During a divorce, you must be careful to protect your assets. This is especially true for high asset divorces. Valuation and division of assets and property can be a challenging matter. That is why it’s important to have an experienced professional at your side to help you properly protect your assets. At Litvak Litvak Mehrtens and Carlton, we have 65 years of experience in divorce proceedings in the state of Colorado. More specifically, we know what it takes to protect you, your assets, and your rights.
Understanding Asset Protection
Asset protection is a means to protect and safeguard your wealth. High asset individuals may use asset protection techniques to limit their spouse’s access to their valuables in the event of a divorce.
Asset protection is not the same as hiding your assets. Concealment of assets is illegal and can result in serious consequences if caught. Instead, it is a component of financial planning that applies strategies to legally guard your wealth.
Effective asset protection begins before the divorce is even initiated. Some useful methods for protecting assets include the following:
- Accounts-Receivable Financing
- Asset Protection Trusts
- Family Limited Partnerships
- Judgement-Proof Asset Protection (Offshore Trusts)
Asset Protection Planning
To plan for asset protection means to think ahead. Asset protection planning works by creating a fully-developed financial plan that takes into account the individual’s entire situation. Some ways to go about this is to use insurance policies, estate planning instruments, state homestead protection laws, and business vehicles to navigate tricky legal areas.
The right asset protection planning can save your lifetime of wealth that you’ve accumulated. This includes your investments, savings, property, and future potential income. Good asset protection planning should make it difficult or even impossible for your spouse to take your assets in a divorce.
Why You Need Litvak Litvak Mehrtens and Carlton For Asset Protection During a Divorce
To properly protect your assets in case of a divorce, you need an experienced attorney on your side. Our skilled legal team at Litvak Litvak Mehrtens and Carlton will carefully value your assets and arrange them properly.
No matter how high your assets or how complex your estate, our attorneys will handle your case with the utmost care and attention. We are proficient in negotiation and litigation to ensure you receive the best possible outcome from your divorce.
If you have high assets, don’t wait around until it’s too late to do something. Make sure you have the proper asset protection in place ahead of time. If you have any other questions or concerns about asset protection, call us at 303-951-4506. You can also fill out our online intake form here.