Proving Separate Property in a Divorce with Andy Baum | Episode 29

Understanding Separate Property and Tracing in Divorce with Andy BaumIn this episode of Divorce at Altitude, Ryan Kalamaya is joined by Andy Baum, a Certified Public Accountant specializing in forensic accounting and business valuation in high-net-worth divorce cases. Andy explains the complexities of tracing separate property and determining its value in divorce. He also compares the laws in Colorado and California, highlighting the challenges of establishing separate property in a divorce.Guest Information Andy Baum is a CPA at Harper Hofer & Associates, specializing in forensic accounting, business valuation, and litigation support in divorce cases. With extensive experience in high-net-worth divorces, Andy helps clients trace separate property and provides expert analysis on asset division.Episode OutlineIntroduction to Separate Property and Tracing Andy defines separate property and explains the process of tracing assets, emphasizing its importance in divorce cases.Colorado vs. California Laws Andy compares California’s well-defined rules for separate property with Colorado’s flexible approach. He discusses how the absence of clear guidance in Colorado can lead to complications in tracing separate property.Tracing in Action: Hypothetical Case Using the case of Eric and Melanie Wolf, Andy explains how separate property like stock portfolios and businesses is traced. He outlines how increases in value during the marriage can complicate the classification of property.Commingling of Assets Andy describes how commingling, such as mixing separate property with marital funds, complicates tracing and requires careful documentation to distinguish the original value.Loans, Real Estate, and Property Classification Andy explains the impact of loans on separate property, particularly when used as collateral for a marital asset like a home, and how these situations affect the asset’s classification.Stock Options and Tax Liabilities Ryan and Andy discuss stock options, including how they are treated in divorce cases, and the tax implications of separate property, especially when it’s used to pay for marital liabilities.What is Divorce at Altitude? Ryan Kalamaya and Amy Goscha provide tips and recommendations on issues related to divorce, separation, and co-parenting in Colorado. Ryan and Amy are the founding partners of an innovative and ambitious law firm, Kalamaya | Goscha, that pushes the boundaries to discover new frontiers in family law, personal injuries, and criminal defense in Colorado. To subscribe to Divorce at Altitude, click here and select your favorite podcast player. To subscribe to Kalamaya | Goscha's YouTube channel where many of the episodes will be posted as videos, click here.  If you have additional questions or would like to speak to one of our attorneys, give us a call at 970-429-5784 or email us at [email protected].************************************************************************DISCLAIMER: THE COMMENTARY AND OPINIONS ON THIS PODCAST IS FOR ENTERTAINMENT AND INFORMATIONAL PURPOSES AND NOT FOR THE PURPOSE OF PROVIDING LEGAL ADVICE. CONTACT AN ATTORNEY IN YOUR STATE OR AREA TO OBTAIN LEGAL ADVICE ON ANY OF THESE ISSUES.