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High Asset Divorce Archives

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.

Is uncontested divorce realistic for high income couples?

In the modern world, couples considering divorce are increasingly aware that the process does not have to be a long, draining experience if both parties agree to end their marriage amicably. While this is almost always easier said than done, it is true that divorce does not have to be full of frustrating conflicts. If keeping the process civil is a priority to a couple, approach it with this goal in mind.

Retirement accounts and pensions get split in Colorado divorce

Couples with a high net worth or annual income often face unique challenges during divorce. In many divorces, deciding how to split up the marital assets is a major sticking point between spouses. The more assets you have, the more likely it is you are going to disagree about significant issues.

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