If your divorce is going to involve splitting considerable assets and debts -- particularly if it involves a complex financial portfolio, you may benefit from having a forensic accountant on your team to work with your attorney and financial advisor.
If your divorce involves the division of a significant number of assets, having a trusted financial advisor is just as essential as having an experienced family law attorney. However, too many people make the mistake of sticking with the same financial professionals they and their spouse have shared for years. That can be a big mistake. So can not having a financial advisor at all.
A previous post on this blog talked about how it can be difficult for Colorado residents going through a divorce or legal separation to put an accurate value on their investment real estate.
Many couples in the Denver, Colorado, area may make some extra income, or even support themselves, through rental property or investment real estate. Owning extra property can be helpful to a family in two respects. It can be a source of income, and it can also yield a return on the investment as housing prices increase.
Executives, professionals and other highly compensated employs who live in Broomfield or in other parts of the greater Boulder and Denver areas often get to enjoy various employee perks and benefits that often have a lot of monetary value. For instance, employees may be offered what are called stock options. As the name implies, a stock option gives the employee the choice, or option, to buy a certain number of shares of company stock for a certain price at a future date, oftentimes years down the road.
In every Colorado divorce, a determination must be made regarding how the couple's property is to be divided among the soon-to-be ex-spouses. In some cases, this can be a struggle between the two parties that must be settled by a judge. In other cases, the parties are able to agree to a division, either on their own or with the help of a neutral mediator or arbitrator.
Let’s face it: most stories about celebrity divorce are a lesson in what not to do. There’s something about being wealthy and in the public eye that tends to bring out the worst in former Hollywood couples, athletes and other celebrities. The divorces often end up derailing or dragging out due to petty feuds over financially insignificant property.