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?
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.
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.
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.
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?
Divorce can take a complicated turn for those who own a significant amount of real estate, especially if it is a ranch or other large tract of land with significant value. Here in the West, many families own hundreds of acres of land stretching out across America's majestic middle, and when divorce comes knocking, it's not as simple to divide up this type of asset as it might be to decide who keeps the family work truck.
Divorce is never easy. It is full of intricate details that you must address while going through an emotional time. Unfortunately, the legal and financial issues of your divorce will not wait for you. This is why it is important to have an experienced divorce attorney in your corner to help you protect your interests.