As complicated as financial matters are in divorce, they are that much more complex in a high-asset divorce. The outcome of the financial aspects of your divorce will have a significant impact on your future. At Eisenberg & Spilman, PLLC, we are here to handle property division, spousal support and other financial issues with the utmost care and attention to detail. Based in Birmingham, we are the family law firm people in Oakland County and throughout surrounding areas turn to when the stakes are high and the issues complex.
Our high net worth clients have concerns about the division of marital property in divorce. We recognize what is at stake, and we can help you protect your assets and vigorously defend your rights in your property division involving assets such as:
We are highly knowledgeable in Michigan property division laws and will fight for what is fair and equitable. We will work with you personally to gain an understanding of your priorities so that we can apply pressure where it is needed, not fight needlessly over items that are of no real consequence to you.
When you face a high-asset divorce, several complex factors come into play. Understanding these can help you navigate the process with more clarity. Here’s a look at the key considerations:
Each of these factors requires careful analysis to protect your financial interests. The guidance of a knowledgeable attorney becomes essential in managing these complexities effectively.
When appropriate, we enlist the services of forensic accountants, business valuation experts, private investigators and other professionals who help us obtain facts and give us insights into our clients’ cases. With a full understanding of the facts, we are prepared to negotiate strongly on your behalf or, if necessary, aggressively advocate for you in court.
A high-asset divorce involves at least one spouse who has over one million dollars in assets or a high gross annual income. These assets may include 401(k)s, stocks, real estate investments, fine art, jewelry or businesses. Because of the vastness of the estate, the asset division process is often much more complicated. Our lawyers at Eisenberg & Spilman, PLLC, can assess the estate to help ensure assets are divided fairly.
When navigating a high-asset divorce, accurately evaluating different types of assets is paramount. Accurate valuation is key to determining how to distribute assets fairly. It also helps both parties maintain financial stability post-divorce.
Valuing real estate involves appraising properties based on current market conditions, location and future market projections. Appraisers consider recent sales of comparable properties, potential rental income, and any improvements or issues with the property. This comprehensive evaluation provides a fair market value, which is crucial for equitable division in a divorce.
Businesses are typically more complex to value. The process includes analyzing financial statements, reviewing market conditions, and considering the business’s earning potential. Additionally, evaluators may look at intangible assets like brand reputation and customer loyalty. The goal is to determine a fair market value that reflects both the business’s current financial health and its future earnings potential.
Investments such as stocks, bonds and other securities require a different approach. The value is often determined by the market conditions at the time of the divorce. For more complex investments, like private equity or venture capital, the evaluation also considers future growth prospects, market trends, and the performance of similar investments.
In a high-asset divorce, each type of asset requires a unique valuation approach. Understanding these methods can help ensure that all assets are fairly assessed and divided.
There are many issues that make a high-asset divorce so complex. For starters, the size of the estate can often make it hard to determine the worth of assets so there is a fair divide between spouses. Certain factors may also need to be considered when dividing a high-asset estate in a divorce, such as alimony, child support and business ownership. One challenge that a client may face is when it is suspected that a spouse has hidden assets.
When approaching divorce, you should understand Michigan divorce laws to protect your rights. Our lawyers can educate you on your rights and guide you through important decisions so that you recover the most from your divorce.
Every high-asset divorce is unique. Certain divorce matters can increase the cost of a high-asset divorce, such as child custody and alimony. Without legal representation, a divorce could cost you more just by the assets you do not recover. You can speak with one of our divorce lawyers to discuss the details of your case and learn about our rates.
Handling a high-asset divorce without a lawyer could cost you greatly. You may receive far fewer assets if you represent yourself rather than seek help from an experienced attorney. Our divorce lawyers understand the complexities of high-asset divorces. We can help you with important legal paperwork, discuss the tax implications of various strategies and develop child support and alimony arrangements.
Our clients’ needs are our top priority at Eisenberg & Spilman, PLLC. Because every client brings a unique set of legal issues to us, we never take a cookie-cutter approach. You can expect tailored solutions based on your needs and goals.
To schedule a confidential consultation with one of our experienced and caring attorneys, call us in Birmingham at 248-358-8880. You can also submit an online contact form. If you cannot meet during standard business hours, we have nighttime and weekend appointments available upon request.