When married couples break up, many issues tend to come to light – from property division to custody of the children. Divorcing couples with high net worth can add even more complications and challenges to their case.
In general, the term “high net worth” refers to a person whose property (besides their primary residence) and financial assets are valued at over $1,000,000. Disputes that come up frequently make this type of case contentious and longer to resolve. The more money, property, and assets that are included in a case, the harder it will be to settle such concerns as child support, alimony, and division of assets.
High net worth couples usually have significant marital assets that include:
- 401(k)s, IRAs, pensions, and other retirement accounts
- Real estate including marital and vacation homes
- Local and foreign business interests
- Art, antique, and jewelry collections
- Trusts and investments
- Hidden or undeclared assets
These types of assets can seriously complicate high net worth divorce proceedings and make the fair dividing of marital property a burdensome and time-consuming process.
High Net Worth Divorce Attorneys in Denver, CO
A divorce involving couples with a high net worth or high income can end in disaster if not handled correctly. With so much at risk, finding a competent Denver divorce lawyer at Goldman Law is vital to protect your rights and assets and to have your case resolved in the most favorable way possible.
At Goldman Law, LLC, we understand the difficulty and complexities that come with high-asset divorce cases in Colorado. Our lawyers have many years of experience helping clients with substantial marital assets to obtain a fair settlement throughout the divorce process.
Dividing Assets and Property
Colorado adopts the “equitable distribution of property” model wherein the court divides marital assets, trying to apportion property fairly between the parties. The court, therefore, attempts to divide property equitably, with neither side favored. This also means that the total value of all assets is not necessarily split in half.
The equitable distribution of high value assets and property is subject to dispute. Seasoned attorneys often apply different creative methods to divide property to reach an agreeable settlement. They will often employ the services of professionals who are highly respected in the industry. This tight network of experts can be called upon in cases that require:
- Private investigation
- Asset evaluation
- Forensic accounting
For instance, private investigators can help identify if a spouse is not earning an income and if support should be awarded to him or her. Forensic accountants can help expose hidden or undisclosed assets.
Separate property is not considered marital or community property and, as such, cannot be included in property distribution. Separate property is property acquired before the marriage or received as a gift or inheritance. In most cases, high net worth couples are allowed to retain possession of their own separate property.
If losing your assets is a major concern in your divorce, seek legal advice as soon as possible. Divorce lawyers at Goldman Law, LLC can investigate any the holdings of any couple and help you expose hidden assets if your spouse refuses to disclose them. We can assist you in determining whether a property is separate or community by means of precise valuations.
Properties with Financial and Sentimental Value
Assets and property that can have both financial and sentimental value include real estate, vintage and luxury cars, boats, jewelry, treasured antiques, or a prized art collection. The total value of these assets are determined by experienced lawyers who will make sure that their clients get their fair and equitable share.
High Net Worth Divorce Lawyers at Goldman Law, LLC
Divorces involving a significant number of assets must be handled with a high level of care and professionalism. At Goldman Law, LLC, we provide comprehensive legal representation that work toward obtaining a mutually favorable settlement concerning division of property, as well as spousal and child support.
When your case becomes more complicated and you cannot reach an acceptable resolution, Goldman Law, LLC will counsel you on your rights, recommend options, and help you in protecting your assets, or take legal action when needed.
Our team of well-established lawyers can help you sort out legal and financial issues throughout your divorce process. To find out how your rights can be protected, please call us at (303) 656-9529 or simply fill out our short online contact form here.