Colorado Springs High Net Worth Divorce Attorney
What is a High Net Worth Divorce?
A high net worth divorce case or a high asset divorce case is a divorce case where the liquid assets under contention by both parties in the divorce are worth at least $1,000,000.
High Net Worth Divorce Can Be Complex
The assets in high net worth divorces can be in different forms including (but not limited to) properties, company shares and overseas assets. Given the value of the assets that are typically involved in high asset divorces, these cases tend to be more complex and difficult to resolve compared to conventional divorce cases.
The challenges that often arise in resolving high net worth divorce cases usually arise mostly because it is usually difficult to identify, value and distribute the assets under contention by the parties involved in the divorce. If you are going through a high asset divorce, it is important that you hire an experienced Colorado Springs divorce attorney who has dealt with similar divorce cases in the past.
Division Of Assets In A High Net Worth Divorce
Many divorce cases usually involve the distribution of properties earned through the life of a marriage by the feuding parties, high net worth divorces included. However, unlike traditional divorces, most high net worth divorce cases usually involve the division of assets that are substantial and varied in nature.
The assets in these cases also involve difficult tax considerations which further makes them harder to resolve. In most traditional divorce cases, you will rarely find offshore accounts, vacation properties, family-owned businesses and stock options being mentioned during the division of assets. However, you will be hard pressed to find a high asset divorce case where at least one of these issues do not arise.
Hiding Assets Can Complicate A Divorce
Experience suggests that many couples in high asset divorce cases tend to try and hide substantial assets from each other during divorce proceedings. Your attorney should be able to identify how the opposing party in your divorce case may try to hide or disguise marital assets as described above. Protect your rights to your assets by hiring an experienced and innovative divorce attorney.
Debt And Tax Considerations In High Net Worth Divorces
When it comes to divorces, debts should also be divided among both parties. Remember that when complex assets are involved, there are also likely to be complex debt issues. Though it may seem apparent that a specific debt belongs to one party in a divorce case, the other party may argue that the debt in question should be classified as a marital debt.
To avoid having to end up sharing questionable debts in a high asset divorce case, it is best to hire an experienced professional who can fairly distribute the debts accrued during your union with your partner.
Another great reason to have skilled legal representation during a high net worth divorce case is to get advice on how to handle the inevitable tax issues that will arise during the asset division process. An experienced professional can help you lower your overall tax burden through negotiation and proper planning.
Can You Protect Your Assets and Businesses from Involvement Divorce Proceedings?
Yes! In fact, there are many people who draft pre-nuptial agreements so as to protect their assets in case a divorce becomes imminent down the line. If you are already married, you can also enter into a post-nuptial agreement with your partner. A post-nuptial agreement functions the same way as a pre-nuptial agreement. Lastly, if you and your partner own a joint business enterprise, you can protect your assets by drafting and signing a shareholder agreement.
Hire The Best Divorce Attorney For A Complex Divorce
Remember that the circumstances surrounding every divorce tend to be unique. As such, you should always be ready to deal with your divorce case based on its circumstances at hand. However, one thing remains true – If you are represented by an experienced Colorado Springs divorce lawyer, you can always be confident that you will have the best representation available and that your interests will be fiercely and expertly protected!
I was very fortunate to have Mary as my attorney. Court is a hard enough place to be. Not only did Mary give me a 100% she also listened to me and that was important. Had a great out come. Thank you!