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High Asset Divorce Archives

Is my trust fund safe from divorce?

A trust fund can be part of a legacy from one generation to the next. When your loved ones name you as a beneficiary of a trust, they hope that you can benefit from their careful planning. Estate and financial planning professionals frequently advise that a trust represents a good way to protect assets from the claims of creditors as well as a way to keep assets safe from the claims of potential future spouses.

How can you protect your financial interests during divorce?

Many of the decisions you and your spouse must make as you dissolve your marriage involve finances. Like, how you will divide real estate or investment accounts. If there's a need for monetary support arrangements, there will be pressures on each side: what can the primary breadwinner afford to pay and still be able to live. Conversely the dependent spouse worries about how much is needed and how to make ends meet.

Children need financial support, and then some

Whether you once described yourself as a hopeless romantic, married someone you got along well with or chose to tie the knot because of an unexpected pregnancy, a change in your relationship status can make you question your previous decisions. If you decide to move forward with a divorce, establishing your financial future is likely one of your most pressing concerns - especially if you and your spouse share children. This is a time when objectivity may be difficult. However, it can be important to distinguish between your own financial objectives and the genuine needs of your children.

How will the current health crisis affect existing family law concerns?

Whether you call it the Coronavirus or Covid-19, there is no doubt it has descended on us with very little warning and changed our daily lives in significant ways. Both health concerns and the economic impact have had a ripple effect that has carried into divorce and family law litigation. The long-term effects are still unknown, but several immediate effects to divorce and family law litigants can be identified:

Determining the real value of art in a divorce

For a decade, you have collected art. Your collection has grown and the value of each piece has also gone up. You didn't necessarily do it as an investment -- you did it because you love it -- but you feel like it was a wise financial move, as well. You spent probably $5 million on the collection, but you now value it at nearly $20 million.

Placing a fair value on non-financial assets before your divorce

During your marriage, you and your spouse will generate income and acquire assets, as well as potentially acquiring debt. You each have a share in those assets and debts, regardless of whose income purchases what or whose name is on which account. If you choose to divorce, the courts in Colorado will have to divide both your assets and your debts unless you have a prenuptial agreement in place.

How do you split your Colorado real estate holdings in divorce?

The real estate market in Colorado has shifted drastically in the last decade. Properties that you may have purchased long ago are likely worth far more than what you initially paid for the property. The change in property values poses unique issues to couples considering a divorce in Colorado.

A high-asset divorce may also mean a large amount of debt

If you find yourself preparing for a high-asset divorce, it's important to fully understand what the process entails and how you can protect yourself along the way. Just the same, you'll want to learn more about any debt you're carrying, as this also comes into play when divorcing your spouse.

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