Carrying on from where Colorado Divorce FAQs (Pt. 1) left off, below, we will continue answering some common questions that typically pop up when people are preparing to file for divorce in Colorado.
Q: How should I expect the division of property to proceed?
A: How the division of property during a divorce will occur will first depend on whether or not you and your ex can agree on how the property should be divided. If so, then this process can be worked out between you, your ex and your attorneys without having to have the court get involved.
If not, however, then the court will generally:
- Determine what property is excluded from the marital property (because, for instance, one spouse had it prior to the marriage, a pre-nup excludes it, one spouse acquired it through an inheritance, etc.)
- Try to determine what a “fair” distribution of this property is based on various factors, only some of which may include each spouse’s financial or other contributions to the marriage, the value of each piece of marital property and the financial standing of each party after the divorce.
Q: What about our marital debt? How will that be handled?
A: Like the division of assets in Colorado divorces, the division of debts will be determined by the court based on what is fair and equitable. While this can result in the marital debt being equally split between divorcing parties, in some cases, it may put more of the debt on a spouse who earns more money and, therefore, is better able to pay the debt off.
In divorces in which there is a significant amount of debt to deal with, it’s a good idea to have an attorney on your side to represent your interests and ensure you don’t get burdened with more debt than you can handle (or more than you may deserve).
Q: Will I get (or have to pay) alimony?
A: There is no quick or absolute answer to this question, as whether alimony (which may be referred to as “maintenance” or “spousal support” payments) is ordered by the court will depend on various factors.
Here, it’s also important to point out that:
- A court may decide to order short-term and/or longer-term alimony; while short-term alimony may only last through a divorce, long-term alimony may be ordered for months or years after the divorce has been finalized.
- Alimony payments, once ordered by the court, are not set in stone, as people can petition the courts to alter (or stop) these payments if or when their (or their ex’s) financial situations change.
If you have concerns regarding alimony in your divorce, again, we suggest working with an experienced attorney who can represent your interests in this matter.
Stay posted for the upcoming conclusion to this blog that answers some more of the questions that arise when people are preparing to file for divorce in Colorado.
Denver Divorce Lawyers at Goldman Law, LLC
If you are going through a divorce or dealing with any matter related to family law, the trusted Denver divorce attorneys at Goldman Law, LLC are ready to stand up for your rights and help you resolve your case as favorably as possible. When you choose to work with Goldman Law, LLC, you can be assured that your case will be resolved as beneficially and efficiently as possible so you can focus on the future.
To learn more about your rights and receive a professional case evaluation, contact us by calling (303) 656-9529 or by emailing us using the contact form on this page. From our offices in Denver, we serve clients throughout Colorado.