Protecting You In Your High-Asset Divorce
At Wick & Trautwein, LLC, our attorneys have decades of experience dealing with issues such as valuation of businesses, division of pensions, sale of jewelry and real estate, and asset tracing. We work with forensic accountants, appraisers and other experts to ensure that marital property is valued accurately and divided equitably. With offices conveniently located in Fort Collins and Windsor, we represent individuals and families throughout northern Colorado and southern Wyoming.
The Law Of Equitable Distribution
Colorado and Wyoming recognize two types of property:
- Separate property includes the assets and debts acquired by one of the parties before the marriage or by inheritance or gift during the marriage.
- Marital property includes all other assets acquired by the parties during the marriage.
Separate property is yours to keep — at least in theory. Some assets may include a mix of marital and separate property. An example would be a home that was owned by one spouse before the marriage, but which includes marital property contributions during the marriage. In some cases, separate property may be converted into marital property through retitling or commingling. Asset tracing may be needed to determine if an asset is separate or marital property.
Marital property is subject to division in an equitable manner during the divorce. However, equitable might not mean 50-50. Equitable means what a judge believes to be fair under the circumstances, and a judge could decide that something other than an equal split is justified. It is therefore important to have a knowledgeable and experienced attorney advocating on your behalf when these types of complex property division issues come into play. The following are examples of property often involved in these types of disputes:
- Real estate
- Pensions and 401(k)s
- Vacation homes
- Rental property
- Professional degrees
- Professional practices
Our family law attorneys have decades of experience dealing with valuation and other issues involved in making property division determinations with these types of assets. For instance, tax considerations are pervasive in practically all aspects of our lives, and divorce is no exception. Our lawyers often work closely with a client’s accountant or other professionals to determine the proper valuation of marital assets and to coordinate the other tax and financial consequences of a settlement agreement.
Do Not Make Any Decisions Before Talking With Us
You need to make sure you know exactly what will happen based upon the choices that you are making at this time. To talk to our attorneys about your case, call 970-237-5694 (866-686-1410 toll free) or fill out the contact form on this website.