In the context of a high-asset divorce, asset dissipation occurs when one spouse deliberately reduces the value of the marital estate to prevent the other from receiving a fair share during the divorce. This behavior can involve reckless spending, hiding money, or...
Bloomfield Hills Michigan Family Law Blog
3 things to know when dividing luxury assets
High-asset divorces can be complex, particularly when dividing luxury assets. Couples going through a divorce often face unique challenges when splitting high-value items like yachts, expensive art, and jewelry. Understanding these complexities can make the process...
Your marital home matters in high-stakes decisions
The marital home is typically the primary residence where the couple lived during their marriage. As a marital property, it is subject to division when they divorce. The definition of a marital home can become complicated in cases with multiple properties, mainly...
How does age affect property division in divorce?
Divorce is rarely straightforward, and dividing marital property can add another layer of complexity. Michigan follows equitable distribution, meaning a fair split rather than a strict 50/50 division. Interestingly, age can influence how the property gets divided....
Can school struggles justify updating custody and parenting time?
When a child has trouble in school, parents naturally worry. It could be that their grades are slipping or they are facing behavioral issues. You might wonder if this can call for a modification to your existing custody and parenting time agreement. The answer is yes;...
Why your divorce might need a forensic accountant
Going through a divorce is one of life’s most challenging experiences. It involves deep emotional strains and significant financial implications that can have profound effects on your life. This process can get even more complicated when it involves significant...
Communicating with your spouse during a high-asset divorce
Divorce is never easy, especially when high assets are involved. It can be a challenging and emotional time for both parties, and effective communication is key to navigating the process successfully. When going through a high-asset divorce, it is important to focus...
How can the spouses’ behavior during the marriage affect alimony?
In Michigan, the conduct of the parties during marriage can significantly affect alimony decisions. Alimony, also known as spousal support, is financial assistance provided by one spouse to the other after a divorce. The purpose is to help the lower-earning spouse...
Child custody challenges in high-asset divorces
When couples with significant assets divorce, child custody is one of the hardest things to work out. High-asset divorces are tricky because of large financial resources and high standards of living. Finding a solution that works best for the children involves...
The impact of relocation on child custody arrangements
When a parent moves away, it can seriously disrupt agreed-upon custody arrangements. This can cause all sorts of problems. If you have gone through a divorce and have children, it is important to understand the potential impacts of relocation on your child custody...