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Denver Family Law Blog

Divorce mediation: Know the process

If you finally decide that your marriage is no longer working, you'll want to learn more about the divorce process. For many, this can mean a focus on mediation to start.

There are several benefits of mediation, when compared to litigation, including the ability to make your way through the process without spending as much money. Even better is the fact that mediation is often more time-efficient, which is something that almost everyone is looking for during this difficult period of their life.

When it comes to the house, get an accurate valuation

For most couples, the house is one of the most high-value assets they own. Whether it is your main residence in Denver or vacation property you own in Aspen, you are going to have to make some major decisions on how to deal with real estate if you are planning to divorce. For example, you will have to decide if the two of you should sell the house and split the proceeds or if one of you will keep it and give up other assets of equal value.

In order to determine the value of the real estate you own, you can generally pick from one of three different processes. The following are the most common avenues for home valuation for people who choose to divorce.

Do courts seal divorce records?

When a couple chooses to divorce, especially when the divorce involves significant assets or standing in the community, keeping the matter private is both crucial and complicated. In general, family court documents are public records, meaning that whatever happens in the courtroom is available to anyone who wants to review those public records to find it.

However, it is sometimes possible to compel the court to seal records and keep the process private, either in whole or in part. If you believe that privacy is important in your divorce, be sure to consider the steps you can take to seal your divorce's court documents and keep your private matters just that -- private.

Do you need to divide farm or ranch assets in a divorce?

Imagine you and your spouse own a ranch or farm together. Now imagine that members from both of your extended families tend to the estate, taking care of farming tasks, managing the livestock and so forth. Now imagine that you and your wife want to get a divorce.

When a couple owns a farm or ranch together, it will complicate the asset division process. These proceedings are particularly unique because the property considerations are different from the usual divorce. As such, they require a unique approach.

Honest spouses gain the upper hand in divorce proceedings

Colorado law dictates that spouses must honestly report all of their assets, debts, expenses and income during divorce proceedings. However, it's very tempting for a spouse to squirrel a little bit -- or even a lot -- of cash away that they don't reveal during divorce proceedings.

The cash hiding could go unnoticed and the dishonest spouse might even get away with it. However, if the other spouse is careful and diligent to hunt down all hidden assets, the dishonest spouse could pay the price in a very big way.

Tips to protect your assets from divorce

Imagine spending years building your wealth, investing in real estate in Denver, Aspen, and other places around the state and country. In addition, you have worked hard to create a strong stock portfolio and maybe even built a company from the ground up. Now, you are on the verge of divorce and you are worried about how it will affect your assets.

Asset protection is a major concern of most people who are contemplating divorce. One of the keys to protecting your assets is planning. The following tips can help you get through your divorce without becoming destitute in the process.

Keeping your high-asset divorce private

Divorce is never simple, regardless of who the spouses are or what issues the divorce entails. However, for couples with significant assets, divorce is far more complicated. Not only do these spouses face the difficulty of the divorce itself, they must consider ways to keep their divorce a private matter. As anyone who's gone through this type of ordeal before can tell you, high-asset divorces are always at risk of turning into high-profile controversies.

If you hope to keep your privacy intact throughout your high asset divorce, it is important to make this a priority from the start, for both spouses if possible. 

Knowing your lifestyle is important to your divorce case

Getting a divorce is hard enough without having to think about how it affects your future and lifestyle. As a divorcing woman, it's important that you take time to understand how your standard of living could be affected by divorce. If it's affected severely, it's possible for you to seek alimony and compensation to offset the changes.

Financial documents, known as financial affidavits, are extremely important when you're going through a divorce. These documents, when completed thoroughly, show your finances and the finances of your spouse together and separately. It shows your attorney your current lifestyle and the courts the lifestyle you wish to maintain.

Who gets the family home in a divorce?

The divorce process is full of twists and turns, all of which can cause quite a bit of stress if you don't know which steps to take and how to protect yourself.

While there is no definite way of knowing who will get the family home in a divorce, this is something you need to think about early on.

Is your spouse hiding assets during your divorce?

Getting divorced can bring out the worst in many people. It's an emotional time, full of internal turmoil. In some cases, this can result in bad behavior and questionable choices. If your former spouse feels spurned or angry, he or she may try to hide some assets from the courts in an attempt to create an unfair division of assets.

Divorce involves the division of all assets, from houses and vacation homes to retirement accounts and valuables, such as furniture or fine art. The greater the overall value of your household, the more complicated the asset division process may become.

McGuane and Hogan, P.C.
3773 Cherry Creek North Drive Suite 950
Denver, CO 80209

Toll Free: 800-574-3771
Phone: 303-691-9600
Fax: 303-691-9900
Denver Family Law Office

Aspen Office
215 South Monarch Street
Aspen, CO 81611

Toll Free: 800-574-3771
Phone: 970-920-7878
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