In a divorce in Colorado, everything you and your ex-spouse have is supposed to be divided in half. Each party should receive 50% of the wealth, which may include property, houses, jewelry, art, cars, stocks, bonds, membership to exclusive organizations, and shares of a business. Taking time to assess the worth of everything you own takes special attention to make sure everything is properly valued. You must be aware of how much wealth you and your ex-partner have before it can be split. Even if your ex-partner is acting in good faith, if you do not know how much your net worth is, then the wealth may not end up being split equally.
When there is a lot of money involved, even small percentages of a former couple’s net worth is equal to a lot of money. That is why every detail must be paid attention to so that you are not taken advantage of or lose out on what is rightfully your money. This will mean the divorce process will take up more time than may be taken up by other divorces. Coming to the courts with an experienced divorce attorney will save time and energy in what may already be a lengthy process.
While all assets acquired during marriage are expected to be split 50/50 under Colorado law, if there was a prenuptial agreement signed before the marriage, this can add another level of complexity to the divorce. A prenuptial agreement is an agreement that two people had entered into before the marriage stating terms of the dividing of wealth and property in the case of divorce. What assets the pre-nuptial pertains to, or even if the agreement is still valid, are all questions that will be put forth during the proceedings.
In a high net worth divorce, your ex-spouse may have been the person who earned more of the income or has more of the property in their name. This does not mean that you are not entitled to fifty percent of all the assets. Furthermore, you are entitled to receive alimony while the financial situation is sorted out. Alimony is financial support that the court will order your ex-spouse to give you during the separation. The lifestyle you are accustomed to should be maintained throughout this process.
Children in a high net worth divorces also need special consideration. Divorce is hard enough on children and their lifestyle, so their routine should remain as normal as possible throughout this difficult and often traumatic time in their lives. It is vitally important that children’s tuition be paid if they are in private schools or college. Their extracurricular activities must continue uninterrupted and paid for as well. Perhaps your child has music lessons or has a sport’s coach that needs to be paid for. Maybe they are frequent travelers and have a social network across different cities or globally.
If you have people that you pay to help with childcare, these people need to be considered when the Denver court proceedings are progressing. The more stable the lifestyle is for the children, the easier the process will be on their mental health.
Children from affluent families may have trust funds that also make the separation of assets even more complex. An experienced Denver divorce attorney can help you sort this out.
How much is your diamond necklace worth? What is the value of the cars you own? How much is your art collection worth? What is the value of your current home or homes? These are just a few questions you may have to ask when splitting assets in a high net worth divorce. You will need experts to value your estate and belongings. If these values remain unclear, you may receive the short end of the stick. If your ex-spouse is not playing fair, being in the dark on the true worth of your wealth leaves you vulnerable to being taken advantage of. The bottom line is that you need to come to the Denver court proceedings knowing exactly the net worth of your assets so that it can be fairly divided.
There will be questions and situations you may not have even thought of when exploring the net worth of your wealth. You do not want to overlook any detail when it comes to getting the money that is rightfully yours. With an experienced high net divorce attorney by your side, you can rest assured that every aspect of the divorce will be thoroughly explored. We will aggressively go after what is yours. Whether the divorce is amicable or high conflict, an experienced divorce attorney will walk you through every step of the process. You do not have to be alone when sorting this out. Once a Johnson Law Group attorney is working for you, no stone will be left unturned until you leave the Denver courts with everything that is rightfully yours so you can continue living the life you are accustomed to.
If you are intending to or are currently in a high net level divorce, please contact an experienced divorce attorney at Johnson Law Group at (720) 463-4333 or through Text-to-Chat at (720) 730-4558 today.