Divorce is often an emotional and complicated process. However, if you are divorcing a high-net-worth business professional, such as a business executive, the divorce process can be much more complex, stressful, and, in some cases, contentious. You would think that having more assets to divide would make the financial portion of divorce easier. However,…
Businesses are assets that must be assessed during a Colorado divorce. Whether a business is a marital or separate asset depends on a few factors. If a spouse established the business before marriage or inherited it prior to the marriage, and the business has not grown in value, the company will be considered separate…
If you are considering divorce, you likely have questions about how your assets will be divided. The first thing to know is that Colorado follows the principles of equitable distribution in divorce. Assets acquired during the marriage are considered marital property. However, they won’t necessarily be split equally between the parties. Instead, they are…
Colorado recognizes both legal separation and divorce. Under Colorado Code Section 14-10-106, if either spouse requests that the court declare the couples are legally separated, rather than dissolving their marriage, the court will “grant the decree in that form unless the other party objects.” What this means in plain English is, if both parties…
Going through a divorce brings about significant changes for spouses but also profoundly impacts any children involved. Their well-being hinges on parents managing the emotional and psychological fallout that these familial shifts can bring. Given their potential vulnerability, it’s crucial to put in place protective measures that shield your kids from the stressors of…
A prenup or prenuptial agreement is a legal contract between two people before marriage. Prenups define each party’s property rights and outline the distribution of assets, income, and liabilities in the event of a divorce, separation, or death. There are many reasons couples choose to sign prenups. Whether you are contemplating marriage and are…
Alimony, or spousal support or maintenance, is a contentious topic in divorce. Spouses who reach an agreement on property division and child custody sometimes leave alimony for the court to resolve. This is understandable. From the standpoint of the person being asked to make the payments there is often both an emotional response as…
Business assets, like other marital assets, are subject to division or some other form of consideration in a Colorado divorce. It does not matter if those business interests are held solely by one spouse, by both spouses or by one party and other business associates. How business assets are treated varies on a case-by-case…
There are mistakes every spouse should work to avoid in a Colorado divorce. The difference for high-asset spouses is that seemingly simple mistakes can have lasting future ramifications. If you are anticipating a high-asset divorce or were recently served by your spouse, protect yourself and your assets. Read the following article about mistakes to…
Retirement accounts are typically counted as a marital asset in Colorado making them divisible in a divorce. However, when working with a skilled property division attorney in Denver, the method used to divide retirement accounts will depend upon their type and source of funding. There are measures you can take to protect your retirement…