Finances are often at the center of a Colorado high asset divorce. While that will often make for a contentious back and forth between the parties, the law can be taken for granted as a secondary issue. Now, with changes to the U.S. tax law set to go into effect at the start of the new year, those who have significant assets could have their circumstances impacted by the new law. With that, it is imperative to grasp how they can be affected and if there is anything that can be done about it. Having legal assistance is critical toward this end.
Colorado couples who have decided to end their marriage and move on will have a lot to consider during and even after the process. The divorce is difficult enough with issues in dispute such as the division of marital property, child support, visitation rights and the emotional impact of a marriage reaching its conclusion. When the case is over, there will be a decree finalizing the divorce. Understanding facts about the decree is important and the parties should not ignore it.
A Colorado divorce can be complicated and difficult regardless of the financial circumstances of the parties involved. The factors that lead up to the divorce can also vary based on the situation. But it can be useful to understand what problems are known to precipitate a divorce. Those who have financial security might think that money woes that might otherwise upend other marriages will not affect them. However, as new research shows, having money is often the impetus of a divorce. Having legal assistance with a law firm that understands the inherent concerns with a high asset divorce is an important part of a case.
Coloradans who have decided that their marriage is at its end will have a great deal to consider as the divorce process moves forward. Along with the emotional upheaval that inevitably accompanies a divorce, there are a litany of other issues that cannot be ignored. That includes children, support, asset division, marital property and much more.
It is especially true for Colorado high profile couples that end their marriage can be a complicated and costly matter. On a smaller scale, this is also a reality that people must face regardless of their financial circumstances. When a marriage is no longer working, the idea of divorce can be intimidating and worrisome. However, after children, financial matters are commonly the biggest problem that must be dealt with. Having a basic grasp over the financial sticking points in any divorce can help move the process forward and allow the couple to part ways with as little lingering bitterness as possible.
When a Colorado couple has reached the point when they can no longer remain together and would like to divorce, the emotional issues and other factors that have led to the dispute will often take precedence over practical matters such as when they should move forward with the proceeding. However, the timing of the when to file can be important, especially for couples with significant assets amid the new tax laws that went into effect at the beginning of the year. For people in this situation, understanding the best possible timing for the divorce can be key.
While ending a marriage should not be taken lightly, certain circumstances might make it more urgent to move forward with a case than at other times. This is especially true when it is a high asset divorce. Since those in Colorado with significant assets will want to ensure their property interests are protected, it is imperative for those who are thinking about a divorce to understand how the new tax plan might spur them to move forward with it more quickly.
Colorado couples who have one or both spouses being of significant means will often want to have a premarital agreement as a means of protection if the marriage does not last. The premarital agreement must adhere to the law when it is written and completed, otherwise it could be declared invalid. There are certain foundational requirements for a premarital agreement that should be considered when there is a divorce and the validity of the agreement is in dispute. Understanding the law when it comes to a premarital agreement is imperative.
People in Colorado who are in an unhappy marriage will often decide to move on from it and get a divorce. While it might seem like a simple process on the surface, there are certain issues that can be complicated and problematic. Such factors as the residency requirements, how long the couple must wait before they can divorce, if there are grounds that must be met to get a divorce, and if one party does not want to get a divorce are all part of the process. Understanding these points is a foundational aspect of getting divorced.
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.