high asset divorce Archives

Can I avoid media coverage of my divorce?

When you or your spouse is a high-profile person, it can make the divorce process even more difficult. You may have to be concerned with more than just the divorce. The media often wants to get involved and report on everything they can find. This can cause tension and stress on top of what you are already experiencing.

Understanding different business valuation methods

Many in Battle Creek might wonder why they are expected to divide a portion of their personal business assets with their soon-to-be ex-spouses (especially if he or she already owned the business prior to the marriage). In many cases, such holding would be considered separate property. However, according to Section 552.401 of Michigan's Compiled Laws, a non-owner spouse may entitled to a portion of the other's separate property if he or she contributed to its acquisition, improvement or accumulation. 

High-profile divorce and negative attention

Whenever someone splits up with their spouse, there may be a number of challenges they have to work through. However, the end of a marriage can be particularly difficult for high-profile couples who may live life in the public eye. From gossip columns and TV reports to social media posts, the digital era has brought even more ways for information to spread quicker and make daily life miserable for some people. Whether you are already struggling with negative attention or plan on splitting up with your spouse soon and expect that this issue will arise, it is important to be fully prepared.

Is your spouse concealing assets?

If you have recently experienced a breakdown within your Michigan marriage, you may have suspicions about your spouse being less than honest with you. If, for example, you worry your spouse is being untruthful with you when it comes to money, it can have a serious impact on your ability to get a fair shake during divorce.

Determining fair market value of collections during divorce

Many spouses may think they know best when it comes to the value of their personal collections during a Michigan divorce. However, using online research or a guesstimate figure could skew the divorce settlement considerably in one spouse's favor.

Get the whole financial picture during a divorce

High-asset divorce in Michigan is rarely simple, but there are certain things that we find complicate the process unnecessarily. After all, you do not want to take a bad situation and make it even worse. At Vandervoort, Christ & Fisher, P.C., we find that the best approach is to strike a balance between representing our clients' individual interests and completing the process as soon as possible. 

Dividing a 401k equally

For those in Battle Creek that are preparing for divorce proceedings, among the most pressing issues they must deal with is comprehending which of their assets will be subject to property division. Typically, one of the more valuable assets that divorcing couples share are the funds available through retirement savings accounts (such as a 401k). Some might question the use of the word "share" in this context given that most view a 401k as an individual asset one earns through his or her employment. Yet any assets accrued into a 401k during a marriage are indeed considered to be marital property

What else can I do to protect myself in our high-asset divorce?

Yes, there is much more. In addition to the considerations in Part 1, it may be that the more organized and documentary you can be as early on as possible, the less stressful the process will be and the better off you will land once the divorce is complete.

How do I best protect myself in our high-asset divorce?

When you have significant assets heading into an unfortunate divorce situation in Michigan, you certainly want to make sure you are taking all the right steps to protect your own interests. There are also things you want to avoid doing that can be just as important as what you act on.

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