. Now it's the reverse. You go into court; the judges just don't know what to do," says Gornbein.
Gornbein suggests that couples sit down and go through his checklist of matters that will eventually come up in divorce negotiations. Items like COBRA or medical insurance, property division, income taxes, attorney fees, 401ks, and the handling of debts are issues that are hard to deal with in any divorce proceeding, but in an economy where it’s likely that lay-offs and tougher credit are normal, these issues are made even bigger.
About Gornbein Smith Peskin-Shepherd PLLC
The attorneys of Gornbein Smith Peskin-Shepherd are dedicated to the humane, dignified resolution to Family Law issues. Each partner and attorney with the family law practice believes that each family legal matter comes with a unique set of circumstances and requires customized professional legal representation. For more information about Henry Gornbein, Gornbein Smith Peskin-Shepherd PLLC, or to receive a free consultation regarding divorce or other family law issues, please visit the Family Law of Michigan website at http://www.familylawofmichigan.com.