It’s no shock that divorce in Colorado can dramatically affect the financial status of individuals. A couple who works together to support their lifestyle is often hit hard when they must try and do so solo. According to experts, the biggest surprise most often comes to women who give their husband most of the control over the investments and other finances.
When readers in Jefferson County think of the property division portion of a divorce settlement process, they typically think of bank accounts, vehicles and homes. In some cases, a couple may have invested in artwork, memorabilia or other types of assets, however, that also often have to be divided up between the two parties.
Whether couples in Denver enter into their marriage with assets and properties, or they acquire assets and properties throughout the course of a marriage, those resources must be divided in the event of a divorce. In the absence of a prenuptial agreement spelling out how assets should be split a family law judge will divide up the couple’s assets, including bank accounts, retirement accounts and even artwork based on a number of factors, like valuation of the assets and earnings of the individual parties.
Family law courts in Jefferson County, as well as in other counties throughout the U.S., regularly hear divorce cases and determine equitable distribution of funds, assets, and marital property. While there are cases where a spouse may get portions of assets brought into the marriage by the other party, it is rare to hear of a case where an ex-spouse receives funds that are brought in after the marriage has ended.
When family law courts in Jefferson County and elsewhere are determining asset distribution and property division in divorces, it is their job to fairly distribute those assets between the parties. While courts understand it is not possible to make those involved whole again in divorce settlements, they do their best to ensure the equitable division of marital property, bank accounts and other assets. Unfortunately, this does not always happen.
Celebrities and other high-profile couples not only have to deal with media attention during divorce proceedings, they are often also involved in multiple, drawn out hearings in order to divide assets and reach settlements. Marital property, non-marital property, business assets and retirement accounts are among the numerous types of assets that often must be valued and distributed in divorce settlements.
One or both members of a couple may want to have a prenuptial agreement before entering into marriage. Family law courts in Denver and other U.S. cities often use these documents as a guideline when settling a divorce. This legal contract is meant to protect non-marital property and assets in the event of a divorce and to help ease the property division process.
This blog previously wrote about the impending divorce of reality television star-turned successful businesswoman Bethenny Frankel. Frankel has an extensive fortune from her years as a "Real Housewife" and other reality television shows and her Skinnygirl products. That is protected by a prenuptial agreement, but her estranged husband recently filed papers of his own, meaning the property division process is about to get more contentious.
When you split up with someone there are many other things that get split up: custody of the dog, the house, the blender you both love. These are the things that Coloradans know about when you go into a divorce; that you're fully aware you'll have to compromise, fight for or begrudgingly hand over. These are things that are well-known when it comes to property division; however, there are some other things to be discussed now that property isn't entirely tangible.
We've all been through the awkward and emotional situation of running into an ex before. Where you just want to escape, or maybe even torture yourself and go talk to them. It can be very painful to have to go through the moving on process - especially so for couples who were once married. For some Colorado couples, it can be even more difficult if you continue to work with your previous spouse.