If you are considering a divorce, you are likely under a lot of stress. Managing an emotional and complicated situation like divorce puts a great deal of strain on anyone. Situations of high-net-worth divorce are much more complicated matters. High-asset divorces require more specialized care and work.
With higher assets comes a more complex system of requirements to make sure the process goes smoothly. Protecting your assets is fundamental to a high-net-worth divorce. Whether you have extensive real estate, large investments, a high income, or other forms of liabilities and assets, you want to know that those things are protected during the course of a separation or divorce.
The high-asset divorce attorneys at Johnson Law Group have the expert knowledge required to navigate a complicated high-net-worth divorce. With an individualized approach and our commitment to compassion we can help you work through the process of your high-net-worth divorce.
The expert attorneys at Johnson Law Group understand the complicated nature of a high-asset divorce. We can support you and defend your right to your resources. Cases with a high net worth often result in very strong emotions and even deception. Our Fort Collins divorce attorneys have the experience necessary to help you handle what can be a high stress situation with confidence and poise, while safeguarding your livelihood.
A high-net-worth divorce, or a high-asset divorce, is similar in many ways to a common divorce. However, when division of assets comes in, it begins to get complicated. First, there is much more in the balance in a high-net-worth divorce. In the State of Colorado, it is vital to understand what property and assets currently exist between both parties. First, we will take the time to determine what assets you each have separately, and then we will catalog the combined assets, at their values, of both parties. These assets could include:
While this isn’t a comprehensive list, it includes many of the assets that would be considered during a high-net-worth divorce. It’s important to keep in mind that hiding or concealing assets is illegal.
Colorado is an equitable property division state. This means that when two parties divorce, the courts will divide property on the basis of what is the most equitable for each party. Equitable doesn’t necessarily mean that the assets will be divided equally.
Once an agreement has been met about the division of property, then spousal maintenance can be determined. This is termed alimony in other states. Spousal support cannot be determined before the equitable division of assets. Spousal support is figured by different means in the event of a high-asset divorce.
The purpose of spousal support is to assist the lower income earner to maintain a standard of living after the divorce. In families with an income below a combined $240,000, spousal support is determined based on the basic needs being met of the lower income individuals. In cases of high-asset divorces, maintaining a lifestyle that they had during a marriage is the primary focus.
While you and the other party could determine things amicably, it’s important to understand the complications that may arise during a high-asset divorce. Because assets are often numerous and complex, having the support of a Fort Collins, Colorado attorney can be vital to maintaining an equitable division.
Having the advice and support of an experienced high-asset divorce lawyer can help you to protect your livelihood in these matters. Family law is a wide area of practice, but a high-asset divorce is a very specialized area. You may also have a prenuptial agreement in place that would need the attention of a skilled and experienced attorney to help maneuver what may be an exceptionally intricate circumstance.
While handling a high-asset divorce without an attorney is possible, it is not recommended. The sheer size of these cases requires a great attention to detail, and the knowledge necessary to navigate this complex condition.
A: Legal expenses can vary greatly depending upon the needs of each case. The average for divorce in Colorado is between $9800 and $14,500, however this number could be as low as $4500 and as high as $32,000, depending on the complexity. If there are no mutual children involved in a divorce, the costs are typically much lower.
A: The statement of net worth is a comprehensive and sworn statement of all the assets, incomes, properties, debts, and expenses of each party. This statement helps to determine how assets will be divided between the parties. All assets must be disclosed at this time, and if they are not, the offending spouse could see a penalty during the asset division.
A: While there are quite a few questions you could ask, one of the most important is about communication. Knowing whether to expect phone calls, in-person meetings, text messages, or emails is important as is knowing how long you might wait for a response. Asking about fees is another important item to sort out right away, so there are no surprises. You may also want their opinion about communicating with your spouse, and how you could prevent them from complicating the case further.
A: A family lawyer operates just like you think: they handle any matters that may relate to members of the family. Some of these situations include child custody, divorce, estates or wills, represent members in court, or handle prenuptial agreements. They can also act as negotiators in situations where family members cannot agree or settle without assistance.
If you are seeking a divorce, and your assets could create a complex situation, Johnson Law Group is the right choice for you. Handling cases of Fort Collins family law with success for many years, our team of highly skilled attorneys can manage your case with compassion and a pledge for excellence that you can trust. For your peace of mind, contact us today.