Dissolving a marriage can be an extremely stressful yet delicate process, especially for individuals who are of considerable wealth. Entering this process with complex assets, such as trusts or investments, can make the situation significantly more difficult. When facing a high asset divorce in Michigan, individuals often seek assistance from an attorney with experience in handling such intricate matters.
These difficulties can increase for individuals that have entered into a second marriage with children from their first. The parent typically considers the future of these children to be of the utmost importance. If he or she has set up a trust for the kids, the invested amount may be untouchable in the event of a future divorce. If this person also has a trust, he or she may also retain possession, provided it was not mixed with marital assets in any manner.
Many individuals consider complete understanding and awareness of financial standings to be beneficial to the outcome of a divorce. Complex assets such as businesses and investments often require a great deal of consideration, and preparing a plan for negotiations ahead of time is often advisable. Individuals who enter negotiations with an understanding of the value of assets are often in a better position to obtain a fair and equitable portion during divorce proceedings.
With a myriad of key aspects to consider for an individual who has a lot on the line, this process can begin to feel somewhat overwhelming. Those who are facing the end of a marriage often choose to speak with a family law attorney for guidance and advice. A high asset divorce attorney in Michigan can assist a client in pursuing the most favorable outcome possible with regard to his or her financial future.
Source: kiplinger.com, “Strategically Thinking About Divorce“, Andrew Bass, Accessed on April 22, 2017