Navigating Contested Divorce

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Navigating Contested Divorce

In almost all circumstances, divorce creates stress. When a divorce is contested, it can be even more stressful for everyone involved. However, contested divorce can also be a tool used to ensure the divorce is settled fairly for both parties. If you’re considering divorce and anticipate disagreements with your spouse, it is highly likely your divorce will be contested.

Read on to learn more about contested divorce and how you can lessen your stress throughout the process. For questions or to discuss your particular situation, contact experienced Milwaukee divorce attorney Odalo Ohiku at The Ohiku Law Offices in Milwaukee.

Defining Contested Divorce

A divorce is considered contested when the involved parties disagree on one or more of the issues at hand. A divorce could be contested because only one party wants the divorce while the other does not. A contested divorce may also happen when the involved parties disagree on child custody arrangements, child support and placement, alimony, how to split up assets, or another major issue.

An uncontested divorce is when both parties agree on most or all major issues, are willing to work together, and make the decision to divorce collaboratively. This is a far less common scenario than contested divorce.

Contested Divorce Scenario: Only One Party Wants a Divorce

In the State of Wisconsin, only one spouse needs to file for divorce with the justification that the marriage is “irretrievably broken” for a divorce to proceed. The other spouse then needs to respond to the divorce filing within 20 days or the court may decide to proceed with a default divorce in which the filing party gets everything they requested. The only reason the divorce process can be stopped is if both spouses agree to do so.

A scenario in which only one party wants a divorce is considered a contested divorce.

The Upside and Downside of Contested Divorce

It may be hard to imagine an upside to contested divorce, but it can be an important tool in ensuring the outcome of a divorce is fair to all parties involved. When spouses disagree on critical issues like child placement, child custody, and alimony, their divorce becomes contested and goes in front of a judge for litigation. This means an objective, experienced third party (the judge) will have the final word on the outcome of these important decisions after weighing what is fair and in the best interest of all parties.

A contested divorce that goes in front of a judge for litigation is also important in a situation in which one spouse is manipulative, abusive, or tries to impede the divorce process from coming to a fair conclusion. The judge can take all information into account and render a judgement that is legally binding and fair to both parties despite the efforts of one to impede the process.

Contested divorces do have their downsides. Usually, a contested divorce takes significantly longer than an uncontested divorce. At minimum, a contested divorce will take four months, though some can take years. The quicker the spouses can come to an agreement or compromise on all issues, the quicker the divorce process will conclude. Because they take longer, contested divorces are generally more costly and stressful.

Contested Divorce Scenario: Spouses Agree on Everything Except One Issue

A divorce is considered contested even if spouses agree on all major issues but one. Divorce can become an extremely complex process for people with children and/or considerable assets to be divided. Child custody, placement, and support are highly emotional and nuanced issues that can spur major disagreement and cause a divorce to become contested so it can be litigated in court. Contestation of a divorce is also necessary when parties disagree on how to divide assets; even though Wisconsin is a marital property state, meaning assets are divided evenly between divorcing spouses; there is a lot of grey area. Intervention by a divorce court can lead to a fairer settlement when one or both parties disagree on how assets should be divided.

The Best Tool for Navigating Contested Divorce

Divorce isn’t easy, and a contested divorce can quickly become overwhelming. If you’re facing a contested divorce, the best thing you can do for yourself, your spouse, your children, and your assets is to hire an experienced Milwaukee divorce attorney. An attorney will be able to assess your particular situation, answer questions, provide expert guidance, communicate with the courts and judges, assist with paperwork, and help you avoid common roadblocks and mistakes.

Divorce doesn’t just affect the spouses. Hiring an attorney with the knowledge and compassion to handle delicate divorce cases involving children is critical. Attorney Odalo Ohiku of The Ohiku Law Offices of Milwaukee has extensive experience with child custody and placement and alternative dispute resolution so you only need to make one call.

For questions about contested divorce or to get started working with one of Wisconsin’s premiere divorce attorneys, contact The Ohiku Law Offices today.

