Divorce can be a challenging and emotional process. This can be especially true for high net worth individuals due to how contentious a high-dollar divorce can become. Legitimate issues like figuring out child support and co-parenting arrangements can be difficult enough. All too often, greed, jealousy, and spite also complicate these sorts of cases.
A high net worth divorce case is defined as a divorce case in which one or both spouses have substantial assets, such as:
If you are facing a high-net-worth divorce, it is crucial to work with a skilled and experienced Commerce City, CO, high-net-worth divorce lawyer. They can help you protect your rights and keep your hard-earned assets where they belong: with you.
At Johnson Law Group, our team of divorce attorneys and family law professionals has extensive experience in these high-net-worth divorce cases. We understand the unique complexities and sensitivities involved in these cases. Our firm is committed to providing our clients with the legal guidance and support they need to navigate the process successfully.
Child custody is a significant issue in any divorce case involving minor children. High net worth divorce cases are no exception. Having more resources in a family can actually make the process more difficult and emotional in some cases, rather than simplifying the process of ensuring a child’s needs are met. In these cases, one or both parents may have a high income. Determining what is most beneficial for the child may require an exhaustive analysis of each party’s financial situation.
Our Commerce City, CO, high net worth divorce lawyer can help you negotiate a child custody arrangement that protects your child’s interests. It can also ensure your own financial stability and set you up to be a successful co-parent. We understand the importance of maintaining your relationship with your child. We also know the importance of fighting for control of your own life and keeping what is rightfully yours. This is why we can work tirelessly to achieve a favorable outcome for you and your child alike.
In Colorado divorce courts, marital property includes all assets acquired during the marriage. These assets can include:
It can even include tangible items like an expensive piece of jewelry or a rare comic book collection. Dividing marital property and assets in high net worth divorce cases can be complicated. It can also be difficult to determine what property is held jointly and which assets are individually owned. It is essential to work with an experienced high net worth divorce attorney. They can ensure assets are divided correctly and that you are treated fairly.
At Johnson Law Group, our Commerce City, CO, high net worth divorce lawyers have extensive experience in communicating productively with other attorneys and court officials. In high net worth divorce cases, we can get marital property and assets divided fairly and expeditiously. We understand the complexities involved in these cases. Our firm can work to protect your interests while also streamlining the process.
When calculating child support in high net worth divorce cases, the income of each parent is crucial. Determining child support in these cases can be a challenging equation for the court to balance. The parties involved may have a high income or own multiple businesses. They may also have other types of complicated, high-dollar investments.
Support modifications can be made if there is a substantial change in circumstances in the future, such as:
The attorneys at Johnson Law Group can help you navigate the support modification process. We can ensure that any modifications are made in full accordance with the law. We can also ensure that these are not done at the undue expense of you or your children.
A: One way to keep the most money in any divorce is to have a clear understanding of your finances and assets. You should know:
An experienced divorce attorney can help you identify all the marital assets you have a legal claim to. These include any easily overlooked assets or accounts or those that a spouse acting in bad faith has tried to hide. While this can be a tense and emotional time, remember that divorce is not about one spouse harming or humiliating the other. It is about ensuring that everyone is treated fairly and in accordance with the law. That way, everyone can move on with their new lives.
A: That depends on when the 401(k) was established and the circumstances under which it was funded. In Colorado, a divorcing person may indeed be entitled to a portion of their ex-spouse’s 401(k) or other retirement accounts. However, the account must have been funded during the marriage. Therefore, an old, fully funded 401(k) from before the marriage and in one spouse’s sole name is not joint marital property, unless it had been:
Other retirement accounts are indeed considered marital property. The court will consider several factors when dividing these sorts of assets. These include the length of the marriage and each spouse’s contribution to the account and the marriage.
A: In Colorado, the court will consider several factors when determining who gets a shared familial residence, and any other relevant real estate, in a divorce. These factors may include:
In some cases, one spouse may keep the house while forfeiting certain other assets to the other. In others, the house may be sold off so that the proceeds can be fairly divided between the spouses.
A: One way to protect your retirement in a divorce is to ensure that you have a clear understanding of all your retirement accounts and assets. You will want to work with an attorney who understands both estate planning and family law. This can ensure that you are holding assets in the most beneficial form for your unique situation. They can also help you negotiate a fair divorce settlement that accounts for your personal retirement needs and goals. Additionally, you may want to consider a legal instrument called a qualified domestic relations order (QDRO). This can divide retirement accounts in a way that minimizes tax penalties and maximizes your share of the assets. A QDRO is a versatile tool that can also be implemented in cases where spousal support enforcement is needed.