high asset divorce Archives

What should I know about prenuptial agreements?

If you’re like most couples in Michigan, you don’t go into a marriage planning for a divorce to happen. Unfortunately, divorce is a sad fact of life for many married people, which is why implementing a prenuptial agreement is so important. If you and your spouse-to-be are on the fence when it comes to pre-nups, Bankrate offers the following advice.

What to do when you suspect your spouse is hiding assets

If you are heading for a divorce in Michigan, you and your spouse may already have trust issues. When a marriage includes businesses, collectibles, property and financial accounts, it is not unusual for the spouse with the highest net worth to hide assets, exacerbating the mistrust. They are often the party that takes care of the finances as well. At Vandervoort, Christ & Fisher, P.C., our experienced team of attorneys has the expertise and resources to help ensure clients receive an equitable settlement.

What happens if I have a secret account?

When you plan to divorce in Michigan, you may think about opening a secret account to stash away some money that your spouse cannot touch. While this sounds like a good idea and a good way to safeguard against being left with no money if your spouse decides to empty the bank accounts, it can end up a huge mistake.

How can I protect my business during a divorce?

Your business could be at risk if you wind up getting divorced. For instance, you may be required to split earnings with your ex, or you might even lose full control of your business if your former spouse is able to claim part ownership. Inc. offers the following information to business owners in Michigan to ensure their most valuable assets remains protected.

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. 

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