Most people in Colorado are familiar with the concept of asset division during a divorce. Once it is determined which assets are separate property and which are marital, the assets are then divided according to whatever is most fair. Unfortunately, in a high asset divorce, the chance of one spouse attempting to hide assets is not uncommon.
It is not uncommon for couples who experience marital problems to choose to spend time apart to evaluate their feelings rather than to rush into a divorce. However, one spouse moving out and living apart does not make a separation legal, and separate property will not be protected. There are legal requirements, and couples may want to draw up a separation agreement to present to the Colorado court for signature and legalizing the separation.
Most parents would likely agree that all they really want is what is best for their child. When a couple divorces, what exactly is in a child's best interest may become much more complicated. Determining custody can sometimes be addressed relatively easily, while in other instances, parents may have very different ideas about what will benefit their child the most.
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.
Married couples in Colorado may decide they no longer wish to live together for a variety of reasons. For some of them, divorce may be out of the question, or perhaps they are uncertain whether they want to divorce. However, living apart could mean that they still have to contend with issues such as child custody or property division. For these couples, legal separation may be their best option, but many people are unaware of precisely what it means and how it could help them.
When parents make the decision to divorce, they know they will have to make decisions on custody and visitation for their young children. What some parents here in Colorado may not think of is how they will determine who pays for certain expenses in their children's futures. For instance, they may not consider who will pay for their college educations and how that will be accomplished. Experts have recommendations on how to navigate this and determine the parental responsibilities of each person involved.
The dawning of a new year often means that people will make new year's resolutions. Many are eager to begin anew and move forward with their lives. For some people in Colorado, this might include initiating a divorce. Many divorce attorneys report that January coincides with a rise in divorce rates and custody proceedings, and they speculate that this is due to many people's resolutions to change their lives.
Contemplating a divorce can be a very difficult and stressful decision for any individual. There are many factors that couples must consider in determining whether or not they wish to remain together. Since Colorado recognizes legal separation, a spouse's first consideration might be just the physical separation from their partner. Religious beliefs, tax benefits and the emotional wellbeing of children are some of the reasons that a couple may choose to first separate without permanently dissolving their marriage.
When a marriage is irretrievably broken, one or both parties has the option to seek a divorce. While most couples aren't thinking about that possibility when they tie the knot, it is an option when a union breaks down.