Ann Arbor High-Asset Divorce Lawyer

High-Asset Divorce Attorney in Ann Arbor, MI

A high-asset divorce requires a law firm with the knowledge and resources to take on the tough issues. Wealthy individuals often face challenges and legal questions in divorce that simply never come up in lower-income cases. From protecting the family business to valuing digital assets, you want to work confidently with a high-asset divorce attorney who does not back down from complicated family finance situations.

High-Net-Worth Divorce Looks Different

Divorce may always involve the dissolution of a marriage and address the custody of the couple’s minor children, but when the divorce involves a high-net-worth marital estate, those issues may take on a different character. High-net-worth divorce often requires a clear understanding of the family’s full financial picture, going beyond each spouse’s salary and income. Your high-asset divorce attorney needs to be ready to take those issues on and fully advocate for a fair and equitable outcome in your case. Your high-net-worth divorce could include:

Enforcing Prenuptial Agreements

High-net-worth individuals are more likely than others to have signed a prenuptial agreement prior to their marriage. These contracts are designed to shield pre-marital assets and reduce the cost of litigation during divorce. Knowing how strong or weak your prenuptial agreement may be can streamline otherwise costly, arduous litigation: an experienced high-asset divorce lawyer can give you appropriate guidance.

Identifying Separate Property Assets

Your wealth may not come entirely from the work you did during the marriage. If you owned or inherited a business, home, or other assets prior to marriage this “separate property” can potentially be awarded to you in whole or in part off the top. The same is true for inherited funds received during the marriage. However, Michigan law allows a non-owner spouse to “invade” those separate properties and claim a portion of the assets if:

• The property was mixed (“commingled”) with marital assets
• They contributed to the asset’s growth during the marriage
• Their share of the marital estate is not sufficient to meet their needs

High-asset divorce often hinges on defining those separate property assets and seeking or defending against “invasion” claims.

Protecting Business Interests

Many high-asset divorces involve shares in business assets owned by one or both spouses during the marriage. Placing a value on those business assets can be challenging, and often requires the aid of an expert business valuator. Depending on the structure of your company and its operating documents, a property award transferring partial ownership to your spouse may cause you to lose control in your company, or even cause the business to close entirely. Your high-asset divorce attorney can help you establish the value of your business and advocate for a property division that protects your business interests.

Discovering Hidden Assets

The larger your financial profile becomes the easier it is for certain assets to go unnoticed. But a qualified lawyer knows how to read a complicated tax return to figure out what to request from the other side. And Michigan law empowers high asset divorce lawyers to use discovery to uncover those assets and show the court the full financial picture if that becomes necessary due to lack of cooperation.

Having a lawyer who knows what to ask and look for protects you against a spouse seeking to hide assets or dissipate wealth to avoid giving it to you in the divorce. If you are worried your spouse is moving or trying to conceal money, you need a high-asset divorce lawyer with experience to use these tools to protect your interests.

High-Income Issues in Child Support and Spousal Support

Often, when one spouse has a high income, the family may decide that it is enough to support the whole household. When their marriage ends in divorce, on the one hand, it can leave the stay-at-home spouse to pick up the pieces and struggle to provide for themself and their children. On the other hand, a high annual income can translate into high child support and spousal support awards against the high-income parent that are more than anyone needs.

While the parties’ prior standard of living is a factor to be considered in awarding spousal support (sometimes called alimony), the Michigan Child Support Formula recognizes that extremely high income circumstances require practicality as well as fairness. You need an attorney who can help account for all the family’s sources of income and can advocate for a support award that is fair and reasonable.

Get the Help of a Ann Arbor High-Asset Divorce Attorney You Can Trust

The high-asset divorce lawyers at Nichols, Sacks, Slank, Sendelbach, Buiteweg & Solomon have handled hundreds of divorces since the firm was founded in 1994, and have a support structure in place to take on the highly complex issues that come along with a high-asset divorce. We will work with you to identify all your assets, income sources, and debts or financial obligations, to build a complete picture of your family’s financial situation.

Once we have that picture, we will work with you to identify your top priorities, and help you understand how the law applies to your assets, income, and interests. Call 724-994-3000 to schedule a consultation with one of our experienced Michigan divorce attorneys to discuss your financial situation and how any domestic agreement could affect them.