There are of course lots of reasons why Michigan divorces involving significant assets are comparatively complex.
But it all starts with the simple reality surrounding wealth, doesn’t it? When splitting spouses are mutually focused on divorce-linked property division, that exercise becomes progressively complicated with each upward tick in marital wealth.
And there’s this, too: It’s not just about attaching a fair value to every asset in question. Many high-asset decouplings must centrally focus upon myriad other property-tied questions and concerns as well. Simply identifying and properly categorizing divisible marital assets is a challenge in many instances. So too is assessing the value of something like spousal contributions to a family business.
In fact, the sheer complexity often attached to high-asset divorce and attendant property division can seem almost overwhelming to an impending former spouse. And that can be equally true for retained legal counsel lacking significant experience in high-net-worth divorce representation.
Many issues in addition to the above-cited asset identification/valuation frequently pose challenges for divorcing spouses that must be addressed. They often include matters such as these:
- Resolution of high-income child support considerations
- Agreement concerning spousal maintenance (alimony)
- Judicial determination of what comprises divisible marital assets as opposed to one spouse’s separate property
- Tracking of marital wealth that one spouse might be unlawfully seeking to hide
A proven family law legal team with a demonstrated record of client advocacy in high-asset divorce matters will always focus closely on such matters and other relevant concerns. And its dedicated lawyers will align with other professionals (such as accountants and appraisers) when doing to will promote a client’s best interests.