Eisenberg, Middleditch & Spilman, PLLC
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high asset divorce Archives

Do you know the consequences of hiding assets?

Divorce is one situation in Metro Detroit where some spouses hide assets to cheat their partners out of their share of the marital property. Many of them are not aware of how risky this type of behavior is. They may have motivation to hide information about assets and finances because of a sense of entitlement and negative feelings where they want to punish their partners. No matter their reasons for doing so, the temptation to keep more of the marital pot for themselves may be too much for them to ignore. 

Divorce of high net worth couples need not be costly

For high-earning couples, or those with significant assets, ending a marriage can be a costly process. However, as for any divorce in Michigan, with proper planning and professional guidance, even a high net worth divorce can be navigated without breaking the bank. In most cases, if one spouse accumulated substantial assets before the wedding, there will likely be a prenuptial agreement. However, dividing property that the couple gathered during the marriage could be more challenging.

3 problems that lead divorcing couples to mediation

Mediation is gaining ground over traditional divorce, and there are three main reasons. First, the cost of working out the divorce settlement can be extremely high. Second, settlements often do not last, and third, a bitter divorce takes a toll on the parties in terms of emotional trauma.

Buyout plans may interest business owners going through divorce

Individuals who have started companies that have seen success over the years may have earned a considerable amount of money. Because hard work and dedication often contribute to this achievement, many Michigan business owners feel reluctant to part ways with much -- if any -- of their stake in the company. However, some parties may find it more difficult to retain full ownership if they go through divorce.

Prenup can offer protection during divorce

Before getting married, couples typically feel that their love will last forever. However, the reality is that divorce can happen to any couple. For this reason, drafting prenuptial agreements has received an increasing amount of attention in Michigan and elsewhere in recent years.

How can divorce affect my tax situation?

Whether you herald the end of your marriage or dread it like the plague, there is no way for you to avoid the changes and multitude of decisions that you will need to make. You may become so focused on your living situation in Michigan and your kids' well-being that you fail to consider one major issue that can affect you long after your divorce is finalized: your tax situation. 

Many times, it is the perfect couple that is heading for divorce

On the surface, they appear to have it all. The Michigan couple has money in the bank, a nice home, new cars and the ability to travel. They seem like the perfect couple. However, looks can be deceiving and the couple that others envy may actually be heading for divorce.

Find out if your spouse is hiding assets

While virtually every divorce comes with some amount of contention and complexities, if you and your spouse have high-value assets, the complications might be exacerbated. Divorces that involve complex assets have unique challenges that you should understand and anticipate. One such challenge is the possibility of your spouse hiding assets to prevent them from being fairly divided. Learn the warning signs of hidden assets and how to use legal tools to find them.

Dividing a business in a Michigan divorce

Dividing property in a divorce can be complicated and contentious even when complex assets are not involved. However, divorcing spouses who own a business often face even more questions when it comes to how to properly divide property in divorce. Here are some things to keep in mind when it comes for how to proceed: 

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