While every divorce situation is distressing, it becomes more strenuous when parties have to worry about their financial stability and property loss. High asset divorce can raise serious disputes with spouses disagreeing over fairness in the division of marital property. A high-profile couple can have real estate investments, property interests, retirement plans, complex trusts, and international assets. A combination of such assets can make divorce proceedings for individuals of high net worth complicated as there may not be a straightforward way of equitable division. Therefore, it is critical to consult a high-net-worth divorce attorney.
Your lawyer should be well connected with credible financial professionals knowledgeable in asset valuation. Assets such as jewelry, artwork, prized antiques, automobiles, and real estate can have monetary as well as sentimental value. Your legal counsel must establish a way of determining the ultimate value of such possessions to ensure that you and your spouse get fair shares. Complex asset division can make a matrimonial proceeding become aggressively contested by both sides. Emotions can overwhelm them preventing the separating spouses from thinking rationally. Therefore, the advocates involved should be reliable such that the couples can rely on them to identify and analyze the principal components of the proceedings.
Unlike other divorce cases, high-asset divorce demands unique skills and experience. Wealth preservation becomes harder with greater accumulation of wealth. The process requires strategic planning to save the couples time and money while causing minimal disruptions to their co-owned businesses. Having offshore accounts and property involves complex jurisdictional matters derailing the proceedings further. Other weighty issues may include reviewing prenuptial and postnuptial agreements, hiring a forensic accountant, minimizing income tax implications, estate planning, alimony, and child support.
Due to the complexity of high-asset divorce, couples should seek a lasting solution to avoid recurrence of disputes or dissatisfaction after separation. A skilled family law attorney is vital in guiding you through this cumbersome process. When significant properties are at stake, care in handling the underlying legal and financial matters is imperative. A competent lawyer examines your financial status and that of your spouse and uses the findings as the negotiation ground.
If you feel that your financial future is at stake due to a divorce in Colorado, contact a Denver high-asset divorce attorney immediately to preserve your wealth.