Howell High-Asset Divorce Lawyers

Get the Legal Insights You Need for Your High-Asset Divorce

A high-asset divorce can threaten to take away what has taken you decades to build.

So whether your high-asset divorce involves complex property division, business valuations, or significant tax implications, you need legal representation that’s courtroom-tested and resource-rich.

The high-asset divorce attorneys at Gentry Nalley understand how to safeguard your hard-earned interests. Let us explain the most important aspects of these complex cases to help ensure your assets, income, and future stay protected.

What Makes a High-Asset Divorce in Michigan?

While any Michigan divorce involves a couple dividing assets, high-asset divorces go much further with this step.

Because these divorces often involve complex financial matters or significant assets, they require specialized legal representation and forensic accounting resources to analyze, establish, and fairly divide everything during a divorce.

High-asset divorces may involve dividing:

• Business ownership or interests
• Pensions or other retirement funds
• Inheritances
• Multiple real estate holdings
• Investments
• Offshore accounts
• Hidden assets
• Fine jewelry, artwork, exotic automobiles
• Executive compensation packages

Gentry Nalley has the resources and experience needed to discover and establish all assets and property during high-asset divorces. For example, we may use tools or third-party financial professionals to assess a unique asset’s full value, or forensic accountants to uncover important financial evidence.

What High-Asset Divorces Require

Unlike other states, Michigan doesn’t divide assets equally during a divorce.

Rather, Michigan directs courts to fairly divide assets during a divorce, which is known as equitable distribution. That means you’re going to need legal help from a law firm that knows how Michigan courts handle high-asset divorces.

This includes legal representation that can handle:

• Complex business valuations
• Tax consequences of asset division
• Hidden assets or income
• Prenuptial and postnuptial agreements
• Retirement plan divisions

With over four decades of combined legal experience, Gentry Nalley’s high-asset divorce attorneys have handled countless cases that required the discovery and evaluation of complex assets. Let us help ensure your high-asset divorce is handled with the skill and insight you deserve.

Michigan Divorces Involving Inheritances

Howell residents often expect to keep an inheritance from a family member for the rest of their lives. However, going through a high-asset divorce may call that expectation into question.

Part of the reason for this is that Michigan is a dual-property state. This means that marital assets are categorized into two types: separate property and marital property.

Separate property
This generally refers to any property owned before a marriage or any property that one spouse receives as an inheritance or gift. This property is not normally subject to division in a divorce.

Marital property
This property is obtained after your marriage up until the date of your divorce. This property is divided by the court during a divorce, except under unique circumstances.

By determining your inheritance’s property category, you will likely know if you can keep it after a divorce. However, categorizing which is separate and marital property is not always straightforward.

That’s because inherited assets may be mixed, or “commingled” with marital assets during your marriage. As a result, these inherited assets may lose their separate property status and become marital property that is subject to division.

For example, a spouse may have inherited money before their marriage, which would normally be separate property. But if it was deposited into a joint bank account, the inherited money would become marital property that can be divided in a divorce.

If there’s a dispute about whether an inheritance is separate or marital property, the court will endeavor to establish the history of an inheritance to show how it was handled. Documentation such as bank records, deeds, or account statements is critical in these situations.

How to Prepare for a High-Asset Divorce

When it comes to protecting your assets and wealth during a high-asset divorce, proper legal preparation is crucial to achieve a good outcome.

Afterall, these assets are divided “fairly” in Michigan, which can be very subjective. Thus, taking the right steps can help ensure you have the legal advantages you need to ensure you receive what rightfully belongs to you.

Our high-asset divorce attorneys recommend taking these steps as early as possible:

Gather financial records
This includes bank statements, tax returns, property deeds, retirement accounts, business records, and insurance policies.

Identify separate property
Document what inheritances you received and when, what separate property you had while entering into the marriage, or what gifts you have kept separate.

Avoid hiding assets
Michigan courts have the power to penalize spouses who conceal property, sometimes awarding the entire hidden asset to the other party. That means you should take steps to ensure you’re fully transparent about all assets, as well as avoiding any practices that would give the impression that you’re attempting to hide anything.

Get professional valuations
Having a verified, third-party valuation for businesses, real estate, stock options, and collectibles help courts make fair and accurate decisions when assessing the full value of assets during your divorce.

Consider tax consequences
Dividing investments, retirement accounts, or businesses without a tax strategy can result in unnecessary losses. So talk to a financial professional first to understand what will be the consequences before reaching the property division step of a divorce.

Get experienced high-asset legal support
High-asset divorces often require the help of attorneys, forensic accountants, financial advisors, and business valuation experts. Gentry Nalley provides all of this and more, ensuring you have the legal resources you need to face any situation.

If you’re facing a divorce that involves an inheritance, let Gentry Nalley put you in control.

Our Howell divorce attorneys understand the best strategies and steps to take if you have an inheritance or a property that you brought to the marriage and want to keep separate from the marital estate.

Additionally, our ample resources can help prove that holdings prior to the marriage should remain yours after the divorce.

How to Choose a High-Asset Divorce Attorney

While many people may have an attorney they’re familiar with, not all divorce attorneys are equipped to handle the complex financial challenges that a high-asset divorce brings.

So when choosing a high-asset divorce attorney in Howell, look for these qualifications:

Experience with high-net-worth cases
Ensure your legal representation has significant experience representing business owners, executives, and professionals.

Financial fluency
Your divorce attorney should understand tax returns, stock plans, and business structures, as well as the many challenges they present during a high-asset divorce.

Access to experts
Forensic accountants, appraisers, and financial planners are essential in these cases. Confirm that your attorney has relationships with all of these professionals to provide quick access to these resources while handling your case.

Strategic negotiation skills
Since Michigan doesn’t divide assets 50-50 during a divorce, it’s essential that your legal representation knows how to negotiate with strength and not just settle. This will help ensure you receive what you deserve.

The high-asset divorce attorneys at Gentry Nalley bring all of the above qualifications to your case and much more. Let us harness our decades of experience in high-stakes divorce for you as we work alongside top financial professionals to ensure nothing is overlooked.

Howell High-Asset Divorce Attorneys Who Fight for You

Divorce is never easy. But when you or your spouse have significant assets, the stakes are even higher. That means you deserve more than just a divorce lawyer.

That’s why Gentry Nalley has assembled a dedicated legal team of attorneys, paralegals, and other professionals who fully understand both Michigan law and the complexity of high-asset cases.

For decades, our high-asset attorneys have been trusted by executives, business owners, and high-net-worth individuals to protect their most valuable possessions during a high-asset divorce. Let us fight for you to ensure you receive the best outcome possible.

Contact Our Howell High-Asset Divorce Lawyers Today

The high-asset divorce lawyers at Gentry Nalley provide more than just legal representation; we provide proven legal strategies at each step of your divorce.

Let us put our knowledge and insights to work to protect your assets, minimize tax consequences, and help you attain the end results you deserve.

Contact us by calling (517) 552-4092 today, or use our contact form.