Divorce is not only an emotional burden; it's also a financial one. Most Colorado spouses are used to the luxuries of a two-income household and, most likely, good credit. While former spouses are trying to get their lives on track, they may find that most lending institutions require two incomes to get approved for a mortgage. Here are ways to get approved for a mortgage after a divorce.
High-asset divorce needs solid legal representation in Colorado
When couples in Colorado decide to go their separate ways and end their marriage, they know that they will need to make a plan to divide their marital assets. For some couples, this can be more complicated, as they have a high net worth, often due to one spouse's -- or even both's -- high level of income. Here at Jolein A. Harro, PC, our team has a range of experience to draw upon in assisting families in this situation. Our team is committed to handling the matter fairly and with a mind to the facts surrounding the divorce.
Perks of legal separation in Colorado more than separate property
When people decide they no longer wish to live together, they may not be quite ready for the finality of divorce. Legal separation is a way for them to live apart while outlining in specific, legally-binding terms the financial parameters to which they will adhere. Whether they decide to reconcile or divorce, a legal separation in Colorado can detail separate property, how debt is divided and custody of children, if applicable. The financial benefits to legal separation over divorce make it the best choice for many people.
Same-sex couples may have difficulty divorcing
There have been great strides made in equal rights for the LGBT community over the course of the last decade. As a result, many states now allow same-sex couples to legally marry. However, many couples who decide to end a marriage are stuck in limbo if they live in a state that does not allow same-sex marriage. Those in Colorado who may have found themselves in a similar situation may have sympathy for those in such a situation.
Understanding factors in determining property division
Filing for divorce can be a difficult and often costly side effect of the decision to end a marriage. In many cases, Denver, Colorado, residents face the task of dividing up their assets. As a marital property state, Colorado couples can face a variety of concerns when it comes to property division. Many couples don't understand how that can have an impact on their life after divorce, so it is important that couples take into account the different factors courts may consider when deciding what equitable division of assets means.
