Oakland County High Asset Divorce Lawyers

Oakland County High Asset Divorce Lawyers

Statistically, on average, 14 out of every 1000 marriages will end in divorce. A divorce can often be a traumatizing and emotional time in a person’s life. Should the couple getting divorced be involved in a high asset divorce, it makes the process even more complicated. That’s why it’s imperative to hire an attorney that you can trust to assist you, as with most high asset divorces, there is much to gain and to lose. 

However, with the assistance of a qualified Oakland County high asset divorce lawyer, you can resolve your complex case without any problems. Every high asset divorce case is unique with its own range of challenges and complexities. Aim to be as aware of the issues that could arise so that you and your lawyer can gain you the settlement you deserve. 

3 Common Issues Surrounding High Asset Divorces

Amongst the common issues surrounding high asset divorce cases, there are three common issues that stand out. We will look closely at the issues you could face so that you are aware and know what to look out for. 

Valuing Marital Assets

The number one issue that many married couples face in high asset divorce cases is the valuation of marital assets. It’s often a complex process as some assets like investments and retirement funds are easily valued while stocks, future earnings, and family heirlooms are harder to value. 

Marital Property Division

The property division laws in high asset divorces vary from state to state, but in Michigan, when dividing marital property, the concept of equitable distribution is utilized. When the splitting of properties is examined, several factors will be considered. 

For example, how long the entirety of a marriage lasted, the divorcing couple’s needs and that of their children, and each spouse’s overall earning power. Depending on the answers to these questions, it will be decided who is awarded what property. 

Locating Hidden Assets

In many high asset divorce cases, spouses have the tendency to try to hide certain assets. Often these assets will be hidden in offshore accounts or transferred to a temporary conservator. This practice is technically illegal, but it is, unfortunately, a common practice. 

Some of the Different Factors Associated With Dividing Assets in Oakland County High Asset Divorces

When divorce settlements are underway, several factors should be considered. In most instances, the following factors should guide divorcing couples when the time comes for negotiations. 

  • The contributions of each spouse to their marital estate.
  • The ages and health status of each of the spouses. 
  • How long the marriage lasted.
  • How each of the spouses behaved during the marriage.
  • The financial needs of each spouse once the marriage has ended. 

Get In Touch With a High Asset Oakland County Divorce Lawyer Today To Discuss Your High Asset Divorce Case

A qualified Oakland County lawyer can guide you and assist you during your complex divorce. At the Michigan Law Offices of Robbins & Licavoli, we strive to always help our clients to the best of our abilities. High asset divorce lawsuits can place colossal emotional pressure upon you and have you worried about financial stability. Think about contacting us today so that we can be of assistance during your high asset divorce and help you reach a favorable settlement. 

Get in Touch with Robbins & Licavoli