The signing of the Republican tax bill could mean a higher tax obligation for some Colorado spouses. One of the biggest changes is the elimination of the alimony tax deduction, which saves paying spouses a significant amount on their annual tax bill. Understanding how the change could affect your bottom line is important in a high\-asset divorce.
When people get divorced, there is typically a negotiation over how best to divide the marital property. While this often pertains to items such as your home in Denver, it also applies to other property you and your husband own. For example, if the two of you started a business together, then you will have to work out how best to divide it and your assets. Some of those assets might be in the form of intellectual property, such as a patent for an invention. Like all your other martial property, you, or a professional appraiser, will have to assign a value to the intellectual property.
Some Colorado readers are aware of the recent high profile divorce between the founder of Cancer Treatment Centers of America Richard Stephenson and his wife, Alicia Stephenson. The couple separated in 2009, but it wasn't until 2016 that their high\-asset divorce went before a court. At that time, the wife was awarded a $6.5 million single payment in addition to $55,000 per month in spousal support.
Statistics suggest that millennials in Colorado and other states are more likely to embrace prenuptial agreements than other groups. In particular, young women are beginning to seek these marital contracts in growing numbers. Researchers are trying to determine why this demographic is taking a different approach to marriage, divorce and property division than their parents and grandparents.
Many Colorado fans of Chris Pratt and Anna Farris were sad to learn of their separation earlier this year. Unfortunately, it appears as if a reconciliation is not in their future. Both have recently filed for divorce and reportedly many legal discussions are being discussed such as an agreement on child custody, addressing their prenuptial agreement and property division.