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high-asset divorce Archives

Where to search for hidden assets during a high-asset divorce

Regardless of the level of wealth involved, dissolving a marriage can be stressful process. However, those who possess considerable wealth may face additional concerns during a high\-asset divorce, as they might have a great deal more at stake. One issue an individual in Colorado might want to consider is the possible presence of hidden assets, as these could have a significant impact on the outcome of a divorce should they remain undetected.

High-asset divorce: Social media and emotions may not mix well

When it comes to social media, many individuals in Colorado make use of this platform to provide content regarding a variety of life experiences. While one may wish to keep loved ones or followers informed on his or her day-to-day operations, certain situations may require some level of caution. For example, individuals who are going through a high\-asset divorce may find it advisable to take care with what they post, as the statements they make could have devastating consequences.

Safeguarding one's financial future during a high-asset divorce

Individuals in Colorado who are going through the end of a marriage may face difficult decisions that could have an impact on the rest of their lives. For those who possess considerable assets, taking steps to prepare for a high\-asset divorce could prove vital, as they may have a lot more at stake in the process. However, many may lack the necessary experience to handle a similar circumstance, and they might be uncertain where to turn for guidance.

Division of property in high-asset divorce can be complex

A marital breakup is one of the most challenging ordeals an individual can experience. This is especially true for those going through a high\-asset divorce. One area that may especially spark conflict is trying to figure out what happens to an inheritance.

A practical tip to protect against a high-asset divorce

For many wealthy Colorado families, the marriage of an adult child is a complex mix of joy and trepidation. A marriage brings about a level of risk, especially when it comes to marital wealth. Protecting against the damage that a high\-asset divorce can bring is a top priority, and rightfully so. Here's one approach that can relieve some of the tension brought about by the topic of prenups. 

Considering where to live after a high-asset divorce

For Colorado spouses who are preparing to divorce, living arrangements are often top-of-mind. After all, everyone needs a place to call home, and a high\-asset divorce almost always creates the need for at least one party to find new digs. It is important, however, to make wise decisions in choosing one's post-divorce abode. This is a decision that will have lasting ramifications, which is why Colorado spouses should tread carefully. 

Length of marriage and high-asset divorce

A prenuptial agreement is part of many marriages involving considerable wealth. For some Colorado couples, negotiating a prenup can pose a challenge. That is especially true in cases where one party has far more wealth than the other. Very often, a length-of-marriage clause can address the concerns of both parties. It allows for a fair and balanced approach in the event that a high\-asset divorce takes place.

Evaluating advice during a high-asset divorce

Getting advice from friends and family can be invaluable in many areas of life. Finding a dentist, choosing a vacation destination or planning a birthday party are all areas were advice can make a world of difference. However, during a high\-asset divorce, advice from well-meaning parties can actually complicate matters and lead to unfavorable outcomes for Colorado spouses.

Tax changes could make high-asset divorce more expensive for some

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

Appeal filed in high-asset divorce case

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. 

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