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Denver Divorce Law Blog

Ensuring fair asset division by properly pricing possessions

For most couples, the two most contentious issues in a divorce will be the division of property and debts, and any arrangements regarding child custody. People who otherwise behave ethically may do some questionable things during divorce out of a need for justice or revenge. Hiding assets to skew the asset division is a relatively common practice.

The courts require that you create an inventory of your possessions for your divorce proceedings. That can result in your spouse potentially hiding assets to avoid splitting them or reporting their substantial value. Sometimes, assets get hidden in a manner than makes them easy to track down and easy to put a price on. After all, a hidden savings account will have a definite cash value. Other assets, however, aren't always as simple to put an accurate price on.

Planning ahead can help you thrive after a gray divorce

The kids have moved out of the house, you are on the verge of retirement, and you are entering a new phase in your life. You might be wondering if that new life should or should not include your husband. You are not the only one that has questioned whether or not divorce should be on the table after more than 30 years of marriage. But, the idea of starting over after the age of 50 may seem terrifying.

Like with most major life choices, planning ahead is key if you decide to start the divorce process. By putting certain things in motion and preparing yourself emotionally and mentally, you will be able to thrive after a gray divorce.

Could mediation help make your Colorado divorce simpler?

You've spent much of your adult life married. You and your spouse own a home, have retirement accounts and devote much of your time to your minor children. However, issues have arisen that simply can't get resolved. You know that divorce is inevitable, because your marriage can't be saved. However, you're worried about the process of divorcing. How will the courts rule on important issues, like child custody and asset division? Will your children end up emotionally damaged by the divorce?

Instead of staying in an unhealthy marriage out of fear of divorce, you may want to consider divorce mediation. If you and your former spouse can still communicate with one another and are capable of compromise, mediation could be a faster and less damaging alternative to traditional divorce litigation.

Avoid commingling - Protect your separate property from divorce

Divorce comes with a slew of complicated questions you will have to answer and decisions you will have to make. What type of custody situation will benefit your children but still be manageable for both you and your future ex-husband? Which one of you will get the main residence in Denver? What happens to your retirement accounts?

Colorado, like most states, follows the principles of equitable distribution when it comes to dividing marital property. This means that if you allow a court to divide the marital party, it will do so in a way that it deems as fair. However, keep in mind that fair does not necessarily mean even. This treatment usually only applies to property that you acquired during the course of your marriage.

Retirement and divorce – this is what you should know

Divorcing later in life comes with its special set of complications, especially when you were planning on living off of the funds in your retirement accounts. You and your husband accumulated enough wealth that you did not have to be overly concerned about money. However, now that the two of you are headed toward divorce, you can't help but wonder if your divorce settlement will be enough for you to live on.

Your primary Denver residence, vacation home and other property will be part of the items you and your husband will have to divide. In addition, the retirement accounts and pension plans will also take a leading role in the settlement process. Dividing retirement accounts can be a very complicated process that includes tax issues and other issues that require specialized treatment. If you are planning to divorce, there are some key factors you should keep in mind when it comes to dividing retirement accounts and pensions.

Divorce and taxes – what you need to know

Divorce comes with all kinds of complications. You have to deal with dividing marital property, working out a custody schedule for the kids, find a new place to live and essentially start your life completely over. The other thing you may have to deal with is a large tax bill. Many couples fail to account for the tax consequences of how they treat and separate marital property.

Before you decide to sell the house in Denver or let your wife keep the lion's share of your investment accounts, you should find out the tax consequences that might occur due to your divorce settlement. In addition to your attorney, you should consider consulting your tax accountant and financial planner. Read further to find out more about taxes and divorce.

When all signs point to divorce

Have you been wondering if staying in your marriage is the right decision? Have you been recently thinking that divorce may be an option? During the course of a marriage, it is not uncommon to wonder if you made the correct choice when you got married or think about life free from marriage. Some couples are able to work through downturns in their relationships and come out stronger. However, there are other couples that find happiness and the lives they truly want by ending their marriages.

If you are considering divorce, there are certain signs that may be pointing directly toward filing a divorce petition in a Denver area court. Read further for big signs that often point to divorce.

Don’t forget to deduct those alimony payments!

As women rise in the workforce, become successful entrepreneurs, and begin to outpace their husbands in earnings, more and more are finding themselves having to make alimony payments. If you have been the main breadwinner during your marriage, you may find yourself in the same position. When you begin the divorce process, your spouse may demand alimony as part of the settlement. Or, if you find yourself in a Colorado divorce court, the judge may require that you make alimony payments.

While the thought of paying your soon-to-be-ex-husband alimony may leave a bad taste in your mouth, there is one major benefit to the arrangement. While your ex has to claim the alimony as taxable income on his tax return, you may be able to deduct those payments and lower your federal income tax liability.

3 things to know about adopting your stepchild

Now that you are happily married, you want to take the next step to connect your new family. You want to adopt your new wife's son. While adoptions can often be very complicated procedures, sometimes taking months or even years, adopting a stepchild is typically a much easier process. However, this does not mean it comes totally challenge-free. The main roadblock you might experience is a lack of consent from the boy's biological father.

If you are considering adopting your spouse's child, it is important to fully understand the legal process. An experienced family law attorney in the Denver area can help you through the process. Read further to find out more about adopting your stepchild.

Your prenup might be invalid

When you and your husband first met, you already had a successful medical practice. That is why, before the two of you married, you each signed a prenuptial agreement. Your intention was that if you got divorced, the agreement would protect your practice and your assets. Now that you and your husband have separated, you are worried that the court might decide your prenuptial agreement is invalid.

If you are considering divorce, it is important that you take steps to guard your interests. If you have a prenuptial agreement, you may want to ask a lawyer to review it and determine if it is valid. An experienced Denver area attorney with family law experience can answer your divorce questions and help you get through the process. Read further to find out more about what makes a prenuptial agreement invalid.

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