Unfortunately, when spouses go into business together, they can be so wrapped up in the excitement of the business that they often avoid thinking about or planning for the possibility of divorce. Dividing assets in a typical divorce can be challenging. However, determining what to do with a co-owned family business can be especially difficult because the business is both a financial asset and a job.
Determine the best strategy for your situation
Being a grandparent is often a great source of joy. You have all of the beautiful wonderment of a new child in your life, without the daily obligations of parenthood. Unfortunately, complex family situations can endanger the beautiful relationship you have with your grandchildren.
Whether the state believes that your child is no longer fit to parent or your child loses custody in a divorce, you may worry about whether you can have a continued relationship with the grandchildren that matter so much to you.
It is frightening and difficult to leave a physically, financially or emotionally abusive spouse. Statistically, abused partners are at their highest levels of risk in the two years after ending the relationship. Once you file for divorce, while you may be safer in your immediate surroundings, the statistical risk to you increases.
That doesn't mean you should stay with an abusive partner just to avoid the potential conflict of leaving. Instead, it means you should take steps as soon as possible to start ensuring your safety as you leave this abusive relationship behind and move on to something healthier in your future. Thankfully, the state of Colorado allows those experiencing domestic violence to seek protective orders that will create legal consequences for your ex if they harass you or hurt you.
When parents decide to divorce in Colorado, the biggest concern is usually what will happen with the children. Historically, parents have been willing to battle in court in the hopes of securing primary or sole custody. The Colorado court system, however, does not prefer sole custody arrangements except in extreme cases.
Generally speaking, they prefer to arrange for a more even allocation of parental rights and responsibilities during a divorce with minor children. In other words, Colorado courts prefer to establish shared custody arrangements, a situation which is also referred to as co-parenting. Understanding that this is beneficial for your children may help you embrace the idea that shared custody is the most likely resolution to your divorce proceedings.
Divorce often results in radical changes in many different areas of your life. The average person can expect their living situation to change, as well as their financial situation. Those are just the most common issues, but there are many other transitions and changes that often take place during and immediately after a divorce in Colorado.
With so much going on, people often overlook important considerations that are not officially part of the divorce process. Your estate plan is a perfect example. Far too many people simply overlook adjusting their estate plan during a divorce. They are so focused on the end of their marriage that they overlook this critical area where adjustments and changes should occur to reflect their new life situation.
Even if you think you are 100 percent prepared for divorce, you never know how you will feel as the days go by. Some people realize that divorce feels better than expected, as they are finally free from a marriage that was dragging them down for so long.
There are also people who think they'll be okay during the divorce process, just to find that it's taking a toll on them.
You and your spouse have two children under five years old. As you move toward divorce, you worry about the potential impact for the kids. How will it make them feel? How will they adjust?
You do not worry so much about losing the relationship yourself. You can deal with that. You just do not want the kids to suffer.
One of the key ways to have a successful relationship with the other parent of your children after you have separated is through a parenting plan. It is likely that you and your ex do not see eye to eye on all arrangements concerning your children. If you share custody, there might be minor disputes regarding who will pick up your child from soccer practice, who should help them with homework, and where they should stay on weeknights versus weekends.
While all of these minor conflicts are normal and natural in a coparent relationship, they can be successfully solved through the creation of a robust parenting plan.
If you've spent your life building up valuable assets, you probably have strong opinions about what happens to them after you die. After all, bequeathing those assets to loved ones, family and even charitable organizations can be a way to build a lasting legacy after you pass on. Unfortunately, even if you take the time to carefully plan your estate and create a last will, your family members and heirs can challenge your plan and drag your estate through probate court.
There's no reason why you simply have to accept that a will challenge could change your legacy. If you have reason to believe that your heirs or family members may fight over your assets or disagree with the terms of your will, you can take steps now to reduce that risk.
For many couples, their family home is the single biggest asset they've invested in over their adult lives. As much as a third of your monthly income may go directly to a mortgage payment. Even more may get spent to upgrade and beautify your living space. It's only natural, then, to worry about what will happen to it in a divorce. Educating and informing yourself about Colorado divorces can make your divorce easier on everyone involved.
Despite what you may have heard from other people, there's no absolute means of predicting how the courts will rule in a divorce. Colorado is a marital property state, meaning that the courts seek to fairly divide your marital assets between both spouses in a divorce. Generally speaking, that will include the home you purchased with your spouse.
Arrange a consultation with our lawyers to discuss your specific situation. Call 720-541-5873 or fill out our contact form.
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Littleton Office
13978 W. Bowles Ave. Suite 200
Littleton,
CO
80127
Phone:
720-541-5873
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Craig Office
11 W. Victory Way Unit 205
Craig,
CO
81625
Phone:
720-541-5873
Craig Law Office Map
Steamboat Springs Office
465 Anglers Drive
Suite 2D
Steamboat Springs,
CO
80487
Phone:
720-541-5873
Steamboat Springs Law Office Map
Grand Junction Office
1003 Main Street
Suite 200
Grand Junction,
Colorado
81501
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