How Spousal Maintenance is Calculated in Wisconsin

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How Spousal Maintenance is Calculated in Wisconsin

High net worth couples considering divorce in Milwaukee likely have questions about spousal maintenance. Spousal maintenance, also known as spousal support or alimony, refers to a court order for one party in a divorce case to pay the other party a certain amount of money over a certain length of time.

There is no specific formula Wisconsin divorce courts use to calculate how much or how long spousal maintenance should be paid. The court looks at many factors in a divorce case to determine the appropriate spousal maintenance arrangement. Because every divorce case is different, spousal maintenance is determined based on the facts of each specific case.

Below are some insights into how Wisconsin divorce courts calculate spousal maintenance. For advice or questions about your specific situation, contact The Ohiku Law Offices, where experienced Milwaukee Divorce Lawyer Odalo Ohiku can provide you with additional guidance.

Factors Considered in Calculating Spousal Maintenance 

When considering how to appropriately construct a spousal maintenance order, Wisconsin divorce courts consider a number of factors specific to the divorce case. These factors include, but are not limited to:

Length of marriage. Marriages that last longer than 10 or 20 years are more likely to result in a divorce court order for spousal maintenance and for that maintenance to last longer. Marriages less than 10 years typically result in an order for less, if any, spousal maintenance.

Division of labor in the marriage. Wisconsin courts look at how unpaid labor, like childcare and housekeeping, was divided between parties during the marriage. This is significant because, if one party took on the majority of these duties, it could have caused them to put their career on pause, go part-time, or forgo promotion.

Earning capacity. The current income of each spouse is considered, as well as each party’s level of education and potential future earning capacity. When evaluating these factors, a court considers what training, education, and credentials each party holds and the cost for obtaining additional necessary education; whether one party supported the other while they obtained education, training, or credentials; whether one party has been absent from the job market to care for children and, if so, for how long; current and future childcare responsibilities; and whether a working party could or should be earning more.

Standard of living. Courts consider what type of support is necessary to ensure each party has similar financial access and freedom as they did before divorce and may decide to award more or less spousal maintenance based on this factor.

Other factors considered: 

  • How property is divided in the divorce case.
  • The age, physical health, and emotional health of each spouse.
  • Tax considerations for each party.
  • Prenuptial or other prior agreements made that concern financial support.
  • …and more.

Spousal maintenance may be ordered for either spouse, and can be granted whether a couple is seeking divorce, annulment, or legal separation. Both parties are also able to file a request to change the spousal maintenance order, though the final decision is up to the court.

One factor not considered in determining spousal maintenance is whether one party is “at fault” for the breakdown of the marriage. Wisconsin is a no-fault divorce case, meaning neither party needs to prove that the other party is responsible for the end of the marriage.

Can spousal maintenance be avoided? It is understandable to be concerned about a divorce court ruling that you will have to pay spousal maintenance. Divorce is a stressful process, and often comes with significant financial concerns and considerations. If a court rules you are responsible for paying spousal maintenance, there is no way to avoid this responsibility. However, the court may rule that a spousal maintenance order is not necessary. By talking to a knowledgeable divorce lawyer, you can get a better sense for what to expect from your divorce case.

Divorce is complex, particularly for high net worth couples. Topics like spousal maintenance are highly variable, and only an experienced divorce attorney can help you understand what to expect in your specific situation.

Whether you are seeking support in understanding spousal maintenance, child custody and placement, or divorce in general, Milwaukee Divorce Attorney Odalo Ohiku is the partner you need. Give The Ohiku Law Office a call today with questions or to set up your first appointment.

What is Unique About High Net Worth Divorce?

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What is Unique About High Net Worth Divorce?

High net worth couples considering divorce have many things to consider along their journey. While the divorce process looks similar for couples with lower net worth and fewer assets, high net worth couples will face certain complexities that others may not. Child custody, alimony, prenuptial agreements, and division of assets are just some of the issues at play when a couple with considerable assets decides to divorce.

