1. In bowl, gently toss peach slices with Cointreau. Let sit for 30 minutes.
2. In bowl, combine Mascarpone with sugar, cinnamon, lemon zest and nutmeg. Set aside.
3. In heatproof bowl over a saucepan of simmering water, melt caramels with whipping cream. Stir until smooth. Stir in vanilla.
4. In non-stick skillet, heat butter over medium high heat. Add peaches and sauté just until heated through and lightly golden.
5. Arrange peaches over 4 dessert plates. Sprinkle with cheese mixture. Drizzle with hot caramel sauce. Serve immediately.