If you’re preparing for a high asset divorce in Denver or the surrounding area, it’s vital that you understand the process and key points involved in this legal matter. At Stahly Mehrtens Miner LLC we understand the intricacies of the high asset divorce legal process and our experienced Denver high asset divorce attorneys can guide you through it. Get started today by scheduling a consultation with us. Call us at 303-797-2900 or contact us online.
What Makes High Asset Divorces Complex?
High asset divorces are complex legal matters because of the high worth of the assets and their diversity. There are also a number of other assets that may make these divorces complex. These issues include but are not limited to:
- Spousal support and maintenance
- Property division, including business valuation and division
- Potential tax implications
- Child custody (also known as the allotment of parental time and responsibility) and support
- Whether you can keep your affairs private
Property Division in Denver High Asset Divorce
High asset divorces start first with determining whether the property within the relationship is separate or marital. If there is a complex division of property, a Denver complex property division lawyer from Stahly Mehrtens Miner LLC can help.
If there is a premarital agreement involved, this can be somewhat easier for the mentioned assets. However, if there are assets that are unmentioned, it must be determined whether they are separate or marital.
If there is no prenuptial agreement, determining separate and marital assets can be more difficult. Business interests must also be considered as well. Even if the business is only in the name of one spouse, the contributions, including those considered nonmonetary, must be considered.
Colorado Revised Statutes use a legal concept known as equitable division. This doesn’t reference a clean split of half and half. It refers to what the Court believes is a just and equitable split of the assets between the spouses. Spouses also have the option of coming to a settlement agreement on their own regarding this matter as well.
Tax Implications in High Asset Divorces
Tax implications come as part of the package of a high asset divorce. While settlement is encouraged in a high asset divorce so that more of your assets can be preserved, the tax implications involved are often harsh without proper planning and an experienced attorney. During a high asset divorce, you and your Denver high asset divorce attorney must consider:
- How your change in tax filing status will impact you
- How liquidating your assets may cause you to face a capital gains tax
- Whether you or your spouse will claim the child tax credit each year if you have children
- How you will be impacted by the division of your retirement accounts and other retirement benefits
- Whether you will be impacted by the taxation of spousal support
Collaborative Divorce and Mediation
Collaborative divorce and mediation are integral parts of keeping your personal life private. Although divorce is a matter of public record, working with your spouse through mediation, you can first come to a settlement regarding all of the issues that must be addressed. Then, you both have the option of going through the collaborative divorce process to quietly and more privately handle the remainder of the process. A mediation attorney in Denver can help assist the parties in coming to an agreement surrounding the issues of their legal dispute.
Let Our Denver High Asset Divorce Attorney Help You
The team at Stahly Mehrtens Miner LLC understands that the divorce process can be complex when high assets are involved. Our Denver high asset divorce lawyers have the experience and knowledge to skillfully and smoothly guide you through the process and come to a fair agreement. Give us a call today at 303-797-2900 or contact us online to get started with a consultation.