The following article lays out some details about how high net worth divorce may differ from the divorce of a lower net worth couple. Each divorce is unique, so for details and added knowledge about your specific situation, contact expert Milwaukee Divorce Attorney Odalo J. Ohiku of The Ohiku Law Office today.

High Net Worth Divorce & Child Custody and Placement

In Wisconsin, child custody and placement can be decided by the parents through mediation or by court order — but is always determined with the best interests of the child in mind. Commonly, both parents have joint custody as long as both are deemed to be fit and proper persons by the court, meaning each has an equal share in decision-making when it comes to the child.

Placement refers to the amount of time a child or children spend in the care of one or both parents. While the children are placed in the care of one parent, that parent retains the right to make routine daily decisions about the child’s care. When a court determines a placement schedule, as long as they deem both parents fit to be around the children, they outline an arrangement that allows the child regular, meaningful periods of interaction with both parents.

Child support is paid by one parent when the placement arrangement dictates that the child spends less than 25% of their time, or 92 nights per year, with that parent. The amount of child support is set as a percentage of that parent’s income – 17% for one child. This is where high net worth couples’ experience may differ from others’. Those with higher income will pay a larger sum in child support as a result of this calculation, which is logical given that the child in question may have been used to a lifestyle commensurate with living with parents who make a higher income.

Child custody, placement, and child support are highly complex and each situation is unique. For questions, contact Attorney Odalo Ohiku today.

Prenuptial Agreements & High Net Worth Divorce

In general, it is more common for a high net worth couple to have a prenuptial agreement, as each party may bring more wealth and assets to the marriage and are interested in protecting those assets in the event of a divorce. As long as a court determines a prenuptial agreement to be valid, the arrangement set forth by this document may impact processes such as the payment of alimony and division of assets — major considerations for high net worth couples.

Division of Assets & High Net Worth Divorce

High net worth couples often have a complex portfolio of assets that will need to be distributed as part of the divorce process. Wisconsin is a marital property (or community property) state, meaning all income and assets procured during the course of a marriage are divided equally between spouses in the event of a divorce – with some caveats. However, that doesn’t mean each asset is easy to split down the middle, and high net worth couples are more likely to have more assets that are not easily split – like multiple homes, vehicles, businesses, or antiques. If the couple cannot agree on how their assets should be divided through a mediation or arbitration process, the court will have to intervene and the process can take a long time.

Divorce is always complex, and divorce between high net worth individuals is even more so. Attorney Odalo J. Ohiku is the greater Milwaukee divorce attorney more high net worth couples turn to. He also has expertise in mediation, arbitration, child custody and placement, and more. Call The Ohiku Law Office today with questions or to schedule your appointment.

Division of High-Value Assets in Divorce

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Division of High-Value Assets in Divorce

For high net worth couples considering divorce, one of the most common and significant topics of consideration is how their property and assets will be divided. Many high value assets, like a family home, vacation home, car, boat, antiques, art, jewelry, etc. may hold emotional as well as monetary value for one or both spouses. Other assets of consideration may include owned businesses, investment holdings, retirement accounts, and debt.

In order to understand how assets are divided in Wisconsin divorce, it’s key to understand that Wisconsin is what’s known as a community property or marital property state.

Marital Property vs. Individual Property

Wisconsin is a marital property state, meaning that, when a couple living in Wisconsin decides to divorce, property and debt acquired after a specified determination date (usually the date of marriage) are divided equally no matter whose name appears on the title, with some exceptions and caveats.

The term property can be interpreted to mean anything bought, earned, or acquired during the course of the marriage – homes, vehicles, antiques, jewelry, investments, businesses, etc.

Any debt acquired during the course of the marriage is also subject to equal division, even if it was incurred by only one spouse.

