Imagine you own a ski lodge in Vail that you've enjoyed for years. It was the first luxury real estate purchase of your life. You bought it and paid it off well before you got married. Now, after 10 years of marriage, will you be able to keep the property after your divorce, or will your spouse get to take part of it?
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.
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.
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.
When you're in the process of obtaining a divorce, there are a lot of details to worry about. In fact, other than custody and visitation of children, the division of your assets is probably the most important issue you face. If you and your former spouse are going through a contentious divorce, that can make the asset division process much more difficult. What if your spouse is hiding assets? What if he or she is lying about the value of non-financial assets, such as fine art?
It's a dream come true, owning an Aspen mountain home. Every time you fasten on your skis at the doorstep and downhill over fresh powder to the ski lift, you pinch yourself to make sure it's real.