If you are an executive in the Denver area, you may be facing a unique set of challenges in your divorce case. Not only do you have to deal with the emotional stress of ending your marriage, but you also have to protect your high-asset lifestyle and make sure that you come out of the divorce with what is fair. Fortunately, there are experienced Denver divorce lawyers who can help you navigate these waters and protect your interests. If you need help, contact us today to schedule a consultation.
The Challenges of a Denver Divorce For Executives – and What a Lawyer Can Help With
No one gets married expecting to get divorced, but unfortunately, it happens. If you’re an executive in Denver, going through a divorce can be even more complicated. Here are some of the challenges you might face during a Denver divorce.
1. Identifying, Valuing and Dividing assets
One of the most difficult aspects of any divorce is asset division. This process can be even more complicated for executives because they likely have more assets—and more complex assets—than the average person. Executive compensation often includes not just stocks, but stock options, restricted stock units or other stock based compensation that may or may not be vested. As well, there may be bonuses, or other incentive plans. Before one could even consider how to value or divide such items, a preliminary determination has to be made as to what types of perks or awards even qualify to be classified as assets for divorce purposes. As well, it may be important to consider the tax implications of any potential division. After all, if the liquidation of an asset will trigger a tax liability, that is an important piece of information to consider in deciding what might be a fair division.
2. Child related issues
Another big issue in any divorce is the division of time with a child or children. If you are an executive with a busy schedule, it is important to make sure that any arrangement allows you sufficient time with your children. An experienced attorney can help you negotiate an arrangement that works for your unique circumstances and ensures that your rights as a parent are protected.
3. Maintenance (Alimony)
Spousal maintenance also known as alimony is another potential issue in a Denver divorce. If you have a high income, and your spouse has been out of the workforce or earns substantially less, you may be required to pay alimony to your ex-spouse after your divorce. An experienced attorney can help you understand Colorado’s laws and ensure that any maintenance payments you are required to make are reasonable given your unique circumstances.
4. Division of debt
Finally, another big issue in any divorce is division of debt. You’ll need to figure out who will be responsible for paying off which debts, and how much each person will owe. That determination can’t be made without also considering the other elements of the case. The amount of post-divorce debt payment a person can reasonably afford to take on must also be weighed against any maintenance and child support obligations also being assumed. It’s important to talk to a lawyer about your options if this is something you’re facing.
Why You Should Hire Hogan Omidi, PC
When it comes to building a strong legal team, it’s not just about finding the right lawyer. It’s about finding the right lawyers, paralegals, and support staff who work together seamlessly to give you the best possible chance of success. You want a team of lawyers who have the right experience to handle your case. That means lawyers who have successfully handled cases like yours in the past and who know the ins and outs of the law inside and out. You also want a team that is up to date on the latest changes in the law and knows how those changes might affect your case. Our partner literally wrote the book on Colorado family law that is relied upon by judges and other legal professionals throughout the state. Hogan Omidi, PC, has all that and more
If you need help, contact us today to schedule a consultation.