High Net Worth Divorce Attorney in Southfield, Michigan

What are examples of complex family issues in high net-worth cases?

Southfield, MI family lawyer David Binkley talks about distinguishing between personal and marital property in a high net-worth divorce case.

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one of the mantras
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that i employ in all my cases
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is a simple two-word expression facts
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matter you have to understand the facts
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most of the time in high net worth cases
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you don’t find
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one individual having made his fortune
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all by himself
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and being a single member of some
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organization
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with from which all the wealth flows
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that’s very
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atypical most the time especially around
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here
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you’ll see family wealth or family
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businesses or multiple businesses under
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a single umbrella
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so the biggest issue for me is
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identifying what does this guy
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or girl own what is really in play here
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they have 12 of this they have 5 of that
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the complications in that mean is it
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liquid
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can it be reached is it part of the
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marital estate
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i actually lecture on this point at u of
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d law school frequently
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on what is marital property and what
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separate property
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and getting to the conclusion on what’s
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in the pot is the is the first step
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that to me sometimes presents the most
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complicated issues because
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often this stuff is held in trust or
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it’s in
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various layers of parent sub
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and sub companies so
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getting through the organizational uh
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structure of
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whatever these businesses are to
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identify what’s
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actually in the mirrorless state is the
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first order of business and the biggest
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issue in some of these cases
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[Music]

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