When faced with a divorce, many Colorado residents will go to great lengths to preserve some semblance of calm and normalcy in their otherwise tumultuous lives. That may include making every effort to hold onto their family home, even when other assets are more financially favorable. When one spouse wants to keep the home, the other spouse must agree to accept his or her share of the home's equity through other assets. Refinancing the home in the retaining spouse's name is almost always part of the property division agreement.
When a Colorado marriage goes south, it is not uncommon for spouses to begin accusing one another of various personality deficiencies. Every forgotten anniversary or failure to keep the garage clean can become a symptom of an imagined larger problem. In some cases, however, there are true personality disorders at play, which can make divorce and child custody negotiations nothing short of a nightmare. The following tips can help spouses move through this process as swiftly and with as little turmoil as possible.
When a Colorado couple is moving through a divorce, the division of marital wealth is often a top priority. Property division is also a prime area of contention among many couples, and can be the topic that brings otherwise amicable negotiations to a halt. One state has taken a novel approach to easing strife between divorcing spouses, in the form of a law that requires parties to attempt collaboration prior to taking their case before a court of law.
For Colorado families who have been successful in amassing a high degree of wealth, protecting those assets from loss is often a top priority. That includes managing money in a way that reduces tax obligations while promoting steady growth, and protecting against loss due to litigation. When it comes to legal losses, few things can be more damaging to one's bottom line than a high\-asset divorce. That is why many families take an aggressive stance toward making sure that inherited wealth stays where it was intended.