Many times couples that are going through a divorce where there is a substantial net worth involved, one or both spouses will try to dissolve some of their assets that would otherwise be divided. When a spouse engages in the dissipation of assets by way of spending marital funds on an affair, the family court may take this behavior into account when deciding who gets what.
While some couples of high asset divorces have no problem identifying and dividing property, there are some cases where certain assets may not be known by one spouse or the other, until the discovery process of a divorce. For those of us not familiar with what discovery actually refers to, it is the exchange of financial and economic information between spouses and their attorneys. This financial disclosure between spouses and the court is an absolutely necessary step in the divorce process. Considering the financial impact a high asset divorce may have on spouses, full, honest and accurate disclosure during the discovery process is crucial.
We all want to trust the ones we love but unfortunately they might not always deserve it. If you suspect your spouse may be hiding assets in preparation for divorce, rest assured there are always ways to bring hidden assets into the light.
Any separation or divorce will impact a couple's finances; however, those with high assets may find those financial impacts magnified. High asset Colorado couples who are going through a separation or divorce will want to evaluate how their finances will be affected by their split and plan accordingly. The failure to do so can result in confusion and stress, and it can even be devastating for one or both parties involved.
Owning a business or starting your own business is an enterprising and difficult challenge that can be very rewarding not only for you personally, but for your family as well. The entrepreneurial spirit is in a lot of people, and when they go out to start their own business, they take great pride in getting it off the ground and making it successful.
When it comes to a divorce, any splitting spouse wants the divorce to go as well as it possibly could for them. They will have this picture in their head of how they are going to get all of the assets that they want (and, in their mind, deserve) and that every issue will go exactly as they plan it.
It's hard to talk about divorce and not talk about money and finances. These two subjects are inextricably tied, and when you go through a divorce, the topic of money, finances and assets will be incredibly important regardless of whether you and your soon-to-be-ex are amicable or not.