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.
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.
If you are thinking about divorce, you may be worried about how splitting from your husband will affect the property you acquired both before and during the marriage. You may be particularly concerned about a large inheritance you received when your parents passed away. Will your husband be entitled to any part of the money or real estate your parents left you?
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.