Broomfield High-Asset Divorce Attorney
Whether you initiated your divorce or your former spouse served you with papers, you deserve knowledgeable counsel – especially if you have significant assets to protect. At Danielsen Westhoff, PC, we serve clients in Broomfield and the surrounding metro area of Colorado who face divorces involving significant and complex assets.
Reach out to Danielsen Westhoff, PC, now at (720) 739-1770, or send us an online message to get started.
Why Choose Danielsen Westhoff, PC, for Your High-Asset Divorce?
We Handle All Aspects of High-Asset Divorces
Our divorce attorneys handle every aspect of high-asset divorces, including:
- Property valuation
- Business valuation
- Asset and debt division
- Business asset division
- Spousal support
- Stocks, bonds, and other benefits
- Retirement accounts
- Multiple real estate properties
We Offer Specialized Knowledge and Guidance
We explore your full range of legal options and explain them to you in detail, empowering you to make the best decisions for your future. Our team is easy to work with and always offers you a sympathetic ear during your challenges.
When you need guidance from Broomfield divorce lawyers, you can rely on us.
We are Trial-Ready
What gives us an advantage over others? Our family law team prepares every case as if it were destined for a trial. By using mediation or private negotiations, we often do not even have to set foot in a courtroom.
If we do, though, we have the evidence, strategy, and determination necessary for success.
We Shoulder Your Legal Fight Allowing You to Focus on Your Family
There is no controlling what your ex-spouse does. You can, however, control your own actions. In a time of such emotional chaos, our family lawyers help you take the high road. At the same time, we fight tenaciously to advance your best interests.
This grants you the opportunity to have stability in your family life as we shoulder the difficult, sometimes contentious, legal aspects of your divorce.
What is a High-Asset Divorce?
High-asset or high-net-worth divorces are those in which the liquid assets are valued at more than $1 million, excluding the primary residence. Assets in a high-asset divorce typically include:
- Business assets
- Investment accounts
- Retirement accounts
- Vacation and rental property
- Art and collectible
- And more
Every asset in a high-net-worth divorce must be accounted for, valued, and equitably divided between the spouses.
What Makes High-Asset Divorces Different?
High-asset divorces are more complicated than other divorces. There is much more to lose financially for both parties should any mistakes or missteps occur.
High-asset divorces typically require the assistance of business valuators, appraisers, and financial advisors in addition to experienced divorce counsel. This is due in part to potential tax consequences upon the sale and division of assets, businesses, and properties.
Special rules apply to spousal support and child support when incomes are outside of standard ranges.
Preparing for a High-Asset Divorce
It is vital to be prepared for a high-asset divorce. Speak with your financial advisor and gather all of your financial documents. Take inventory of your liabilities.
Important documents to gather include:
- Bank statements
- Investment records
- Tax returns
- Retirement statements
- Mortgage statements
- Profit and loss declarations
Before you speak with your attorney, write down any specific questions or potential goals for your divorce. This will help to direct your conversation and make your initial meeting more productive for both you and your attorney.
Colorado is an Equitable Division State
Colorado divides marital property equitably. An equitable division is not necessarily an equal split. It is meant to be a fair division between the spouses.
Marital property is all property and debt a couple acquires during their marriage. It generally excludes property held separately by the spouses.
Separate property may include:
- Gifts or inheritance given solely to one spouse
- Assets protected by a prenuptial agreement
- Property acquired prior to marriage
The court considers several factors when dividing marital property between the spouses such as:
- The contribution of each spouse to the acquisition of the marital property, including homemaking
- The value of the property set apart to each spouse
- The economic circumstances of each spouse at the time the division of property becomes effective
- Any increases or decreases in the value of the separate property of the spouse during the marriage
- The depletion of the separate property for marital purposes
Marital fault or wrongdoing in the marriage is not a consideration when dividing marital property.
Hiding Assets is a Crime
Spouses seeking a high-asset divorce must complete a sworn financial statement within 42 days of the divorce filing. The financial statement includes disclosures and an allowance for additional discovery by the other spouse to search for non-disclosed assets.
Hiding assets is a serious offense in Colorado. Spouses found guilty of hiding assets may be held in contempt of court, sentenced to jail time, and face other civil penalties.
Contact an Experienced High-Asset Divorce Attorney Today
High-asset divorce is complex, but at Danielsen Westhoff, PC, we do everything possible to make it go more smoothly for you. To learn more about how high-asset divorce changes the obstacles divorcing spouses face contact Danielsen Westhoff, PC, today.
You can reach Danielsen Westhoff, PC, in our Broomfield office by phone at (720) 739-1770 or through email.