A divorce is difficult under any circumstances. It can be a long, arduous and emotional process that takes a toll on the whole family. If you and your spouse have highly valuable or complex assets, you’re looking at an even more challenging legal process. The best way to handle your complex or high-asset divorce case in Denver, Colorado is with assistance from an experienced Denver high net worth divorce attorney.
At Ciancio Ciancio Brown, P.C., our Denver high net worth divorce lawyers and professional staff bring varied experience to our family law practice. This expertise is particularly effective in handling high-asset divorce matters in Colorado, as our background in issues such as taxes and business valuation is instrumental in our ability to protect the interests of our clients.
Individuals in Denver choose us because we have a proven track record of acquiring the case results that our clients need. In all facets of law as a full-service law firm, we are proud to have a history of success. Most of our attorneys have an average of 20 years of legal experience each, while one of our founders, Attorney Gene Ciancio, has been practicing law since 1971.
Since the foundation of Ciancio Ciancio Brown, P.C., we’ve earned a positive reputation with bar associations, professional organizations and the Denver community by delivering unparalleled customer service and exceptional results. You can trust our Denver divorce lawyers to work relentlessly for you and your family to achieve your high-asset divorce goals.
Our attorneys are led by renowned family law attorney Cynthia L. Ciancio, who has handpicked our family law team to respond to the unique needs of our clients. Due to the wealth of experienced lawyers that can be found throughout our firm, we are able to handle most issues in-house; our firm’s attorneys have expertise in a variety of fields, including business law, taxation, corporate and securities law, estate planning, oil and gas, water law, and employment law.
When necessary to bolster the cases of our clients, we partner with trusted outside experts, including appraisers, business valuators and accountants.
When spouses own $1 million or more in assets and have diverse financial portfolios, multiple properties, and/or businesses and intellectual property, a divorce becomes a high net-worth divorce. With more assets to divide and a higher overall net worth, there’s more for each spouse to lose.
This very often results in a more contentious process as well as the need for extensive property valuation and investigation by financial forensics experts to ensure that each spouse retains their separate property and fairly divides their marital property and assets.
During the divorce process, both spouses must submit full financial disclosures. Each spouse’s attorney may request additional financial documents from the other during the discovery period. A divorcing couple’s assets are divided into their separate and marital assets. Spouses may retain their separate assets but must fairly divide their marital assets. In high net-worth divorces, this becomes a painstaking process due to the co-mingling of assets that commonly occurs during marriage.
Separate assets in high net-worth divorces often include some or all of the following:
Marital assets are those the spouses accumulated during the marriage and could include any of the following:
In high net-worth divorces, commingling commonly occurs, giving one spouse the right to claim portions of some of the other spouse’s separate assets. For example, if they invest time, money, or talent into improving one or more of the other spouse’s assets, they are entitled to a share of the increased value of those assets. Granting a spouse access to a bank or investment account also makes it comingled or joint property. This is why high net-worth divorces are challenging to navigate and require diligent attention to detail.
High-asset divorces often require different legal knowledge than a typical divorce or legal separation. When a couple has little to no marital property, they may not need an attorney, as they can generally agree on how to divide assets and debts (an uncontested divorce). When there is more on the line, however, a contested divorce is more likely. Oftentimes, the appointment of experts is required to value high-dollar assets, including:
Once a couple’s assets have been accurately valued, it is necessary to identify which are classified as community property and which are separate. Then, the couple must divide any shared interests, such as a jointly owned business or property. Finally, the couple should consider all tax liabilities involved in the division of high-dollar assets.
In general, a high-asset divorce is more expensive, takes longer, and has a larger impact on your future than a low-asset divorce. This is why it’s important to hire a Denver high net worth divorce lawyer to assist you with your high-asset or complex divorce case. A Denver high net worth divorce attorney from Ciancio Ciancio Brown, P.C. can guide you through each of these steps to make your divorce as simple and successful as possible.
In a divorce trial, the judge only has jurisdiction over your community property, assets and debts. A judge cannot touch your separate property. It is important to understand this distinction if you wish to protect your high-value assets in a divorce or legal separation.
By keeping your earnings and properties separate from your spouse – such as by not combining your accounts into a joint account – you have a better chance of keeping them in a divorce.
Community property, also known as marital property, is everything that you and your spouse acquire during the course of your marriage. It can include income, real estate, vehicles and other assets. It does not matter which spouse brought the income or assets into the marriage; once you’re married, you’re viewed as part of the same community – thus, everything you or your spouse earns while married is classified as community property.
Your separate property is anything that you or your spouse owned prior to marriage. It also refers to any gifts or inheritances given specifically to one spouse during the marriage. Separate property is kept by each owner, not shared between the couple, in a divorce.
If you are part of a high-asset marriage, it is natural to want to prevent your income and assets from going to your ex-spouse. This is something that a high net worth divorce lawyer can help you with, as a lawyer has all of the knowledge and experience to protect your assets.
Your lawyer can give you tips and advice on how to protect your high-value assets from being split with your ex as much as possible, such as:
Never try to hide high-value assets in a divorce case. If discovered, you could face serious penalties – including criminal charges and jail time.
Instead, entrust your case to a skilled and experienced high net worth divorce lawyer in Denver to protect your valuable assets and properties without risking your future. The attorneys at Ciancio Ciancio Brown, P.C. can handle even the most complex divorce case in Colorado with proven legal strategies.
Our Denver high net worth divorce attorney can answer your questions and guide you down the path toward an outcome that serves your interests. To learn more about the skilled representation and value we offer, contact us to schedule a case evaluation or call us at (303) 451-0300.
