Southfield High Net Worth Divorce Lawyers Aggressively Protecting Your Assets
Every divorce has its challenges, but high net worth divorces are especially complex. If you are a high net worth individual, the decisions that are made during your divorce can have a significant impact on your financial future. There is far too much on the line to try to handle your divorce on your own—turn to the aggressive high net worth divorce attorneys at American Divorce Association for Men (ADAM) for legal guidance.
For over 30 years, our attorneys have exclusively represented men in family law cases. Our priority is protecting what is important to you. Let us work tirelessly to reach the best possible outcome in your case.
How is Property Divided in A High Net Worth Divorce?
During a divorce, a couple’s assets and debts are classified as either marital or separate properties. In most cases, the court will allow each spouse to retain ownership of their separate property. But marital properties must be equitably divided between the two parties.
Equitable does not always mean equal when it comes to the division of marital properties. The court must ensure that each party is awarded their fair share, regardless of whether that is an equal or unequal share.
Because there is so much at stake, it is imperative to have an aggressive attorney on your team during a high net worth divorce. Our attorneys are committed to protecting your best interests and pursuing a favorable property settlement agreement on your behalf.
What Property Division Issues May Arise in A High Net Worth Divorce?
A number of issues that are unique to high net worth divorces may arise during the division of property, including:
- Locating and identifying the couple’s assets
- Determining how assets should be classified (marital or separate)
- Valuating complex and/or rare assets
- Locating hidden assets
- Dividing substantial retirement and investment assets
- Valuating businesses
- Considering the tax implications of property division decisions
Our lawyers have extensive experience representing men in high net worth divorces, so we have the resources and skills to handle these complex challenges.
Will You Have to Pay Spousal Support?
Spousal support is a contentious issue in many high net worth divorce cases. This is because the spouse with the lower net worth may seek an unreasonable amount of spousal support every month. You and your spouse will have an opportunity to try to reach an agreement on your own outside of the courtroom. But if your spouse is demanding too much spousal support, you may need to take your case to court.
The judge will consider many factors when determining if spousal support should be awarded, and if so, how much. Some of these factors include:
- The length of the marriage
- Each party’s conduct during the marriage
- The income and earning potential of each party
- The property settlement agreement
- Each party’s health and unique needs
- How each party contributed to the marriage
- The standard of living enjoyed by both spouses during the marriage
In many cases, the judge may find that the spouse with the lower net worth has the right to continue enjoying the same quality of life they had during the course of the marriage. This could lead the judge to order you to pay an unreasonable amount of spousal support. This is another reason why you will need our attorneys to defend your rights and ensure you are treated fairly by the court.
How Much Will You Have to Pay in Child Support?
The court usually follows the Michigan Child Support Formula when calculating child support payments. This formula will calculate child support based on several factors, including each parent’s income and the number of children involved.
But the court cannot use this formula if the family’s income greatly exceeds the highest income amount listed in the state’s guidelines. As a result, it is typically up to the judge to determine how to calculate child support payments in high net worth divorces. You will need an attorney who will aggressively fight to ensure you are not ordered to pay an unjust amount of child support.
Call Now For A Free Phone Consultation With Our High Net Worth Divorce Attorneys in Southfield
If you are involved in a high net worth divorce, it’s in your best interest to seek legal representation from the divorce attorneys at ADAM as soon as possible. We have proudly represented men in high net worth divorces since 1988. We know how to overcome the unique challenges and obstacles that may arise in a high net worth divorce case. More importantly, we know how to protect your assets and your financial future throughout divorce proceedings.
Learn more about how we can help during a no-cost consultation with our team. To schedule your free phone consultation, call 248-356-2326 or submit your information using the form on this website.