Divorce can be a painful and complicated process no matter what your circumstances may be, but high net worth divorces are often even more complex. High net worth couples typically have a greater variety of assets, including international or out-of-state accounts and property, which means the divorce process is more likely to be contested or take much more time to resolve.
In the midst of this difficult time, an experienced high net worth divorce lawyer can help shoulder the burden and provide you with the support and knowledge you need to protect what’s yours. If you are considering filing for divorce, the Denver high asset divorce firm of Halligan LLC is here to help. We focus exclusively on family law, so we have the skills and resources needed to help clients get the best possible outcome in these kinds of sensitive cases.
At Halligan LLC, we pride ourselves on providing the personalized attention you deserve. We work hard to make sure clients have the timely information they need, plus we are always available to help answer any questions you have about your case.
To get the best possible outcome in a high net worth divorce, contact Halligan LLC right away. From our deep legal experience to our extensive network of professionals that specialize in issues common in high asset divorces, we have what it takes to tackle even the toughest cases. Call today at (720) 608-2361 or reach us online to set up a consultation and get on the road to recovery.
Dividing Assets in a High Net Worth Divorce
The process of trying to divide marital assets is typically one of the most controversial and emotional parts of a divorce. Not only can it severely impact each spouse’s lifestyle after the divorce, but it can also trigger painful or uncomfortable memories tied with these items and properties. If the couple isn’t able to agree on how assets should be divided, then they’ll have to rely on the court system to divide their property.
As with any Colorado divorce, a high asset divorce involves the equitable division of the marital estate. This typically includes any assets or debts that were acquired during the marriage – from residential homes to jewelry to investments – but high net worth divorces might also involve complicating circumstances.
For example, if one spouse received an inheritance or gift in their name before or even during the marriage, the court would usually consider this as separate property that would not be subject to division. However, if the spouse who received the inheritance deposited the money in a joint account or if both spouses used the inheritance in some other way, then the court might count this as marital property.
Similarly, all or some of one spouse’s retirement assets might be vulnerable to division, even if the retirement account started before they got married. If the asset increased in value during the marriage, then the other spouse might be able to claim a share of these benefits.
Child Support and Custody Arrangements
The main priority for the court in deciding child support and custody arrangements is ensuring the best interest of the children. With high net worth divorces, this does not mean that the richer spouse will automatically get the kids.
Courts consider a number of issues in determining where the children will live, visitation rights, and how much money each parent must contribute to care for the children.
What If I Signed a Prenup?
In many high net worth divorces, one spouse enters the marriage with much higher assets than their partner. In these cases, they might ask their spouse to sign a prenuptial agreement before the marriage to protect their assets.
Spouses that sign a prenup might think that it will be impossible for them to access certain assets, but this isn’t necessarily true. A judge will need to review the document to verify that it’s valid, and in some instances, these agreements are not legally binding.
If the prenup involved some sort of fraud, such as if one spouse hid some of their assets or forced the other spouse to sign the agreement, then the court might decide it’s inadmissible in the divorce proceeding.
Contact Us Today
If you’re considering a high net worth divorce, it’s critical to work with a lawyer who focuses on the issues unique to these types of legal proceedings. At Halligan LLC, we have the specific skills and resources to help you fight for your rights and get the best possible outcome for your case.
Our high asset divorce team will provide you with the personal attention you deserve and give you the tools you need to make the best decisions for you and your family. To get started on the road to recovery, contact Halligan, LLC today at (720) 608-2361 or online to schedule your initial consultation.