No matter the circumstances, divorce can be difficult. However, Auburn Hills divorces involving high-value assets and estates are particularly challenging for numerous reasons, ranging from the size of the estate and the nature of assets to property division considerations and tax implications. If you are considering a divorce involving high-value assets, you need an accomplished and experienced attorney who can represent your interests and ensure a fair and equitable divorce proceeding.
The attorneys at Eisenberg & Spilman, PLLC, have decades of collective experience negotiating high-asset divorces and can represent your interests to achieve a positive resolution to your divorce proceedings High-value asset divorces often raise tensions, and emotions can boil over, it is important to retain a highly skilled and experienced attorney who can negotiate your divorce from a position of strength.
Contact us today to speak to a high-asset divorce attorney serving Auburn Hills.
Many high-asset divorces are contested in Auburn Hills, which can create an extremely stressful experience. Even when divorce is amicable, the legal structure of high-value estates is complex and challenging to untangle.
Michigan is an equitable division property estate, so marital assets are not simply divided 50/50 between spouses upon divorce. Instead, marital assets are divided according to a fair and equitable distribution. The terms ‘fair and equitable’ are not explicitly defined but decided on a case-by-case basis. Although courts might generally favor more equal splits, several factors can affect the distribution of assets, such as:
An attorney can argue forcefully and persuasively for an equitable share of the marital assets and pursue a reasonable and agreeable outcome for both sides. They can also assist with other legal aspects of high-asset divorces in Auburn Hills, such as negotiating child support and spousal support payment arrangements.
Given the nature of high-asset divorces, they present several unique issues that may not be relevant in other types of divorce. Some of the main complications in high-asset divorces in Auburn Hills can include:
Identifying Assets
High-value estates may have a diverse range of assets, making it challenging to accurately identify everything that needs consideration. In some cases, one party might try to hide assets from another to shield them from proceedings. Asset identification is significantly more complex if spouses have mixed marital and non-marital assets, as is often the case in wealthy estates.
Valuing Assets
Certain types of assets, such as business interest, vehicles, and art, might be intrinsically difficult to place a value on. Appraising the value of atypical assets is a key aspect of ensuring fair divorce proceedings with high-value estates. Having an attorney who is knowledgeable in the valuation of these assets is absolutely vital.
Allocating Debt
High-value estates may also have large amounts of debt. Debt taken on during marriage is usually considered the responsibility of both spouses, while personal debts from before marriage remain separate. Various factors can affect how courts allocate debt after a divorce.
Tax Implications
Many high-net-worth families structure their estates to benefit from tax advantages. Divorce and the division assets have a significant effect on taxation and may require each spouse to reevaluate their finances.
International Assets
Many high-value estates have holdings in foreign countries that may not be subject to US laws and regulations. These international assets might carry additional property division or tax implications.
Child/Spousal Support
High net-worth individuals are accustomed to a specific standard of life and childcare. Part of negotiating divorce in high-asset cases is creating payment arrangements so spouses and children can maintain their current quality of life.
Prenuptial Agreements
A prenuptial agreement might be in place when one or both spouses have a high net worth. While prenups are legally valid, they are not absolute, and Michigan courts may not enforce prenuptial agreements that are not fair or not signed under appropriate circumstances.
High net-worth families have diverse estates comprising a broad range of asset classes. Some of the most important types of assets to account for in high-asset divorce include:
Tracking and identifying high-value assets may require a substantial amount of investigative work. To that end, our firm is comfortable working with relevant experts to offer the skills and knowledge as testimony.
We are meticulous in our approach and will examine your case from every angle to provide the most comprehensive account of divorce assets.
A high-asset divorce can be a lengthy process and may require several court hearings, mediation, and arbitration sessions. Without the appropriate knowledge of Michigan’s divorce laws and the legal structure of marital assets, it will be extraordinarily difficult to ensure you will receive a fair and acceptable outcome.
The attorneys at Eisenberg & Spilman, PLLC, dedicate themselves to helping Michigan residents embroiled in high-asset divorces. We understand that every case is unique and rely on a personalized approach that meets clients where they are. You can count on us to effectively and efficiently handle every legal issue concerning your divorce. More specifically, our attorneys can:
We are confident in our ability to navigate clients through divorce proceedings to eliminate uncertainty and pursue a fair outcome for all parties involved. Call our office today for a case consultation with a high-value asset divorce attorney serving Auburn Hills. We can review the details of your divorce, suggest options that would advance your position, and advise you on what to do next.