Denver High Net Worth Divorce Lawyer

Experienced Denver, CO High Net Worth Divorce Attorney

Divorce is complicated no matter what your situation may be. There are significant emotional stressors that come with this process, and many people have a difficult time as they adjust to their new family dynamic. Even the most amicable divorces involve a bit of stress and anxiety, particularly when spouses have high incomes or valuable assets. Luckily, a Denver high net worth divorce attorney can help simplify matters.

When you have a significant amount of assets, this complexity increases. You and your spouse have much more to consider, and it’s easier for things to get complicated. Whether your assets are in real estate, business investments, trusts, stocks, or elsewhere, you should expect a lengthy process as you get divorced.

Fortunately, there are ways to make this process easier for you and your family. Hiring an experienced family law attorney is absolutely essential in the event of a high net worth divorce. It’s extremely easy to be taken advantage of when you have significant assets, so it’s of the utmost importance that you have qualified, experienced legal counsel.

Hire a High Net Worth Divorce Attorney

When it comes to family law, no firm in the area knows more than our team at Kinnett & Cordes. We have decades of combined experience in the field, which gives you a distinct advantage in the courtroom. No matter what your situation may be, we’ve seen it before and have the tools to pursue your case efficiently and effectively. No case is intimidating to our team.

We understand just how much is at stake during a high net worth divorce. This is why you can rely on our team to provide high-quality legal counsel to you during this time. Though we have extensive experience, we always personalize our advice to the individual to ensure you have the best chance of winning your case. We will work to protect your hard-earned assets; you can count on us to work diligently for what is fair and in your favor.

What Is a High Net Worth Divorce?

In 2023, Colorado had a divorce rate of 2.8 per 100,000 residents, many of which included high net worth individuals. To put it simply, a high net worth divorce involves a marriage dissolution in which the couple has assets with a capital value. This does not simply apply to cash or savings. Assets include property, investments, businesses, luxury items, retirement funds, inheritances, trusts, etc.

These divorces are complicated because the assets still need to be divided fairly between the couple. Unlike couples with modest savings and one property, there are several items to divide in a high net worth divorce. Property division laws are already complicated, but going through the process with many different assets is even more involved.

In many cases, high net worth divorces involve a prenuptial agreement. Prenups are common in couples who have significant assets alone and even more wealth together. Though prenups may make some aspects of the divorce easier, they do not always cover assets obtained during the marriage. This means that in these situations the law must make the distinction between the assets that must remain separate and the assets that need to be divided. This process can take a significant amount of time and effort.

Why Do I Need a Denver High Net Worth Divorce Attorney?

Navigating a divorce of any kind without legal representation is a significant undertaking. It’s easy to be taken advantage of and lose out on assets that are rightfully yours. With a high net worth divorce, this is particularly true. Whether you’ve earned your assets on your own or with the help of your partner, you can easily lose a lot of what you’ve accumulated. Without legal help, you may need to downgrade your lifestyle and let go of things that are important to you.

Hiding Assets

Some people try to hide assets during a high net worth divorce, which is unwise and illegal. Though they believe that this will allow them to keep their property, it often results in extra penalties when the court inevitably finds out about the asset in question. In many situations, spouses who hide assets end up with less in the divorce settlement.

The right course of action is to fully disclose your assets to the court right away. This gives you the best chance of receiving a proper settlement and a fair portion of your shared assets.

Spousal Support

Spousal support, or maintenance, can happen in nearly any marriage, but it’s much more common in high net worth divorces. This is because, more often than not, one spouse is a high earner while the other stays home. Even in situations where both spouses work, one usually makes the lion’s share of the income. This means that spousal support will likely be part of your divorce settlement.

Spousal support is a system in which a high-earning spouse pays a lower-earning spouse compensation following a divorce. This compensation is intended to help the latter get back on their feet and establish a new life. Because the low-earning spouse had counted on the income of the other indefinitely, the spousal support makes up for the fact that they no longer have access to that money.

These payments do not last forever, in most cases. Usually, the payments end after a predetermined amount of time. They may also end if the receiving spouse remarries or gets a job that pays comparably to the income of the paying spouse.

It’s important to have a Denver high net worth divorce lawyer when negotiating spousal support, regardless of whether you’re the paying or receiving spouse. You must create an agreement that is fair so that you aren’t being taken advantage of.

How Prenuptial and Marital Agreements Affect Property Division

A valid prenuptial or marital agreement can determine how many assets and debts will be handled during a high net worth divorce. The agreement may identify separate property, establish ownership rights in a business, or explain how real estate, investment accounts, retirement funds, and other property will be divided. It may also address whether one spouse is entitled to appreciation or income generated by the other spouse’s separate assets.

However, the existence of an agreement does not eliminate every potential dispute. One spouse may challenge its validity by claiming the agreement was not voluntary or that complete financial information was not provided before signing. Questions may also arise when the agreement contains unclear terms or does not address specific assets acquired later in the marriage.

How Kinnett & Cordes Helps Clients Divide Assets in High Net Worth Divorces

High net worth divorce cases often involve assets that are difficult to identify, value, and divide. Kinnett & Cordes carefully reviews financial records, ownership documents, and marital agreements to determine which property is marital or separate. We assist clients with assets such as:

• Closely held business and professional practices. Medical, dental, and legal practices may contain substantial value beyond their physical property. We examine ownership interests, earnings, goodwill, debts, and tax records to help establish an accurate value. We also seek solutions that protect the business’s continued operation.
• Retirement accounts. We address 401(k)s, pensions, IRAs, and other retirement benefits while accounting for contributions made before and during marriage. When required, we help prepare a qualified domestic relations order so certain employer-sponsored benefits can be divided without creating avoidable tax consequences. In 2022, 3% of American families had some type of retirement account.
• Executive compensation. Stock options, restricted stock units, bonuses, and deferred compensation may not become payable until after the divorce. We evaluate when these benefits were earned, their vesting conditions, and whether any portion should be treated as marital property.
• Real estate. Primary residences, vacation homes, commercial property, and rental portfolios require reliable valuations. Our attorneys help clients consider equity, mortgages, rental income, taxes, and whether a property should be sold, transferred, or offset with other assets.
• Trusts and inheritances. Although inherited property and some trust interests may remain separate, commingling or using those funds for marital purposes can complicate their classification. We trace assets and examine trust terms, distributions, and changes in value.
• Unique and specialized assets. Cryptocurrency, fine art, collectibles, and Colorado mineral, oil, gas, and water rights can be difficult to locate or value. We investigate ownership and income-producing potential, so these assets are included in settlement discussions when appropriate.

Kinnett & Cordes develops a division strategy based on each client’s financial circumstances, long-term priorities, and Colorado’s high net worth divorce laws.

Denver High Net Worth Divorce Attorney | Asset Lawyer

If you and your spouse are considering divorce but have significant assets, it’s important to hire representation from our team at Kinnett & Cordes. With our focus on family law, we understand the pressures associated with high net worth divorces. An asset lawyer from our firm can help make the process move smoothly and make sure that your assets are divided. We can work diligently in your case and advocate tirelessly for you in Court.

For more information about how we can benefit from your high net worth divorce, contact us today to hire a high net worth divorce attorney.