CO High Asset Divorce: Special Considerations

No matter who you are, divorce is a process that is painful as well as complicated. However, when you are coming from a marriage where there is a high number of assets, it can make a complicated situation even more complex – and potentially more emotional.

That’s why it’s important to think about all aspects of your divorce when you’re going through it, particularly in relation to your high asset divorce in Colorado. It’s likely you will need to steel yourself for a long and possibly contested divorce process when it includes a high number of assets.

Here’s what you need to think about when it comes to high net worth divorces in Colorado to help you protect your own interests.

Division of Assets in a High Asset Divorce

High asset divorces are different than divorces in which typical assets are divided, which means extra consideration must be taken. If you cannot agree with your spouse on how to divide these assets, then you have to rely on your attorney and the courts to do the work for you.

Just like with any type of divorce in Colorado, those involving high assets have the same goal: To equally divide the marital estate. This means the assets you possess as well as debts that were acquired during the marriage. It can include anything from owned real estate to investments to even jewelry that is worth a lot of money.

It’s vital to understand that dividing marital property should be equitable, which isn’t the same thing as equal. Equitable distribution involves not only understanding finances on behalf of both parties but also access to the valuation of all assets and debts.

Also, any property acquired before you were married or that was gifted or inherited during the marriage may be considered separate property. Separate property can become marital property in some cases depending on the actions of the parties.

What About Prenuptial Agreements?

It’s not unheard of in high asset divorces for one person to come into the marriage with a lot more assets than the other. In these cases, prenuptial agreements are par for the course to protect the assets of one of the partners.

If a prenup was signed in your marriage, then you or your spouse may think it’s unbreakable, but it’s important to understand that it doesn’t deny them access to every asset. There are actually some cases where these documents are not legally binding at all, so they are typically examined by a judge to see if they can apply in the divorce or not.

If the agreement involved fraud at all, such as the hiding of assets on behalf of one partner, then it could be considered inadmissible in the court proceedings. This is why it’s important to have an attorney experienced in high asset divorces and prenuptial agreements if you have such a contract that you believe applies to your divorce.

There are so many things to consider in a divorce, which make it a complicated process, especially if you and your spouse cannot agree. But when you throw in high assets, it makes it even more complex. You need an experienced attorney to help guide you through the process and find a resolution that makes both parties happy.


About the Author:

Andrew Bryant is a well-respected Colorado Springs criminal attorney who has been practicing in the area for years. A Colorado native, he returned to the home he loves after graduating from the University of Kentucky College of Law. Now, he uses the knowledge he gained as an El Paso County District Attorney to fight tirelessly for his clients’ rights. He is AV-Preeminent rated, has been recognized for his work by The National Trial Lawyers, and has been named to Best of the Springs lists by The Gazette for years.