Eagle High Net Worth Divorce Attorney

Eagle High Net Worth Divorce Lawyer

Divorce can take a toll on everyone involved, and it can be difficult to predict how proceedings will unfold even in an amicable divorce. When you have a lot of assets to divide, the process can become complex and sometimes contentious. When you need a local Eagle high net worth divorce attorney, you can rely on the seasoned legal team at Kinnett & Cordes.

At Kinnett & Cordes, our divorce and asset lawyers provide legal guidance and support throughout every stage of your divorce. Our lawyers have honed skills in handling complex high net worth divorces. We are well-versed in Colorado high net worth divorce laws regarding property division and give our clients a distinct advantage in divorce negotiations.

Special Considerations for High Net Worth Divorce Cases in Eagle County

Statewide, Colorado has a divorce rate that ranges from 2.8 to 3.0 per 1000 people, with a median marriage duration of 17.9 years. You are not alone in going through this process, and we are here to help make it as smooth as possible.

Many divorces for high-net-worth couples involve prenuptial or postnuptial agreements. If the documents are valid, we can help speed up your divorce process and legally start life over again. If they don’t contain accurate financial details or are invalid for any reason, we can challenge them.

Some high net worth spouses have signed non-disclosure agreements (NDAs) to keep financial and divorce details private. Typically, NDAs are presented and signed before mediation or the collaborative process begins. The agreement must clearly define what is confidential. For example, a spouse may want to keep bank records, tax returns, business information, or social media content confidential during a divorce.

Spousal maintenance or alimony can have a significant impact on a spouse so that both can enjoy the high standard of living they had during the marriage. In Colorado, if a married couple’s combined income exceeds a certain threshold, the standard formulas to determine maintenance support no longer apply. When the court finalizes a divorce agreement, the judge has full discretion to evaluate the lifestyle and employability of each spouse to determine alimony.

Challenges of High Net Worth Divorce in Colorado

Common challenges that require special consideration for high net worth divorces that our experienced team can help with include:

• Privacy. Keeping asset values and holdings private helps protect personal and financial data.
• Tax liability. Selling or transferring assets frequently triggers automatic tax payments. Keep in mind that alimony is not tax-deductible by the payer and is not taxable to the recipient either.
• High-cost divorces. Some spouses with a considerable amount of wealth or assets opt for a case in public court rather than reach a respectable and fair settlement privately, which can drive up the overall cost of a divorce.
• Child support can be complicated for high-net-worth spouses going through a divorce. Medical expenses are shared, and a sliding scale helps determine child support values. Courts prioritize normalcy in the interests of a child and may focus on retaining the child’s previous high standard of living, including private schooling, a personal nanny, and vacation time.

Common Mistakes Made During a High Net Worth Divorce in Colorado

• Hiding assets or moving assets to offshore accounts. Resist the temptation to hide assets from your spouse during a divorce. Experienced divorce lawyers with financial skills can locate hidden assets.
• Ignoring tax implications. Remember to factor in capital gains taxes, tax rules for investment and retirement accounts. A skilled attorney can advise you on these crucial details.
• Asset valuation without input from a forensic accounting professional. Properly accounting for all assets and performing a fair valuation is crucial for a truly fair property division. Our team can employ the assistance of financial experts if necessary.
• Letting emotions or your ego make important decisions. Divorce is frequently an emotional roller coaster that often brings out frustrations, arguments, and conflict. An experienced attorney can help you avoid making decisions based on emotion.
• Running up credit cards or attempting to waste monetary funds. This can result in a judge penalizing that spouse in the settlement or assigning debts to the wasteful party.
• Forgetting to list intangible assets. Don’t forget about intangible assets like stock options, restricted stock units (RSUs), intellectual property, credit card points, and even frequent flyer miles. It all counts. Our team can help you consider all assets that are available for equitable division.

Cost-Effective High Net Worth Divorce Law Option in Colorado

Colorado does support the Uniform Collaborative Law Act. It lists the rules for the collaborative law process that can help spouses come to an agreement and avoid court. If you believe you and your spouse can reach an agreement on property division and child custody, if applicable, then consider using Colorado’s Uniform Collaborative Law Act (UCLA).

UCLA is a formal process that involves each spouse retaining a separate divorce lawyer to negotiate settlements. The incentive to settle includes significant cost savings, all conversations are confidential, and each spouse is screened for domestic violence.

The collaborative process offers a private, confidential, and customizable alternative to hashing out your divorce in court. The process allows spouses to utilize professionals with experience in forensic accounting, taxes, and finance to create specific agreements that cover all assets, including how to divide a family business.

It’s Time to Hire a High Net Worth Divorce Attorney

When facing the high stakes of a high net worth divorce, it is time to hire a local Eagle high net worth divorce lawyer from Kinnett & Cordes. Our team can help you and your spouse reach a divorce agreement in mediation, arbitration, or the collaborative process. If negotiations fail, then we can confidently represent you and your interests in court at the Eagle County Justice Center at 885 Chambers Avenue in Eagle.

An experienced, passionate, and aggressive divorce and asset lawyer from Kinnett & Cordes is the answer for pursuing the assets you want in a divorce.

Contact us today for help with your Eagle County high net worth divorce. When you have significant assets to divide, it is crucial to have legal support you can trust. We are here to support you through the divorce process and help you create a fresh start.