Individual or separate property is that which was acquired by an individual before they were married, or received as a gift or inheritance during the course of the marriage. This type of property is not divided during divorce unless it has been commingled, thereby becoming marital property. An example of individual property that becomes commingled is a home purchased by one spouse before the date of marriage that is then fixed up and invested in by both spouses so it increases in value during the course of the marriage. In all likelihood, the court would deem this home marital property, even though one spouse purchased it before the date of marriage and it is only their name on the title.

The Reality of Asset Division in Divorce

When it comes to assets like houses and cars, it’s not physically possible to split them in half and give each spouse an equal piece. Instead, the court takes into account the total value of all assets and debts to make a distribution judgement.

In addition to the total monetary value of all assets and debts, the court takes into account a number of factors that may necessitate one spouse receiving a certain asset or differing amount than the other, like:

  • Duration of the marriage.
  • Future earning potential of each spouse.
  • Whether one spouse has significant individual property.
  • Unpaid labor contributed during the course of the marriage, such as childcare and housekeeping.
  • Who will have financial responsibility for children moving forward.
  • Whether one spouse contributed in a significant way to the future earning potential of the other, such as paying for education or foregoing their own income to take care of children so the other could work.
  • Stipulations outlined in pre- and postnuptial agreements, as long as the court deems them fair.
  • The health of each spouse.
  • Tax implications for each spouse.

An example: the court may determine that the spouse who will have primary custody of the children will be awarded the house, with an agreement that when the children reach the age of maturity the house will be sold and the value split evenly between the spouses.

A key step in the process of property division in divorce is valuation of all marital property. This is achieved by both spouses disclosing the value of all accounts and investments they hold, and investigations done by professional actuaries and appraisers on items without an evident dollar value, like a home, car, or antique. The divorcing spouses cover the costs of these professional valuations.

Emotions, Stress, & Asset Division 

As we all know, many things we own hold so much more than monetary value. A family home is filled with memories, a nurtured business with dreams and aspirations for the future. Antiques and collectibles may mean much more than their sticker price to one spouse, while the other sees them as uninteresting relics. Asset division in divorce can be an emotional process for both parties, but having an experienced divorce attorney on your team can help lessen the stress.

High net worth clients like you need a divorce attorney with experience, compassion, and a collaborative mindset. Attorney Odalo Ohiku knows that divorce is a highly complex process, particularly for those with substantial assets, and works diligently to ease the emotional strain of the process not only for the client, but for all involved.

Odalo Ohiku is the Milwaukee divorce attorney you want on your team. The Ohiku Law Office offers a wide variety of services, including custody and placement, dispute resolution, divorce mediation, and more. Give our offices a call today with questions or to schedule a consultation.

separation-vs-divorce-whats-difference

Mediation or Arbitration? Understanding Your Options for Alternative Dispute Resolution

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Mediation or Arbitration? Understanding Your Options for Alternative Dispute Resolution

For some high-net worth individuals considering divorce, alternative dispute resolution is a viable alternative to traditional litigation. Alternative dispute resolution strategies include mediation and arbitration and can be more flexible and efficient than taking a divorce case through the court system.

But what is the difference between mediation and arbitration? How do you know which strategy is right for your unique situation? At The Ohiku Law Office, experienced Divorce Attorney Odalo Ohiku supports high-net worth clients like you through your divorce by offering innovative strategies that settle conflicts and help families heal.

Read on to understand more about mediation, arbitration, and whether one of these strategies can help you during your divorce process.

Understanding Mediation

Divorce mediation has become more and more common, particularly among spouses with children. In mediation, the divorcing parties voluntarily agree to come to the table with a neutral representative called a mediator (usually an attorney with experience in mediation). The mediator has both parties sign a confidentiality agreement which protects each person’s ability to speak freely at the mediation table without fear that their words will be used against them in the future. Without taking sides, the mediator guides the parties in both joint and private discussions to find resolutions that are satisfactory for everyone. Resolutions are non-binding and can be revisited in the future should the needs of the family change.

