Ending a marriage is always difficult, but certain aspects can be further complicated when one or both spouses have considerable assets that need to be divided. At Howard E. Gurwin, P.C. in Farmington Hills, we represent wealthy clients who are going through a divorce. Our firm works to help you reach the best possible outcome to matters involving child support obligations, property division and spousal support. With more than 40 years of experience, we pursue creative and strategic solutions for all clients going through divorce.
Each spouse in a Michigan divorce is entitled to an equitable share of marital assets, with the circumstances of each marriage determining what is fair for the couple. This will not always mean an equal 50/50 split. A court considers several factors prior to deciding how much of the marital estate should be awarded to each spouse, including the length of the marriage, each spouse’s financial and homemaking contributions to the marriage and the separate assets of each spouse.
Some assets typically divided in a high-net-worth divorce are:
Full financial disclosure is absolutely necessary to obtain a true equitable division of assets. Unfortunately, with so much to lose, it’s possible that a spouse could try to hide assets from their ex in the hopes of keeping a larger share of the marital estate for themselves or to avoid making large alimony or spousal support payments.
Our firm searches meticulously for hidden assets. We question suspicious valuations and consult with private investigators, forensic accountants, independent appraisers and other experts familiar with wealth concealment tactics. Our goal is to help you achieve a settlement or court order that does not leave you with an unmanageable child or spousal support obligation and provides your full, fair share of marital property.
Wealthy couples with children face different issues during divorce than couples with less substantial marital estates. When determining an appropriate amount of child support to cover the basic needs of a child of high-earning parents, a court may consider the costs of the child’s private education, extracurricular activities, caregivers and other expenses.
Parents who have a combined income that is in the upper limits of Michigan’s General Support Tables may find that the General Care Equation provides an excessive value of child support. If combined parental income exceeds the top value listed in the General Support Tables, a court can use its discretion to decide how much the noncustodial parent should pay to the custodial parent. Our firm can work to negotiate a settlement that benefits you while also prioritizing the best interests of your child.
At the Farmington Hills office of Howard E. Gurwin, P.C., we advise and represent wealthy divorcing spouses in Oakland County and throughout Metro Detroit. To schedule your free initial consultation with us, call 248-352-2727 or contact us online.