Division of Marital Assets, Including Retirement Accounts
Livonia, Michigan, Attorney for Protection of Your Interests
If you have accumulated substantial property during your marriage or are concerned about keeping specific assets, you may need an attorney with relevant experience in divorces where these complex property division issues arise. The same is true if debt is a concern and home foreclosure or bankruptcy is a possibility.
Since 1979, I have provided solid divorce counsel and representation to men and women across the spectrum of life in southeast Michigan — from wage-earners and trades people to executives, doctors, other highly compensated professionals and business owners. Whatever your concerns or questions about property division, I encourage you to contact me for a free initial consultation.
Dividing Assets and Debts — Pensions and Retirement Accounts — Dealing with Disputes
Some of the greatest shocks divorcing people encounter involve recognition of realities
- All marital assets that have been accumulated or "commingled" during the marriage are subject to division in the property settlement, regardless of who directly earned or used them
- Individual pensions and retirement accounts, such as 401(k) plans, that have increased in value during the marriage are also subject to division, to the extent of the marital increase
- Negotiations can become critical because of disputes over assets either party claims as separate (premarital or inherited), valuation of a family business, allegations that either the husband or wife has squandered or is hiding assets, and a wide range of other issues
- Allegations of "fault" in the divorce — such as adultery, domestic violence or substance abuse — can be considered by our courts and influence your property settlement
See my FAQ (Frequently Asked Questions) for some examples of asset division issues, or my page on separate property
Creative and Practical Solutions Driven By Your Priorities
Emerging from your divorce in the best possible financial shape may depend on your attorney's ability to develop equitable "buy-outs" for certain assets or tradeoffs based on your priorities. Depending on your situation, you may need a solid valuation of your family business, dependable appraisals of certain assets, or an asset tracing/forensic accounting effort to show your divorcing spouse's actual income or status. The courts have ruled that, just because a business cannot be sold does not mean that it does not have a value. There are multiple ways to value a business; and often the value is the value that it has to the owner and operator, not what a buyer would pay for it. Arguments can be made on both sides, and I know the ones to make, depending on whether you are the owner or the owner's spouse.
These are among my strengths as a longstanding family law attorney, along with an ability to take a long-range view on tax implications and other financial considerations.