Dividing property in a Colorado divorce can be a complicated process, and when the divorcing couple is part of the super-rich, each spouse may need an experienced professional team of advisers. Dividing property of couples with high net worth assets can be a stressful task, but it need not be. Some celebrity divorce battles over property division, spousal support, child custody and more go on for months or even years while others manage to simplify the process.
Parental rights: Child custody issues in Colorado
Colorado marriages are likely no different than others -- one out of every two end in divorce. In some cases, the situation is simple and requires little to no court intervention. For others, especially those where couples have had children together, child custody issues and matters regarding the future of the family can necessitate a need for legal assistance.
Don't forget retirement accounts during property division
Financially responsible couples in Colorado tend to plan ahead for most major life events. Planning for retirement often involves establishing one or more retirement accounts at a young age, either through an employer or an outside account. However, handling these retirement accounts in the event of a divorce can be tricky. There are often penalties for withdrawing funds before retirement, making simply hacking retirement funds in two and doling out each half during property division a less than ideal approach.
Hiding assets during divorce can have severe consequences
The stakes can be especially high for Colorado divorcees who must deal with valuable assets . Accurate asset valuation is a must for ensuring that both parties in a high-asset divorce are treated fairly during the property division portion of proceedings. Failing to accurately report or account for all assets can lead to the inequitable division of property, as well as legal issues further down the line.
Parental responsibilities differ for families with disabled kids
After a nearly 60 years of research and data collection, researchers at the Waisman Center finally released their findings concerning divorce rates for parents of disabled children. The study also included a separate focus on parents of otherwise developmentally normal children and their possibility of divorce. The intention was to test whether the assumption that having a child with a disability would lead to higher chance of divorce. While the reasons behind a divorce will vary from couple to couple, Colorado parents will still have to address parental responsibilities in the child custody of agreement whether their child was born with or without a disability.