Pros and Cons of Mediation

The goal of mediation is to avoid entering the court system while ensuring a divorce process that is thoughtful, respectful, and balanced. Mediation is an excellent solution for spouses who have decided to divorce but are still on amicable terms and who believe they could come to a divorce agreement through thoughtful discussion. Mediation is also a wonderful solution for divorce-seekers with children looking to create a custody arrangement that works for everyone. Mediation also usually takes less time than a traditional lawsuit and allows for flexibility in when and where the meetings happen.

However, mediation is not always the best option. For high-net worth individuals with a complex portfolio of assets to divide, going through the formal court system may actually be the most efficient route. For divorcing spouses who are not on amicable terms and have difficulty coming to agreement on important issues, mediation may end in a stalemate with the divorce taken to the court system anyway.

Understanding Arbitration

Arbitration is an alternative dispute resolution strategy that is more formal than mediation, yet less formal than taking your divorce case through the court system. In arbitration, the divorcing spouses hire an arbitrator (usually a lawyer or judge) to hear their arguments and review evidence in their divorce case. The arbitrator then makes a judgement in the case that is binding – just like if you were in a courtroom with a judge.

Arbitration is different from formal court proceedings in that it is private and the divorcing spouses select and hire their arbitrator. Further, while you will still present evidence and arguments, these processes are less formal than they would be in a courtroom.

Pros and Cons of Arbitration

Like mediation, arbitration is usually more efficient, flexible, and cost-effective than traditional litigation. Unlike mediation, arbitration is a formal process that ends in a binding judgement. People who choose arbitration to settle their divorce generally find the element of privacy a benefit. It is also usually easier to schedule a hearing with an arbitrator than waiting for a court date, so the whole process is smoother and takes less time.

The biggest con of arbitration for those considering divorce is that the decision of the arbitrator is binding in almost all cases. So, if one or both spouses do not like the final decision, they do not have the option of appealing the decision or going back to court.

Alternative dispute resolution strategies like mediation and arbitration can lighten the emotional and mental load of divorce, and The Ohiku Law Office is here to help you understand your options. Attorney Odalo Ohiku is an experienced mediator and arbitrator and has helped hundreds of local individuals and families work through the divorce process in a healthy and supportive way.

Experienced Divorce Attorney Odalo Ohiku is passionate about supporting his clients throughout the divorce process by offering thoughtful alternative dispute resolution solutions. To learn more and discover which strategy is right for you, call The Ohiku Law Office today.

best divorce lawyer Milwaukee

No Time for Couch Potatoes

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No Time for Couch Potatoes

best divorce lawyer MilwaukeeAugust is upon us and summer is here. Time to go outside and enjoy some of the events Milwaukee and the surrounding areas have to offer. Summer doesn’t last long in Wisconsin, so we should use this time to visit parks, hike some trails, see the botanical gardens, and take a moonlight stroll by the lakeshore. Camping would be a wonderful activity for adults and children as well.

There are plenty of festivals and county fairs to attend in Wisconsin during the summer. One such annual event which takes place August 7 through August 14 is Bronzeville Week. Bronzeville Week is a celebration of Milwaukee’s African-American cultural district. This is a celebration of culture, history, art, food and entertainment.

Bronzeville is a neighborhood with a rich cultural history. Bronzeville Week celebrates that history with music, art, and fun. Alderwoman Milele A. Coggs states that “Bronzeville Week is truly an event emphasizing fun, family, community, all while introducing people of all backgrounds to culture they may not be familiar with.” In the past, Bronzeville was host to music legends Billie Holiday, Duke Ellington, Count Basie, Dizzy Gillespie, and Nat “King” Cole.

There is no shortage of local artisans in the neighborhood, and during Bronzeville Week they open their doors and showcase the work of numerous talented artists. The neighborhood also is home to murals and sculptures. All of this is surrounded by historic and beautiful architecture.

This year the event includes a 5k walk/run titled HaRUNBee for Healthy Birth Outcomes, to bring awareness to infant mortality and to bring people together to address this issue. The walk/run can be done in person on August 7th, or virtually.

