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Hiding Assets

To Hide or Not to Hide…Concealing Assets in Divorce Cases

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Something that happens too often during a divorce proceeding is the discovery of a hidden asset. People hide money or other assets in the belief they can keep them off the table in dividing property. Sometimes it is as straightforward as cash in a safety deposit box. Other people make deals with “straw men” to buy valuable assets at a fraction of their cost just to turn around and buy them back with a commission…

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How to Protect Inheritance and Gifts From Ending up in the Divorce Pot

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I’ve written before about prenuptial agreements and my concerns regarding their legal flimsiness. Prenuptial agreements may, or may not, be the best way to protect a couples’ separate assets. When it comes to inheritance or gifts, a prenuptial agreement alone is often not enough to protect those assets from ending up in the “divorce pot” to divvy up in case of a breakup. Loosely defined, separate assets are those items brought into the marriage, or…

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Prenuptial Agreement

Why You Probably Don’t Need a Prenuptial Agreement

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By John F. Schaefer Founder and Managing Partner, The Law Firm of John F. Schaefer Birmingham, Michigan With wedding season in full swing many engaged couples will consider a prenuptial agreement. These agreements have become increasingly popular over the past 15 to 20 years to the point that has become something that everyone thinks they should do, like making out a will. As I have drafted –and busted up – hundreds of these agreements, I…

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Marital Partnership Dissolve? Your Business Partnership Needn’t Also

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By John Schaefer, Esq. The Law Firm of John F. Schaefer   There are more than a million husband and wife-run businesses in the United States. There are also close to 900,000 divorces filed every year in our nation. When a marriage dissolves when a jointly-run business is involved, there are a limited amount of options available and all come with their own complications. One, the business can be sold; two, one of the partners…

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