Divorce Post-Decree Mediation Family Law Property Division

How Does Divorce Affect 529 College Savings Plans?

Laura E. Shapiro - October 31, 2018

When you and your spouse set up a 529 College Savings Plan, you probably thought it would be a great way to help your child handle expensive college costs.

After all, the tax-deferred savings plan would help take some of the financial pressure off you—and your child—when it came time for her to go to college.

Your child could focus on studying instead of worrying where the money would come from for next semester’s tuition.

Unfortunately, you were not able to foresee a divorce that could potentially affect contributions to the 529 savings plan.

Valuing Collectibles & Antiques for a Divorce

Laura E. Shapiro - October 25, 2018

Dividing marital property can bring a great deal of stress to couples going through a divorce. The stress intensifies when it comes to valuing collectibles and antiques for purposes of a divorce.

You and your spouse have a right to the antiques and collectibles purchased during your marriage.

If you both agree on how to divide antiques or collectibles, this process can be relatively straightforward. This is often not the case, however, and disagreements can be complicated regarding these kinds of assets.

What Happens to My Stock Options During Divorce?

Laura E. Shapiro - October 22, 2018

Stock options are a confusing concept for many people. Often those who hold this type of asset assume they are worthless,

but this could be a mistake.

When considering the full picture of your family’s assets, it is imperative that we gain an understanding as to the true value of stock options and other similar benefits. A judge could require that you appraise these options, or could divide them in kind.

What Happens to a Mortgage During Divorce?

Laura E. Shapiro - September 26, 2018

You will need to continue paying your mortgage during divorce proceedings, at least until you know the final decision and who will gain possession of the home.

You may be able to get temporary orders for possession of the house, and even financial support to help you make the mortgage payment if you are living there with your children but cannot make the payment.

If neither you nor your spouse can make the payment on your own, you may need to consider agreeing to sell the house.

How to Value a Private Medical Practice for a Divorce?

Laura E. Shapiro - September 15, 2018

There are several ways to value a private medical practice for a divorce, but we recommend leaving this to professionals.

When we handle a divorce that includes a private medical practice, we rely on appraisers and experts who can weigh the numerous factors that are necessary to consider for determining a credible estimate of value.

Colorado is an equitable division state, meaning not all property obtained during the marriage is necessarily joint marital property or that the property has to be divided.

This complicates things further, since the circumstances of your case will determine what proportion, if any, of this value will be subject to division for settling the divorce.

Valuing a Veterinary Practice for a Divorce

Laura E. Shapiro - August 29, 2018

When you established your veterinary practice, chances are you did not anticipate that your business would be on the property division list for your divorce.

Your veterinary practice is marital property (i.e., property and assets either spouse acquired during the marriage) under Colorado law, unless you started your practice before you were married or excluded it in a premarital agreement

How Is Spousal Support Calculated?

Laura E. Shapiro - July 16, 2018

One plus one equals three written on chalk board

Colorado courts calculate spousal support using statutory guidelines.

Based on how long the couple has been married, the income of each spouse, and other specific factors, the Court will decide how much the higher-earning spouse may have to pay.

Under state law, the Court calculates spousal support using a formula. Under this formula, the amount of spousal support equals:

What Is the Difference Between Legal Separation and Divorce?

Laura E. Shapiro - July 10, 2018

There is one significant difference between legal separation and divorce in Colorado: A divorce legally dissolves a marriage, but a legal separation does not.

Couples who divorce are free to remarry.

Couples who are legally separated are still married to each other, even though they are living independently and have gone their separate ways. Legally separated couples cannot marry anyone else until they have divorced.

How Do I File for Legal Separation?

Laura E. Shapiro - July 3, 2018

You can file for legal separation at the district court in the county where you and your spouse live, or where your spouse lives.

Under state law, you must have lived in Colorado for at least 91 days before you can file a petition for your separation.

Before you file the paperwork, you might want to...

Grandparents’ Rights in Colorado

Laura E. Shapiro - June 8, 2018

According to the last Census figures, more than 35,000 Colorado grandparents are raising their grandchildren. About 40% of those grandparents have cared for their grandchildren for more than five years.

So yes, grandparents can get custody of grandchildren if certain requirements are met.