High Asset Divorce Issues Attorney
in Denver, Colorado
Family Law Attorney for High Asset Divorce Cases in Littleton, Boulder, and Golden
While every divorce case will involve a variety of legal issues that will need to be addressed, situations where spouses own valuable assets or have a high net worth can become especially complicated. If either you or your soon to be ex-spouse earn a large income, if you own valuable assets together or separately, or if you or your ex is anticipating a large family inheritance, you will likely need to resolve multiple types of complex financial issues. To ensure that your rights will be protected and that you will be able to reach a satisfactory outcome to your case, you will need to work with an attorney who is experienced in these types of cases.
At Pesch Law Office PC, we offer compassionate, dedicated legal help to our clients as they navigate the divorce process. Attorney Susan Pesch has assisted with many high-net-worth divorce cases, and she can help you understand the issues that you will need to address and the best ways to reach an amicable settlement. With our team on your side, you can find solutions that will make sure you can provide for your ongoing needs and protect your family's financial future.
Legal and Financial Issues in a High Asset Divorce
After beginning the divorce process, you and your spouse will provide each other with Sworn Financial Statements (SFS). These statements will fully detail your individual incomes and expenses, as well as the assets you own together and separately and the debts you owe. It will also include assets and debts in your spouse's name that you need to learn more about. When gathering this information or determining the best ways to handle financial issues, you may want to work with accountants, appraisers, or other financial experts. If necessary, our team can help you connect with experts who can assist with your case. We will work cooperatively with these other professionals to review possible solutions that you and your spouse can agree with.
Complex High Asset Divorce?
We Are at Your Service.
During a high net worth divorce, you may need to address a variety of unique issues related to:
Asset and debt division - You may own a variety of different types of valuable assets, including multiple homes or vehicles or expensive items such as jewelry, designer clothing, or artwork. You may also need to address financial assets such as investment accounts, stock options, or executive benefits such as pensions or SEPs. Even if you or your spouse owned some assets separately before getting married, this property may have increased in value during your marriage, and those increases will be considered marital assets. Different types of property may need to be appraised to determine the actual value of these assets and ensure that the marital estate can be divided equitably.
Spousal support - Colorado law for spousal support is based initially on a formula used to calculate a maintenance obligation based on the income earned by both spouses. Then, certain statutory factors are applied to your case to determine if there is a financial need for a spousal support payment AND if there is the financial ability to pay spousal support.
Child support - Each parent is financially responsible for the care of their children. Child support guidelines are also based on a standard formula based upon gross incomes and the number of overnights allocated to each parent. The Court can approve a deviation to the guideline amount if warranted in your case based on the unique circumstances and needs.
Expected inheritances and existing family trusts - If you or your spouse are aware of an expected inheritance or a family trust in place, you will need to address how to handle assets that are held in trusts and the distributions received by a trust's beneficiaries.
Business valuation - If either spouse is a business owner, the ongoing business will need to be addressed when dividing marital property. By performing a business valuation, spouses can gain a full understanding of what a business is worth, including a review of historical financial data and established "goodwill." When considering how to allocate the value of a business asset in a divorce, an agreement can be reached for the spouses to maintain the business entity as business partners in the future, sell the business, or award the entire asset to one spouse and off-set its value to the other spouse with other marital assets. The options for an agreement are endless and are dependent on the goals of each party. It is possible to derive a possible WIN-WIN division.
Contact Us. Our Firm Handles High Asset Divorces in Arapahoe and Douglas Counties.
Pesch Law Office PC can provide you with legal advice as you address financial issues during your divorce. We will make sure you understand your rights, and we will help you create workable solutions that will protect your financial interests, allowing you to move forward successfully to the next stage of your life. To schedule a consultation, contact us. We assist with high net worth divorce cases in Denver, Douglas County, Littleton, Golden, Boulder County, Highlands Ranch, Arapahoe County, Weld County, Jefferson County, Boulder, Columbine, Broomfield County, and throughout the Denver metro area.