If you want to cool off, duck the humidity, and absorb some culture inside, visit Beyond Van Gogh: The Immersive Experience, which is running until September 19th. This event is located at the Wisconsin Center and is set up so social distancing is easy to maintain, and you can take your time and enjoy this immersive experience.

Through the wonders of technology, you can walk through and be immersed in Van Gogh’s art and feel like you are standing in his paintings. Van Gogh’s words are set to a symphonic score which plays as you walk through the exhibit. It is an incredible sight to behold, and one that is fun and educational for both adults and children.

divorce lawyers Milwaukee, WI

Right Approach Right on Time

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Right Approach Right on Time

BY Felicia Owen:

Attorney General Janet Reno once said of lawyers: “I want us to be the problem-solver, the peacemaker, the sword, and the shield.” This is what we strive to do for our clients at Ohiku Law Office. We want to help make things better for you in stressful situations. We want to protect you and make sure you obtain the best outcome possible for your specific case. We have the difficult conversations so you don’t have to. We protect what matters most.

At Ohiku Law, we are the experts in family law, and we know that people come to divorces and child custody issues with questions, fears, and concerns. A divorce is a serious situation which involves children, where to live, how to live, and so many other things. It is important that you are able to ask questions, and in return, receive direct and helpful answers. A good lawyer will be able to do that.

There are times during a divorce case to be a peacemaker. Mediation is a good example. It is important to engage in meaningful mediation discussions to reach the best settlement possible. There are also times when attorneys need to be the sword for their clients. Sometimes pushing an issue and fighting in court is the only way to get our clients what they need. We are not afraid to stand up and make sure you get what is fair and right. And at the same time, shield you from as much stress and anxiety as possible.

Our family law expertise and experience are key to our problem-solving approach. No one divorce case is ever the same. Each person’s life is unique, which means each divorce is unique. What may work in one case doesn’t work in others. Out of-the-box thinking is an important component to problem-solving. If a client’s case involves a business, many properties, or children, then it will take some serious negotiation and problem-solving skills to reach the best outcome in a divorce.

Our goal is to protect what matters most to you and to help you through this process so you obtain the best outcome. We care about the whole person and about your well-being. You have worked hard for what you have, care deeply for your children, and at Ohiku Law, we respect that and will do all we can to protect all that matters most to you. It is not about us, but about you and your needs.

If you are considering divorce, call the divorce attorneys at Ohiku Law today.

Same-sex divorce: what you need to know

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Same-sex divorce: what you need to know

On June 26, 2015, the Supreme Court ruled that same-sex marriage was legal in all 50 states with the Obergefell v. Hodges decision. Prior to this ruling, many same-sex couples faced challenges when it came to interacting with the legal system, particularly in states like Wisconsin that did not recognize same-sex marriage. Today, same-sex marriage, divorce, and child custody is subject to the same laws and proceedings as any legal marriage in the State of Wisconsin. However, there are still some key considerations for same-sex couples looking for answers to their divorce law and child custody questions.

At Ohiku Law, we help high net worth individuals and couples navigate divorce law and family law, taking the time to assess each unique situation and provide expert recommendations to come to the best outcome for everyone. We are experienced in handling same-sex divorce cases and have shared below some of our top tips for those entering the process.

Same-sex divorce considerations

Prior to the 2015 Supreme Court ruling, many same-sex couples struggled to resolve divorce, separation, and child custody issues for a couple of reasons. First, in states like Wisonsin where same-sex marriage was not recognized, many of these proceedings were informal and, thus, subject to variation and interpretation. Second, for couples moving from a state where same-sex marriage was recognized to one where it was not, it was often complicated to reconcile past legal proceedings with laws of the new state of residence.

