Most people in Colorado who decide to divorce are not in the “high asset” category. Therefore, their divorce will not have the same litany of issues as a divorce in which there are significant assets. But for people who are in the middle of a high asset divorce, there are multiple factors that must be considered as the process moves forward. These factors are not in place with a more modest divorce. It is imperative for people who are wealthy to have legal assistance from a law firm that understands the challenges presented by a high asset divorce.
For many couples who are engaged in a high asset divorce, the parting of the ways is simply a matter of growing apart and is done without acrimony. These cases will still have myriad factors that must be settled due to the nature of the finances. When there is disagreement or outright disputes over the couple ending their marriage, it can grow difficult, time consuming and costly. While negotiation and avoiding court can save time and money, being prepared for the worst-case scenario from the start is wise and that means having an experienced divorce attorney.
There are multiple factors in a high asset divorce that often come up. They include real estate, a business that both parties might believe they contributed to, retirement accounts, vehicles, jewelry, artwork and more. When there is a divorce in Colorado, the property is subject to equitable division. With marital property in a high asset situation, it can be difficult to discern how to allocate it as there is often commingling. Digging through the portfolio requires expertise and that comes from retaining a qualified law firm.
People who are ending their marriage and are concerned about a complex asset division should be proactive and get legal help from the start. Contacting an attorney who is fully aware of the difficult nature of a high asset divorce and is also well-versed in all areas of the dissolution of marriage is the first call that should be made.