Family Law Attorneys in Littleton, CO
Whether amicable or contentious, family matters can be complicated to navigate, especially for high-net-worth couples. To avoid costly errors and ensure maximum protection of your rights and assets, it is recommended to talk with family law attorneys serving Littleton, CO as early as possible in the process.
At Griffiths Law PC, we work tirelessly to ensure you are positioned well for a favorable outcome and retain what is most important to you as you prepare to start a new chapter in your life. We’re here to listen and ready to help, even in complicated and contentious family law disputes.
Sophisticated Family Law Representation in Littleton, CO
Griffiths Law PC provides sophisticated, skilled, and compassionate representation and advocacy for family matters throughout Littleton. From the very start, our Colorado divorce attorneys listen to our clients’ needs so we can provide them with solutions that meet their specific circumstances. Our family law firm serving Littleton works diligently for you at every stage of your divorce, custody, alimony, or child support proceedings.
Navigating High-Asset Divorce: Protecting Your Business and Wealth
Couples who own businesses or who have inherited wealth generally have a high net worth and complex assets. When these spouses file for divorce, extra steps must be taken to determine value and to protect what one or both spouses have worked hard to build.
Valuation of Businesses and Practices
During divorces, professional practices and closely-held businesses must be evaluated to determine how much the practice or business is worth, so it can be considered when assets are divided. This is often done through appraisals and various calculation methods. Appraisers investigate every aspect of the business to trace its assets, examine cash flow, and assess tax implications, among other aspects.
A high-net-worth divorce lawyer in Colorado can also ensure funds are not being mismanaged or hidden.
Protecting Your High-Value Assets
To protect yourself, it is important to keep clear records that you can use to support your claim to your assets. As you are talking with your lawyer and financial professionals, you should consider all facets of what your business can mean for your divorce and future, and get clear on your goals for the outcome.
If you own a practice or business prior to marriage, consider a prenuptial or postnuptial agreement to protect your assets in case of divorce.
Strategic Property Division: Separate vs. Marital Assets in Colorado
When dividing assets, Colorado looks at what separate and marital property each spouse has when determining what is eligible for division.
- Marital property is acquired during a marriage and must be divided equitably during a divorce, per Colorado Statute 14-10-113.
- Separate property is often exempt from division because it was owned before the couple got married.
However, commingled assets or certain pre-marital business assets may be subject to division, so talk to a family law attorney in Littleton, CO first.
How Martial Assets Are Typically Divided
The presumption of marital property generally applies to most assets in a divorce, especially for couples who have been married for a long time. This means that most assets must be split up. At the beginning of divorce, both spouses must provide an inventoried list of all their assets, debts, incomes, and expenses, supported by financial statements, investment balances, salary information, and so on, to reinforce their accounts of their individual financial positions in the marriage.
How Our Family Lawyers Can Help
To ensure that your assets are properly protected, talk to a family law firm in Littleton to ensure all assets are properly documented and that you understand their rights. A family law attorney serving Littleton can also prepare you for what potential challenges you may encounter while dividing assets and what strategies we can apply to resolve them. Our team can also guide you through the applicable court forms for family cases and ensure all requirements and deadlines in your case are followed.
High-Conflict Custody and Parental Responsibilities
Parents are required to share parental and financial responsibilities after their divorce. This means that they must reach an agreement on custody, parenting time and decision making, and child support so all aspects are considered and outlined moving forward. The court must review these agreements to ensure that the child is safe and that their best interests are prioritized. Once approved by the court, these agreements are binding and can only be modified with court approval.
Oftentimes, couples disagree about how these different aspects should be divided between each parent, which can escalate into high-conflict situations. High-conflict custody battles may also be an extension of an already contentious divorce. In these situations, Griffiths Law PC focuses on protecting children and securing favorable outcomes by handling the communication and negotiations between both spouses. In some situations, it may be necessary for spouses to have minimal contact during and after a divorce.
Alimony and Spousal Maintenance for High-Earning Families
Alimony, also known as spousal maintenance, can provide financial support to help a spouse get back on their feet after a divorce. In high-earning families, one spouse may make more than the other, leaving the other spouse at a disadvantage financially. If approved by the court, alimony can help cover basic expenses while a spouse pursues education or finds gainful employment.
How Long Does Alimony Last?
The duration of spousal support can vary and is outlined alongside other terms within an alimony order. Spousal support may cover the duration of time it takes for an individual to become self-sufficient. It may also help soften the difference in lifestyles after a divorce, especially if one spouse’s career was prioritized over the other. A complex asset division attorney can help you determine your options for assistance or payments for spousal maintenance when you are part of a high-earning family.
How Alimony Decisions Are Made
When courts review alimony requests, they consider the financial circumstances of both spouses, their age and health, the length of the marriage, the need for additional education, and their ability to secure employment. For high-earning families, these cases are often reviewed based on their specific circumstances since these couples often exceed the standard income range used when formulating eligibility and payment amounts for spousal support.
The Griffiths Law Advantage: Decades of Award-Winning Advocacy
Griffiths Law PC is an award-winning firm that has extensive experience advocating for our clients across many types of family law cases. Our firm has received a variety of awards, including being rated by Super Lawyers as a top attorney.
Our deep knowledge of the law and extensive resources allow us to protect the rights and well-being of our clients and their children. Our reputation in and out of the courtroom precedes us and speaks to the advocacy we can provide for our clients.
Frequently Asked Questions About Family Law in Littleton, CO
How is a family business divided in a Colorado divorce?
A family business may be divided once its fair market value has been determined in a Littleton divorce. A complex asset division attorney in Littleton can investigate and appraise the business’s operations, income and expenses, assets and debts, time and financial investment into the company, and more.
With the resulting information, our family law firm in Littleton can help you determine if you should pursue a buyout, trade assets for the business, sell the business, or share ownership if the business is co-owned.
What happens if a spouse attempts to hide assets?
If a spouse attempts to hide assets in a divorce, they may face serious penalties for willful nondisclosure. Each spouse must provide a detailed and truthful accounting of their finances at the outset of a divorce so assets can be divided fairly.
When assets are hidden by a spouse, they may have to forfeit their rights to some of their assets, may have to pay fines or fees, or may even face criminal charges. Suzanne Griffiths uses her forensic accounting skills to uncover hidden assets in your divorce and protect you.
How does high net worth change the divorce process?
Couples who have high net worth often have a complex portfolio of assets that may include real estate, luxury items, stocks and other investments, business interests and intellectual property, and so much more.
Power dynamics may also be uneven in these cases, with one spouse earning significantly more than the other. A high net worth divorce lawyer in Colorado who is trained to handle these types of cases can determine the value of assets so they are fairly divided and can help protect your assets.
Can I protect my inheritance or pre-marital investments?
You may be able to protect your inheritance or pre-marital investments by ensuring you do not mix these assets or funds with marital ones. Once these resources have been pooled for purchases, debt repayment, or other benefits, you lose your right to solely retain these assets.
Once separate property has become marital property, it is eligible for division during a divorce. Consult a complex asset division attorney to gain a clearer understanding of your situation and options.
Contact Our Family Law Attorneys Serving Littleton, CO
Griffiths Law PC is ready to help you navigate your family law case, even the most complex of situations. Throughout your entire case, we provide clear strategies, communication, and counsel so you understand your rights, options, and what to expect. To learn more about what a family law attorney serving Littleton can do for you, contact our law firm to schedule a case evaluation.