Today, same-sex and opposite-sex marriages, divorces, and child custody proceedings are treated the same in the eyes of the law. Any divorcing couple must file in their county of residence, not the county in which they married. At least one of the spouses needs to have resided in Wisconsin for six months and in their filing county for at least 30 days. Additionally, all couples must wait six months after a divorce is finalized to remarry.  Finally, no couple has to prove wrongdoing in a divorce, as Wisconsin is a no-fault divorce state. These and other major factors make divorce proceedings equal for all couples, but that doesn’t mean there aren’t unique considerations for same-sex couples.

One challenge in same-sex marriage is awarding spousal maintenance. The reason this is challenging is because one major factor a court considers in awarding spousal maintenance is length of marriage. For couples who were legally married in Wisconsin, their marriage would not be more than 6-or-so years old, making length of marriage less of a contributing factor in the determination of spousal maintenance.

Child custody considerations

Another factor in divorce proceedings that can be more complicated for same-sex couples is coming to a fair and just child support and custody agreement. Before 2014, same-sex couples were not allowed to adopt a child. So, many same-sex couples chose to have one spouse adopt a child that both then cared for. In child custody cases, this may put one parent at a distinct advantage even though both provided equal, ongoing care for the child in the years since they were adopted. It is important that these issues are navigated with sensitivity and fairness to reach a judgement that is right for everyone involved – both spouses and the child or children in question.

Same-sex marriage and divorce are still relatively new to the Wisconsin law system. This means there is less precedence for rulings and many more factors to consider in same-sex cases, and that they must be handled by professionals who are sensitive to the unique opportunities and challenges presented.

At Ohiku Law, we take pride in providing expert services customized to meet the unique needs of our clients. We understand that no marriage is alike, and that same-sex marriage and divorce comes with additional considerations. We work hard to ensure every client that comes through our doors is treated with dignity and receives the most just and equitable outcome possible. Learn more about our Milwaukee divorce attorney team and give us a call with questions today.

Divorce considerations for high net worth individuals

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Divorce considerations for high net worth individuals

Divorce is a complex process for everyone, but can get even more complicated for high net worth individuals. When one or both spouses have considerable assets, questions about division of property, what counts as marital property, and who should benefit can quickly become hot-button issues. All of these concerns must be carefully and meticulously handled to ensure the outcome of the divorce proceedings is just and equitable.

At Ohiku Law, Milwaukee divorce attorney Odalo Ohiku has years of experience helping individuals and families with considerable assets navigate the divorce process. We are committed to ensuring every aspect of your divorce is expertly handled, from tax considerations to property division to custody rulings. If you are a high net worth individual considering divorce, keep reading to learn more.

Marital property 

Wisconsin is what’s known as a “marital property” state, meaning all assets and property owned or acquired by a couple during the course of a marriage are equally owned by both partners. However, there are exceptions to this rule, including property owned or inherited by one spouse before or during the marriage – but this depends heavily on the particular situation. Debt incurred during the marriage is also considered to be the equal responsibility of both spouses with some exceptions.

Marital property law will have an outsized impact in divorce proceedings, particularly between spouses with considerable assets to be divided. In rare cases, one or both spouses may try to misrepresent or hide assets to give themselves an advantage, but this is a serious mistake that carries significant consequences. If you’re worried your spouse may try to hide assets during your divorce, the best thing to do to protect yourself is to hire an experienced divorce lawyer.

Division of property in divorce

While marital property law may make it seem like everything will be split down the middle during divorce proceedings, that is not always the case. The court will make a ruling on division of property only after considering a number of factors, including length of marriage, what each spouse owned when entering the marriage, how each spouse contributed to the marriage (both financially and in regards to child care or other supports), age and health considerations for both spouses, earning capability, indivisible assets, the needs or the spouse who will retain primary care of minor children, tax consequences, and much more.

Because each of these elements are different for every couple, the final ruling on division of property will be unique in each case. So, it is difficult to pre-judge or generalize about how property will be divided in a divorce case.

