In a recent Time magazine article about the challenges of divorce in the worsening economy, Family Law of Michigan attorney Henry Gornbein was interviewed to share his expertise. Henry related his experience and observations of the differences in divorces given the current financial climate.
“We’re negotiating debts–not assets,” says Henry Gornbein, a family-law attorney in Oakland County, Mich. “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.