If you are facing a divorce in Colorado, you can expect the unexpected, but better understanding the process can h...Read more
The main issues to be resolved in a divorce are dividing assets, determining alimony, child support, and child custody. Because Colorado is a no-fault divorce state, the court will not look at any sort of adultery, domestic violence, abandonment, etc., when determining property division, alimony, or custody. In addition, it’s important to know that Colorado is an “equitable division” state when it comes to dividing the debts and assets of the marital estate (versus a “community property” state).
All property acquired during your marriage by either party, regardless of how it is vested, is considered part of the marital estate. The only exceptions are individual gifts received like an inheritance or a personal injury suit award. Here are some topics to consider about marital property division:
Alimony (or “spousal maintenance”) is financial support paid by one spouse to the other. Colorado’s standards for getting alimony are:
Not everyone who is divorcing is eligible to get alimony. Courts consider these factors:
In Colorado, alimony is determined by subtracting 50% of the lower-earning spouse’s income from 40% of the high-earning spouse’s income. That number is then divided by 12. For instance:
40% of Spouse B’s Income = $22,000
50% of Spouse A’s income = $20,000
$2,000/12 = $167/month
Colorado’s child support guidelines are in place so that children receive a fair share of their parent’s resources. In this way, Colorado considers the following factors in determining child support amounts:
You will not pay child support if your child passes away, is on active military duty, is already supporting themselves, becomes emancipated, or gets married before the age of 18.
What’s best for your children will always be the court’s top priority. For instance, Colorado courts look at these items when deciding on custody arrangements:
If you are thinking about divorce, there’s a lot to consider. To begin, divorce puts your financial and parental...Read more