Grey Divorce in Colorado: Navigating Divorce Later in Life
November 30, 2023READ THE POST
Divorce is never an easy process, and when high assets are involved, it can become even more complex and contentious. In Colorado, the equitable distribution of marital property is the norm.
When substantial assets such as businesses, investments, and real estate are part of the marital estate, valuing these complex assets becomes crucial. In this blog post, we’ll delve into the methods and experts involved in valuing complex assets during high-asset divorces in Colorado.
Valuing complex assets accurately is paramount in ensuring a fair distribution of marital property. In Colorado, marital property includes all assets acquired during the marriage, regardless of whose name they are in, and is subject to equitable distribution. When substantial assets are at stake, spouses may disagree on their value, leading to prolonged legal battles. This is where experts and established methods come into play.
For couples who own businesses, determining their value is often the most intricate part of the divorce process. Business valuation methods include:
Real Estate Appraisal
Real estate is another significant asset often subject to valuation. A licensed appraiser assesses the fair market value of properties based on factors like location, condition, size, and recent sales of similar properties in the area.
Investment Portfolio Valuation
Investments, such as stocks, bonds, and retirement accounts, require precise valuation. This is usually straightforward, as market values are readily available. However, valuing more complex investments like private equity holdings may require specialized expertise.
In high-asset divorces, it’s common for experts like forensic accountants, financial analysts, and business appraisers to provide expert witness testimony. Their role is to present their findings and opinions regarding the value of complex assets to the court, assisting in reaching a fair settlement.
Forensic accountants play a vital role in uncovering hidden assets, financial discrepancies, or irregularities that may affect asset valuation. They examine financial records meticulously and can testify as expert witnesses in court.
Business appraisers are experts in evaluating businesses. They assess financial statements, market conditions, and industry trends to determine a business’s worth. Their expertise is crucial when spouses are unable to agree on the value of a jointly-owned business.
Real Estate Appraisers
Real estate appraisers have the knowledge and skills to evaluate the value of properties accurately. They provide impartial assessments that are often used in property division negotiations.
Financial analysts can assist in valuing complex investments, analyzing market trends, and assessing the potential long-term value of assets like stocks, bonds, or mutual funds.
In Colorado’s high-asset divorces, accurately valuing complex assets is essential for achieving a fair and equitable distribution of marital property. With businesses, real estate, and various investments in the mix, the process can be challenging.
Expert professionals such as forensic accountants, business appraisers, real estate appraisers, and financial analysts are instrumental in providing objective valuations and expert witness testimony. Their expertise helps couples and the court arrive at a just settlement, ensuring that each spouse receives their fair share of the marital estate.
When facing a high asset divorce in Colorado, it’s crucial to seek legal counsel experienced in handling complex asset valuation to protect your interests and secure a fair outcome.
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.
Contact The Law Office of Andrew Bryant today for a free consultation concerning your criminal or family law case. You are just a click away from a top-rated and respected team with the experience and tenacity to ensure you get the best legal services offered in Colorado Springs – call or email now.