How to protect your assets in divorce

If you have considerable, valuable assets, the very best way to protect your interests during divorce proceedings is to hire an experienced divorce lawyer. We work with you to carefully review your finances and assets, making expert recommendations on how to best proceed to ensure you achieve a favorable outcome. In addition to a great lawyer, it’s smart to consult with your financial planner, tax professional, and other trusted advisors as you move through the process.

Assets that will be considered and potentially divided during a high net worth divorce may include: primary and secondary homes and owned property, business interests, bank accounts, trusts, annuities, pensions and retirement accounts, any type of vehicle (cars, boats, planes, etc.), inherited property, and more. It is important to provide your attorney with a detailed accounting of these and other assets so we can proceed together with a clear picture of your unique situation.

Odalo Ohiku and the team at Ohiku Law are experts in Milwaukee divorce law, custody and placement, dispute resolution and more. We help high net worth individuals and those at all income levels achieve the best possible outcome in their divorce. Give us a call today with questions or to get started.

Hidden assets and divorce: what you should know

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Hidden assets and divorce: what you should know

Divorce is one of the most stressful events a person can experience, and it causes people to make poor decisions they may not otherwise make in less stressful circumstances. Divorce can also cause a once-peaceful couple to turn against each other and take extreme measures to protect their own interests.

Hiding assets during divorce is one of these extreme measures. Though not necessarily common, hiding assets during divorce proceedings might be tempting for one or both spouses to ensure their hard-earned finances are protected. However, hiding assets is extremely unwise and carries serious consequences if and when the deception is uncovered.

At Ohiku Law, our expert team help high net worth individuals navigate the complex divorce process. We have seen it all when it comes to divorce and are here to offer expert advice to individuals and couples in Milwaukee divorce law and family law. Read on to learn more about why people might try to hide assets during divorce and the consequences for doing so.

Why might someone try to hide assets during divorce? 

During divorce proceedings, both spouses are required to fill out a comprehensive financial disclosure statement and sign it under oath. The reason for this statement is to give the court a full picture of the financial situation of both sides to help inform the judgement process.

As stated above, divorce can be extremely stressful and put people in a position where they are worried about protecting their finances. This causes some people to make the extremely poor decision to try and hide their financial assets. Alternatively, one spouse may feel they can “get back” at the other by concealing the true nature of their finances, or otherwise gain an advantage in divorce proceedings by not disclosing the true nature of their financial assets.

How does someone hide assets during divorce? 

There are several ways someone might try to hide financial assets during divorce. One way is to intentionally undervalue marital property or assets, such as a home, vehicle, retirement savings, or shared business. Another way is to open a secret account and move money from a shared and/or disclosed account into this secret account. A person may also overrepresent the amount of debt they carry and/or underreport their annual income.

What are the consequences for hiding assets during divorce? 

As referenced above, the financial disclosure statement required during divorce proceedings is signed under oath. This means that lying on this statement is illegal and known as “perjury.” If it is discovered that an individual has lied on their financial disclosure statement, it is up to the court to determine the consequences. The court may rule that the offending spouse has to pay a portion or the entirety of the other’s legal fees or that they have to pay a fine. In rare cases, the court may rule that the offending spouse should serve jail time.

What should I do if I think my spouse is hiding assets?

If you are concerned your soon-to-be-ex-spouse is hiding assets during divorce proceedings, the best thing you can do is hire an experienced Milwaukee divorce attorney like Odalo Ohiku. We have years of experience understanding financial disclosure documents and can spot red flags that may indicate your spouse is hiding assets. We can give you expert advice and work with the court on your behalf to uncover any deception that is taking place, ensuring appropriate consequences are handed down and your assets and interests are protected. In some situations, we may recommend hiring an investigative accounting professional to review the documentation for signs of fraud.

At Ohiku Law, our team of divorce law and family law experts are here to provide you with expert divorce, custody, dispute resolution, and criminal law advice and advocacy. If you have questions about your particular situation and are wondering if Ohiku Law is the right fit for you, give us a call to schedule a discovery conversation. We help high net worth individuals and families across Milwaukee and surrounding communities protect their interests and their future.