Divorces are usually emotionally taxing and costly. However, if significant assets are at stake, divorces can be far more complicated and costlier. Here are five practical legal tips to help you get the most out of a high asset divorce in Denver:
Work with the right Lawyer
You need an experienced lawyer to protect your interests and assets. A reputable family law attorney in Denver can help you break down the complex legal issues involved, so you don’t make costly divorce mistakes.
Consider hiring a forensic accountant and financial expert
A forensic accountant can be especially useful if your spouse is trying to hide assets. It’s also wise to hire an accountant if your spouse is sophisticated financially or was the one managing the family business or money.
You should also consider involving a valuation expert. An experienced investment expert can be useful in situations where there are high-value, complex portfolios and valuable life insurance policies. The professional can also help to determine the cost of maintaining a spouse’s lifestyle objectively.
Don’t hide assets
It can be incredibly tempting to try and conceal some assets from a spouse who you feel betrayed you. However, hiding assets before a divorce can amount to a crime and you’re likely to get caught. If caught, the fraud may affect your credibility and get you into trouble. Don’t take such a huge risk. Instead, get a lawyer who can help you get the fairest settlement possible under Colorado law.
Keep court filings private
Divorce proceedings can publicly expose your sensitive information. Whenever a court allows, ask for your documents to be sealed. Only the court and legally involved parties can view sealed documents.
Consider tax consequences
Tax considerations are often a crucial component of a high-dollar marital estate. Make sure you understand the complex tax issues involved.
There are ways to get the most from divorce proceedings. Work with professionals who understand the uniquely complex legal and financial issues that characterize high-dollar estates.