Dividing the marital property in a high-asset Colorado divorce can be quite complex. Not every asset has an easily determined value, but that doesn’t mean it doesn’t need to be factored into the division of the divorcing couple’s assets.
Take, for example, a country club membership. It can have quite a high value, dependent upon its amenities, initiation and membership fees. Memberships in popular country clubs may enhance one’s social and professional opportunities that cannot be overlooked when assigning a dollar value to club memberships.
Who can retain the membership?
Unlike many other examples of marital property that can be assigned to either partner in the divorce, club memberships typically are owned by a single individual, whose spouse and offspring are associate or junior members only.
When a divorce occurs, it may not be possible for the associate member to retain the country club membership (or even to apply for their own membership at the same club). The parties would be bound by the terms the original member agreed to upon joining.
Leveraging that asset
The nonmember spouse can still leverage the value of the club membership, and its subsequent loss to them, to negotiate for another high-dollar asset like the ski-in condo in Vail or its equivalent. A major asset like a country club membership can also be used to offset debt liabilities for the member spouse.
You don’t want to leave money or assets on the negotiating table in your Colorado divorce. By strategizing carefully, you can fight for what you need to walk away whole from your former life and begin the next chapter.
